Industrial Vacancy Trends

February 5, 2026

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BOISE MSA | Q1 2026

INDUSTRIAL VACANCY

Industrial vacancy edged up modestly to 8.5 percent in 2025 but has remained below 9 percent since mid-2024. A key factor influencing the overall vacancy rate is the 901,000-square-foot single-tenant building at Red River Logistics Center, which delivered in June 2024 and remains on the market. This large block of available space continues to skew vacancy higher, even as leasing activity elsewhere shows signs of stabilization. Multitenant vacancy, while still elevated at 22 percent, declined from year-end 2024 levels as newly delivered space gradually absorbed.

OVERALL VACANCY is at 8.5% and has stayed BELOW 9% since July 2024.

MULTITENANT vacancy ended at 22.4% which is DOWN 100 BASIS POINTS from the end of 2024.