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Boise Industrial Five Fast Facts | Q2 2023

Chris Ison • 7/19/2023
The Boise industrial market continued its high velocity growth pattern, with over one million square feet (msf) delivered in Q2 2023 and over 1.8 msf delivered year-to-date (YTD).
  1. Continued Growth 
    The Boise industrial market continued its high velocity growth pattern, with over one million square feet (msf) delivered in Q2 2023 and over 1.8 msf delivered year-to-date (YTD).  

  2. Flexing
    While developers have met and exceeded demand for warehouse/distribution space, office service/flex space continued to be in short supply. 

  3. Rising Rents 
    Industrial rents climbed in all U.S. regions and jumped $0.04 price per-square-foot (psf) quarter-over-quarter (QOQ) in the West Region and $0.14 psf year-over-year (YOY) on a monthly basis.  

  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. Supply & Demand 
    The market should yield a steady increase in vacancy as supply is expected to outpace demand in the coming quarters. 

5-Fast-Facts-_-Q2---Boise-Industrial

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