Quote:
Originally Posted by jthomps4
Does anyone have any insight into the demand for downtown office space? I was thinking about the potential for a new 10+, or hopefully20+, story building and whether or not there would be one in the next 5 years if the economy remains strong. With the new Simplot headquarters and 11th & Idaho downtown, plus the space at Eagle & Overland and Ten Mile; I'm curious if everything is filling up and being absorbed, or it there's a surplus that has softened the market.
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new story in BoiseDev had a link to a
TOK study on office vacancy. even with all the recent new buildings (such as Pioneer Crossing), downtown vacancy rates are still extremely low:
Downtown Boise
Total SF: 6,941,603
Occupied: 6,529,062
Vacancy rate: 5.94%
Office vacancy for Ada county is even lower, at 5.5%. I think downtown could EASILY absorb a large-scale office tower; Boise really has been a "if you build it they will come" type of market in recent years.