Boise Industrial Report Q1 2019
Quarter-over-quarter activity displayed positive net absorption for all industrial and flex buildings. The most positive absorption came from the Caldwell, Nampa and Airport submarkets, which also demonstrated the highest leasing activity as well. Average asking for Q1 2019 was $0.58 (for non-flex NNN properties), with no increase from Q4 2018. Vacancy rates decreased down to 2.94%, reaching historic lows for the valley. New construction increased to 544,000 s.f.; strongly due to Autoval breaking ground on their 400,000 s.f. modular home manufacturing plant in Nampa. Average asking cap rates for industrial investment properties is lingering around 7%. A large majority of vacant spaces are between 10,000 and 20,000 s.f..