Despite a worldwide pandemic, the Boise MSA’s office market has thus far experienced a milder impact than expected.
Net absorption ended Q2 at 243,000 square feet, a moderate decrease compared to 12 months ago (290,000 square feet), but still higher than the first half of both 2016 & 2017. Overall vacancy decreased from 5.8 percent at the end of 2019 to a current all-time low of 5.2 percent.
Numerous large office projects are currently under construction, predominantly at Ten Mile Crossing and Eagle View Landing. These projects will lead to a surge in construction deliveries in the latter half of 2020. With over 900,000 square feet expected to deliver by the end of the year, 2020 could be a record-breaking year for office construction.