September Markets Update
Idaho Commercial Real Estate Markets Update | September 2024
Idaho Commercial Real Estate Markets Update | September 2024
The number of commercial land transactions in Eastern Idaho surged by 23 percent compared to this time last year. Over the first half of 2024, more than 119 acres of commercial land sold, with total consideration exceeding $8.6 million. Additionally, the number of commercial permits issued has increased by 9 percent, while the total value of these permits has skyrocketed by nearly 140 percent year-over-year. This dramatic uptick in permit value is partly due to a $32 million permit pulled for Idahoan Foods’ new building in the West Idaho Falls submarket.
TOK's latest outlook for Eastern Idaho's commercial real estate market highlights important trends for office, industrial, retail and investment properties in 2024.
Office
The strong organic growth the area has seen will likely continue to drive the demand for future office space. Over half of transactions in 2023 were with tenants opening additional locations, expanding their space, or local tenants starting new businesses
Industrial
Spec development is expected to slow slightly with only a handful of projects slated to deliver in 2024. One notable construction project is Idaho Falls Business Park, where 122,600 square feet is expected to deliver
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