The Boise office market continues to show steady fundamentals in 2026, supported by improving vacancy, rising rental rates and evolving tenant demand. According to TOK Commercial Real Estate Research, overall office vacancy in the Boise MSA improved through Q2 2026, while average asking lease rates reached a record high.
These market trends are the focus of a recent Western Real Estate Business feature authored by Patrick Shalz, Partner and Office Specialist at TOK Commercial Real Estate. In “Boise Office Market Gains Ground Ahead of Micron’s Expansion,” Pat draws on TOK’s local market research and his decades of brokerage experience to examine the changing Boise office landscape and what could be ahead for the Treasure Valley.
Boise Office Market Snapshot — Q2 2026
| Market Indicator | Q2 2026 | Comparison |
|---|---|---|
| Overall Vacancy | 6.6% | From 7.2% a year earlier |
| Asking Lease Rate | $23/SF | Annual, full service |
| Multitenant Vacancy | 10.2% | From 10.5% a year earlier |
| Net Absorption | 126K SF | Up 36% year over year |
Source: TOK Commercial Real Estate Research Q2 2026 Boise MSA office research and Patrick Shalz’s published analysis.
Highlights from Pat’s Feature
Market data provided by TOK Commercial Real Estate Research. Analysis by Patrick Shalz, Partner & Office Specialist.
“Amid an office landscape that remains uneven nationally, the Boise MSA continues to distinguish itself with steady fundamentals, improving vacancy and rising rents.” — Patrick Shalz
How is the Boise office market performing in 2026?
The Boise office market remains on solid footing. Vacancy has improved year over year, while asking lease rates have continued to rise. TOK Commercial Real Estate Research also shows an important shift beneath those headline figures: although fewer office transactions occurred during the first half of 2026, tenants are taking larger blocks of space.
Together, these indicators point to a market experiencing measured demand rather than dramatic swings — a trend Pat explores further in his analysis.
Where is office demand growing across the Treasure Valley?
Office demand continues to extend beyond Boise’s traditional business districts. Boise remains the center of regional leasing activity, while communities including Meridian and Eagle continue to capture business growth and office demand.
The underlying trends, however, tell a more nuanced story. Pat’s full feature examines how leasing patterns are changing across the Treasure Valley, where companies entering the Boise market are choosing to locate and what those decisions indicate about demand for well-located, quality office space.
How could Micron’s expansion impact Boise commercial real estate?
Micron’s continued investment in Boise represents a significant long-term economic driver for the region. As its semiconductor operations expand, the surrounding ecosystem of suppliers, technology companies and professional service providers has the potential to generate additional demand for commercial real estate throughout the Treasure Valley.
For the office market specifically, the impact is expected to develop over time. Pat’s analysis looks at how Micron, local business expansion, incoming companies and a measured development pipeline could collectively influence the market as the region approaches 2027.
Read Pat Shalz’s Full Boise Office Market Analysis
This snapshot captures some of the broader trends shaping the Boise office market in 2026, but Pat’s full feature goes deeper into the data behind them — including changing transaction sizes, submarket performance, new-to-market business activity, rental trends and office development across the Treasure Valley.
Read Patrick Shalz’s full article, “Boise Office Market Gains Ground Ahead of Micron’s Expansion,” on REBusinessOnline. The article was originally published in the August 2026 issue of Western Real Estate Business.
Market Data Source: TOK Commercial Real Estate Research
Market Analysis: Patrick Shalz, Partner & Office Specialist, TOK Commercial Real Estate
Original Feature: Western Real Estate Business / REBusinessOnline