Valley office, retail vacancy rates mixed

Statesman staffNovember 12, 2013 

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Overall office vacancies increased slightly around the Treasure Valley in September, though multitenant vacancies fell from 18.2 percent to 17.9 percent. Industrial and retail vacancy rates fell to their lowest levels in several years. The industrial vacancy rate dropped below 9 percent for the first time since 2008, and retail reached its lowest point since 2007 at 8.2 percent.

A few big moves told the story of tightening supply in some of the Valley’s cities and neighborhoods. Eagle’s office vacancy fell to 11.3 percent — lowest since mid-2007 — when LiveRez, a cloud-based software company, leased more than 10,000 square feet in the Winding Creek business park and AG Concepts bought an 8,700-square-foot building. The Idaho Youth Ranch leased 15,800 square feet of warehouse space in Central Boise, helping to push down that submarket’s industrial vacancy rate to 9.1 percent. The Idaho Indoor Farmers Market leased 30,000 square feet in North Boise.

Charts show vacancy rates by region, average lease asking prices.

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