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 Valleys cities and neighborhoods. Eagles 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 submarkets industrial vacancy rate to 9.1 percent. The Idaho Indoor Farmers Market leased 30,000 square feet in North Boise.