Q2 2024 Boise MSA Office Market Trends

Submitted by Marketing Team on Mon, 05/20/2024 - 09:11

The Office market slowed in Q1 with the number of transactions down 4 percent from Q1 2023. Lease rates and vacancy remained healthy in the first quarter of the year. Overall average lease rates held at $20.50 per square foot (FLSV, Annual) while average Class A rates jumped 3 percent from Q4 to $24.75.

Sublease space has continued to fall from the historic highs of the latter half of 2022 and early 2023. Available sublease space was down to its lowest level since Q2 2022, falling below 480,000 square feet in January and ending the quarter down 4 percent from the end of 2023.

Office Transactions by Square Feet // Boise MSA  Q2 2024



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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