The overall supply of office space in the Boise area has been steadily declining over the past three years and in September, vacancy rates hit a new 15 year low of 8.13%.
According to Forbes, Boise is listed #28 on the list of 200 Best Places for Business and Careers. As the employment rate continues to decrease and more companies open up shop in Boise and the surrounding cities, it is highly likely that office space vacancy will continue to decrease at a proportionate rate.
Currently, the net absorption of office space exceeds 515,000 square feet, surpassing 2017’s total.