Office sublease space has increased 50% from Q1 2022. The Boise MSA currently has 626,000 SF of office sublease space on the market. Meridian and Downtown Boise submarkets both have approximately 650,000 SF of office lease and sublease space available.
Pivot North Architecture leased 3,314 square feet of office space located at 300 W. Main Street in Boise. Al Marino and Karena Gilbert of TOK Commercial facilitated the transaction for the tenant and landlord.
Congratulations! For whatever reason, the time has come for you to find new office space. Maybe your company has outgrown your existing space. Or more of your employees are telecommuting so it is time to downsize. Or the location of your customer base has shifted and you need to move closer to serve them better. Regardless of the reason, there are several things to keep in mind when looking for new space.
1. IT WILL TAKE LONGER THAN YOU EXPECT.
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.
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