BOMA Boise held it's 11th Annual Commercial Real Estate Symposium recently and all segments of the indutry seemed to report normal and healty conditions in the Boise and Nampa market. Absorption in the retail market was reported to have been over 1,000,000 sf, a record year.
The Building Owner's and Manager's Association, BOMA Boise (http://www.bomaboise.org/), held its 11th Annual Commercial Real Estate Symposium last week and the reports from all market segments (retail, industrial, office) seemed to report fantastic 2007 results. Commercial projects started in the last 18 months have caused some over-supply in some market segments, but vacancy rates are in "normal" conditions. Keep in mind there are several sub-markets in the Boise Valley commercial real estate market and some areas had or are having strong growth while other areas are not.
During and after the conference I was able to discuss current and projected conditions and I got the impression most commercial realtors were expecting a slower, healty pace of activity in 2008.
My own observations show a preference for tenants to move back in to core areas. There seems to be fewer searches in the outlaying areas and tenants seem to be looking for the security of proven market areas. So, there is a little caution in the air that seems to cause the tenant base to become concentrated in the more traditional commercial areas.