December 8, 2025
BOISE VALLEY
Bobbins, LLC leased 5,160 square feet of retail space located at 428 Cheney Drive in Twin Falls. Al Marino and Jesse Sutherland of TOK Commercial represented the landlord and tenant.
Hoyte Enerprises, LLC leased 2,533 square feet of office space in Lakeharbor, located at 3050-3250 N. Lakeharbor Lane in Boise. Al Marino and Kekaula Kaniho of TOK Commercial facilitated the transaction.
The Boise Valley’s industrial market has entered a period of recalibration following two years of unprecedented construction activity. Over the past 12 months, just over 1 million square feet of new industrial space has been delivered, a 63 percent decrease compared to this time last year. The slowdown in speculative construction has been particularly dramatic, with less than a quarter of last year’s spec volume completed, totaling just under 485,000 square feet. This pullback has allowed the market to begin absorbing the substantial inventory added over the previous two years.
The Boise MSA land market has shown resilience and selective growth through the first seven months of 2025, with mixed signals across different sectors reflecting a maturing market adjusting to evolving economic conditions. Commercial land consideration over the last 12 months totaled $49.3 million, down 38 percent compared to this time last year. Despite the slowdown in land acquisition, commercial construction has surged.
The Boise investment market continues to operate within a challenging interest rate environment, with the 10-year Treasury rate maintaining elevated levels around 4.3 to 4.5 percent throughout the first half of 2025. Multifamily maintained the lowest cap rates at 5.3 percent, followed by retail at 5.8 percent, while both industrial and office properties reached 6.0 percent.
The Boise MSA Office market is navigating a complex landscape shaped by persistent inflation, elevated interest rates, and broader economic uncertainty. These factors have created a more cautious business climate, influencing tenant decision-making and leasing activity.
📉 National Office Market in Decline (2025)
Boise Office
250 S 5th Street, Suite 200
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. Grandmill Lane
Coeur d'Alene, Idaho 83814
Main Phone: 208.449.1908
Spokane Office
717 W. Sprague Ave. Suite 1202
Spokane, Washington 99201
Main Phone: 509.606.5090
