Tribute Media

MERIDIAN, Idaho--Tribute Media earned the first place award in the Micro Employers category (10-19 employees) at the 10th Annual Best Places to Work in Idaho award ceremony Thursday night. Last year, Tribute Media placed 5th in the same category.

According to an article published on www.costar.com, higher interest rates should not automatically signal to investors to look for higher cap rates and lower property values.

Office Update • Total vacancy decreased from 9.9% to 9.8% in February. Multitenant vacancy decreased from 14.6% to 14.5%. • A 13,700 SF office building was purchased in Eagle dropping vacancy to 4.9%, the lowest point in over 10 years.

Sales of ready-to-build commercial lots will remain strong in 2017 as some tenants opt out of leasing space in a tight market.

Online shopping will continue to have a direct impact on the use of retail real estate. Online sales for Cyber Monday set a record in 2016 as more opt to shop from home.

Office Update • Total vacancy increased slightly from 9.8% to 9.9% in January. Multitenant vacancy remained flat at 14.6%. • The Eagle submarket reached its lowest vacancy (5.0%) since 2007 where 13,400 SF was leased at the Cobblestone Building.

Recently completed projects are expected to have an impact on increasing lease rates in 2017, particularly in Downtown Boise. To compete with the new Class A product, some landlords are investing in renovations for their buildings.

2016 was a record-breaking year for the Industrial Market, ending with 1,164,000 square feet of positive net absorption, higher than seen at the peak in 2006.

Demand for investment product is expected to remain strong in 2017. Buyers planning on a 1031 exchange may elect to put a replacement property under contract before marketing their current holding.

Meridian, Idaho: International Pet Hospital is proud to announce that Kim Mulvahill, our hospital administrator since 2010, has become a Certified Veterinary Practice Manager (CVPM).