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The Canyon County commercial real estate market will grow again next year, particularly in the retail sector, a new report says.
The greatest growth will clearly be in the retail sector, the 2004-05 Canyon County Real Estate Update says. Depending on the economy and the efforts of local governments and private developers, Canyon County is positioned to continue its growth at a rate that may outpace all other areas in southwest Idaho.
The report, by Jerry and Chad Gunstream of Nampa-based Gunstream Commercial Real Estate, says that after a 15.3 percent increase in population since late 2001, Canyon County has more than 151,000 residents and is ranked as one of the 50 fastest-growing counties in the nation. Based on recent activity and announced plans, retail growth in Canyon County will continue to be explosive.
This growth will attract new businesses, resulting in additional new construction and a likely increase in average retail lease rates, the report says. How existing independent retailers and older...