2023 Office Space Rent & Sales
- $21.30 2023 Avg. Asking Rent
- -3.14% Y-o-Y Avg. Asking Rent Change
- 6.61% 2023 Office Vacancy Rate
Boise office price per square foot in 2023 was $21.30 on average. This marked a -3.14% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 6.61% across all asset classes combined.
See how this market compares to the national average: U.S. office space rent & sales.
Average Rent by Office Class
2023 Average Office Rent per Square Foot
- Boise Class A & A+ Office Space$25.56
- Boise Class B Office Space$18.97
- Boise Class C Office Space$19.82
- Idaho Class A & A+ Office Space$26.91
- Idaho Class B Office Space$20.78
- Idaho Class C Office Space$22.70
Boise, ID Office Asking Rents by Class
Average office rent in Boise rested at $21.30 per square foot in 2023. As would be expected, office rent price showed some variation from one asset class to another. As such, the asking rent for class A office space in Boise averaged $25.56 per square foot. Across all submarkets, class B office space recorded an average asking rent of $18.97 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $19.82 per square foot, on average. Comparably, statewide Idaho average office rents by class in 2023 were: $26.91 per square foot for class A office space; $20.78 per square foot for class B office space; $22.70 per square foot for class C office space.
2023 Office Vacancy Rates in Boise
| Submarket | Asking Rents | Vacancy Rates |
|---|---|---|
| Boise - Downtown | $23.85 | 7.82% |
| Boise - Southwest | $21.15 | 5.09% |
| Boise - Southeast | $20.51 | 9.06% |
| Boise - Northeast | $18.00 | 23.24% |
| Boise - West | $17.98 | 4.85% |
Coworking Spaces in Idaho
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2023 Office Construction in Boise, ID
| Office building | Address | SF | Completed |
|---|---|---|---|
| Ashland Creek Business Park | 5659 North Glenwood Street, 83714 | 2,912 | 2024 |
| Ashland Creek Business Park | 5659 North Glenwood Street, 83714 | 2,912 | 2024 |
| Barber Station | 3140 E. Barber Valley Drive | For Sale | 3140 E. Barber Valley Drive Boise, 83705 | 11,501 | 2023 |
| Proposed Flex Building For Lease | 2099 Century Way, 83709 | 8,200 | 2021 |
| 5552 N Eagle Road | 5552 N Eagle Road, 83713 | 5,172 | 2020 |
| Pioneer Crossing | 1290 West Myrtle Street, 83702 | 127,600 | 2019 |
| Spring Creek | 10173 W Overland Rd, 83709 | 3,826 | 2016 |
| Eighth & Main | 800 West Main Street, 83702 | 390,000 | 2014 |
| View Pointe Business Park | 1880 West Judith Lane, 83705 | 13,232 | 2008 |
| 835 W. Front St. | 835 W. Front St., 83702 | 1,383 | 2008 |
Worth noting among recent office completions on the Boise market is Ashland Creek Business Park, which is currently the largest new office development in the city, at 2,912 square feet.
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This market stats report is based on analysis of city-level data that includes office properties equal to or larger than 25,000 square feet in size. Averages were calculated based on values dated January 1st 2023 through December 31st 2023. Construction pipeline data represented herein is valid as of April 2024. The information on this page was compiled using data provided by CommercialEdge, a market intelligence solution which offers comprehensive real market knowledge on all Boise commercial properties sized 25,000 square feet or larger.
While every effort was made to ensure the accuracy of the data presented in this report, the information is provided “as is” and neither CommercialCafe nor CommercialEdge can guarantee that the information provided is complete.