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Boise Retail Five Fast Facts | Q2 2023

Chris Ison • 7/19/2023
  1. Boise Outperforms U.S. 
    The Boise market outpaced the U.S. market in population growth, household income, and unemployment. The retail market remains on an upward trajectory based on key indicators. 

  2. Supply & Demand 
    Low levels of speculative construction and strong demand will likely contribute to lower vacancy and higher rents for the remainder of 2023. Demand has outpaced supply by 30.0% over the previous 15 months. 

  3. Pads Anyone? 
    Build-to-suit construction pad rents are reaching $45.00 per-square-foot (psf). 

  4. Strong Population Growth & Low Unemployment 
    Boise was ranked No. 3 in annual population growth nationwide at 2.2% and is projected to increase further, while its economy expanded at a rate of 3.4% YOY.
  5. Strong Leasing Activity 
    The Boise retail market exhibited strong demand in Q2 2023, with nearly 200,000 square feet of direct leasing activity QOQ and nearly 600,000 YOY. 

Boise Retail FFF Q2 2023

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