Meridian Office Rent Price & Sales Report

2023 Office Space Rent & Sales

  • $24.82 2023 Avg. Asking Rent
  • 13.51% 2023 Office Vacancy Rate

Meridian office price per square foot in 2023 was $24.82 on average. The local office market recorded an average vacancy rate of 13.51% 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

  • Meridian Class A & A+ Office Space$28.76
  • Meridian Class B Office Space$22.81
  • Idaho Class A & A+ Office Space$26.91
  • Idaho Class B Office Space$20.78
  • Idaho Class C Office Space$22.70

Meridian, ID Office Asking Rents by Class

2023 Office Vacancy Rates in Meridian

Submarket Asking Rents Vacancy Rates
Meridian - South $24.94 21.19%
Meridian - North $23.59 4.95%
Data provided by Commercial Edge
Submarket differences in factors such as property mix, degree of accessibility, and availability of amenities influence not only variation in office rent price, but also in vacancy rates. The overall office vacancy rate on the Meridian market was 13.51% in 2023. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Meridian was 4.95% in the Meridian - North submarket, while the highest office vacancy in the market was 21.19%, recorded in Meridian - South.

Coworking Spaces in Idaho

2023 Office Construction in Meridian, ID

  • Meridian, ID Total SF completed in 2023 223,000

During 2023, 223,000 square feet of new office space were delivered across the market. At the close of 2023, the Meridian office inventory included 2 buildings equal to or larger than 25,000 square feet, which comprised 223,000 square feet of office space.

Largest Office Properties Recently Completed in Meridian
Office building Address SF Completed
Victory Commons – Flex Building 2 Meridian & Victory Road, 83642 32,884 2024
Ten Mile Crossing - Building 6 2512 West Navigator Drive, 83642 73,000 2023
El Dorado Business Campus - Veranda Plaza 1800 South Bonito Way, 83642 73,734 2022
Victory Commons – Flex Building 1 Meridian & Victory Road, 83642 29,391 2022
El Dorado Business Campus - Catalina Place 3015 East Goldstone Drive, 83642 70,554 2021
Gramercy Plaza II 1861 S Wells Ave, 83642 30,000 2021
1000 S. Industry Way 1000 S. Industry Way, 83642 10,256 2021
Ten Mile Crossing - AmeriBen Building 2 980 South Ten Mile Road, 83642 120,000 2020
Silverstone Park - Blackstone Building 1820 South Silverstone Way, 83642 117,036 2020
Pine 43 Retail 2295 E. Fairview Avenue, 83642 48,275 2020

Worth noting among recent office completions on the Meridian market is Victory Commons – Flex Building 2, which is currently the largest new office development in the city, at 32,884 square feet.

Data provided by Commercial Edge

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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 Meridian 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.