The U.S. economy officially began its 11th consecutive year of growth in the second half of 2019, a new record for the longest economic expansion in history. The economy continued to add jobs during the first six months of 2019, although the pace of job growth has slowed from last year. Consumer confidence, while still high, has fluctuated since the beginning of the year—due in part to global economic concerns and trade disputes. Real GDP grew by 3.1% in the first quarter of 2019, 90 bps higher than the 2.2% growth rate in the fourth quarter of 2018. Cushman & Wakefield forecasts 2019 real GDP growth will be in the mid-2% range—a healthy backdrop for commercial real estate.

Overall actual cap rates, excluding multi-family properties & national credit NNN deals, have averaged around 7% for investment properties in the Boise MSA.

Quarter-over-quarter activity displayed positive net absorption for all industrial and flex buildings.

The Boise office market experienced positive net absorption in the first quarter.

First quarter retail activity in the Boise MSA displayed negative net
absorption

Cushman & Wakefield's Capital Markets Q1 2019 MarketBeat Report