Eastern Idaho 2024 Commercial Real Estate Market Outlook

Submitted by Marketing Team on Sat, 04/13/2024 - 20:03

TOK's latest outlook for Eastern Idaho's commercial real estate market highlights important trends for office, industrial, retail and investment properties in 2024. 


The strong organic growth the area has seen will likely continue to drive the demand for future office space. Over half of transactions in 2023 were with tenants opening additional locations, expanding their space, or local tenants starting new businesses





Spec development is expected to slow slightly with only a handful of projects slated to deliver in 2024. One notable construction project is Idaho Falls Business Park, where 122,600 square feet is expected to deliver





Retail demand is anticipated to remain high with supply limited, though more product did come online in 2023 compared to 2022. Nearly 95,000 square feet delivered with speculative space accounting for 20 percent




Since March 2022, the Federal Reserve raised its benchmark rate 11 times in an effort to cool inflation. However March was the fifth consecutive meeting that resulted in a rate-hike pause, keeping the benchmark interest rate range between 5.25 and 5.5 percent





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Five Locations to Serve You

Boise Office
250 S 5th Street, 2nd Floor
Boise, Idaho 83702
Main Phone: 208.378.4600

Nampa Office
16150 N. High Desert Street, Suite 200
Nampa, Idaho 83687
Main Phone: 208.378.4600

Twin Falls Office
195 River Vista Place, Suite 204
Twin Falls, Idaho 83301
Main Phone: 208.944.9694

Idaho Falls Office
1135 Pier View Drive, Suite 120
Idaho Falls, Idaho 83402
Main Phone: 208.227.8148

Coeur d'Alene Office
3322 N. Grand Mill Lane
Coeur d'Alene, Idaho 83814
Main Phone: 208.449.1908