Research
Unrivaled Market Intelligence. Unmatched Local Expertise.
Our research team partners directly with top-tier commercial real estate brokers to deliver comprehensive, hyper-local market data across every major property type and market in our region. This collaboration ensures our insights are not only data-driven but grounded in real-time market activity.
In a landscape where conditions shift rapidly, our research gives you the clarity and confidence to act decisively. Whether you're investing, leasing or managing property, we provide the timely intelligence you need to stay ahead of the curve.
From forward-looking thought leadership and emerging trend analysis to deep dives into economic fundamentals, our tailored reports empower you to make smarter decisions and keep your business competitive.
Market Reports
Key takeaways
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Eastern Idaho industrial vacancy drops to 1.8% from 2.6% on 96,743 square feet of positive absorption, led by nearly 109,000 square feet in Bonneville County
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Southern Idaho retail rebounds with 32,941 square feet of positive absorption after a Q2 loss, as all three counties gain occupied space and vacancy edges down to 3.6%
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Industrial construction ramps up in both regions, with Southern Idaho’s pipeline climbing to nearly 287,000 square feet, up from about 174,000 square feet in Q2
Key takeaways
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Treasure Valley industrial swings back to 483,378 square feet of positive absorption after a Q2 loss of 176,555 square feet, nudging vacancy down to 11.4%
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Ada County vacancy falls to 10.2% from 11.0%, while Canyon County climbs to 13.0% as 307,550 square feet of new supply outpaces demand
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The construction pipeline grows to nearly 3 million square feet as the valley’s overall NNN asking rate holds at $1.09 per square foot per month
Key takeaways
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Commercial land listings grow 6% across Idaho’s major markets, led by Southern Idaho at 23% and Ada County at 20%, with the average price per acre at $583,362
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Ada County’s median new home price climbs 6.25% year over year to $595,000 in August, while Canyon County rises 3% to $443,100
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Residential land listings jump 38% in Ada County and 53.4% in Canyon County from Q2 as residential permits nearly double across major markets
Key takeaways
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Treasure Valley office vacancy dips to 6.7% as net absorption climbs to roughly 62,000 square feet, nearly all of it in Ada County
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Ada County vacancy falls to 7.1%, led by 55,000 square feet of positive absorption on the West Bench, even with about 636,000 square feet under construction
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Full service gross asking rents rise to $24.66 per square foot per year, with near-term demand expected to outpace new supply
Key takeaways
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Treasure Valley office vacancy dips to 6.7% as net absorption climbs to roughly 62,000 square feet, nearly all of it in Ada County
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Ada County vacancy falls to 7.1%, led by 55,000 square feet of positive absorption on the West Bench, even with about 636,000 square feet under construction
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Full service gross asking rents rise to $24.66 per square foot per year, with near-term demand expected to outpace new supply
Key takeaways
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Boise MSA effective rents climb 4% YoY to an average of $1,594 as the metro adds more than 50 new residents per day
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Three-bedroom units post the strongest rent growth of H1, up over 6% to an average of $1,871 per month
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Two major projects advance in the pipeline: the 250-unit Emblem Meridian in one of the valley's fastest-growing corridors and a proposed 200-unit development north of the Micron expansion
Key takeaways
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Southern Idaho industrial vacancy falls to 1.8%, one of the lowest readings in recent years, on nearly 158,000 square feet of positive net absorption
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Eastern Idaho industrial swings back from a soft Q1 with 79,108 square feet of positive absorption, pushing vacancy down to 2.6% even as new inventory delivers
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Eastern Idaho office tightens to 2.5% vacancy, absorbing more than 37,600 square feet with little new construction in the pipeline
Key takeaways
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Airport submarket delivers more than 400,000 square feet of new industrial inventory, pushing submarket vacancy to 21.8% ahead of anticipated Micron-driven demand
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Mesa Systems, Inc. leads Q2 market activity with an 87,076 square foot industrial lease in Boise
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Treasure Valley industrial vacancy climbs a full point to 11.6% as new supply deliveries continue to outpace tenant absorption
Key takeaways
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Intermountain MLS reports 1,767 new construction home sales across Ada and Canyon counties, an 11% YoY increase
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Ada County commercial land listings climb nearly 70% to 2,474 acres, the largest gain among Idaho's major markets
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Canyon County residential land inventory tightens to 347 acres from 638 in Q1, reflecting strong sales absorption
Key takeaways
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Treasure Valley office asking rates climb to $24.24 per square foot per year, up both quarter over quarter and year over year despite softer absorption
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Downtown Boise and Eagle run against the regional trend, posting 25,000 and 31,000 square feet of positive absorption in a quarter of valleywide losses
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Treasure Valley office vacancy edges up to 6.8% as Ada County move-outs in Southeast Boise and the West Bench total nearly 170,000 square feet
Key takeaways
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Kuna posts the valley's strongest retail net absorption at 45,708 square feet, extending its run as one of the region's fastest growing submarkets
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Kuna leads all Treasure Valley submarkets in retail net absorption, absorbing more than 45,000 square feet in Q2
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Suburban submarkets drive Q2 retail growth, led by Kuna's 45,708 square feet of positive net absorption
Key takeaways
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Southern Idaho industrial construction expands significantly with nearly 154,000 square feet currently underway
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Southern Idaho office vacancy compresses to a tight 1.3%, driven by 10,300 square feet of positive net absorption
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Eastern Idaho industrial asking rents climb to $0.80 per square foot with 65,500 square feet under construction
Key takeaways
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Ada County delivers over 800,000 square feet of new industrial inventory, primarily expanding the airport submarket
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Mesa Systems, Inc. secures a major industrial lease for 47,520 square feet, leading Q1 market activity in Boise
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Treasure Valley industrial vacancy increases to 10.6% as new supply deliveries outpace current tenant absorption
Key takeaways
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Ada County office development pipeline remains robust with 570,000 square feet of space currently under construction
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Mountain Care Pharmacy completes the significant sale of a 65,212 square foot office property in the Boise market
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Balt CP Ponderosa finalizes the sale of a 36,496 square foot office building, driving investment activity in Meridian
Key takeaways
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Intermountain MLS reports 1,404 new construction home sales across Ada and Canyon counties, a 12% YoY increase
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Canyon County residential land listings surge to 638 available acres, showing massive growth from the prior quarter
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Nampa Point Associates, LLC acquires 39 acres of land in Nampa, highlighting continued regional development demand
Key takeaways
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Star submarket sees retail asking rates jump 12% as strong tenant demand drives vacancy down to a tight 0.7%
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D & B Supply completes the significant sale of a 109,000 square foot retail property in the Caldwell submarket
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Vasa Fitness secures a major retail lease for 67,108 square feet, anchoring new market activity in Boise
Key takeaways
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Office leasing accelerates with Eastern and Southern Idaho each recording ~44,500 square feet of positive net absorption
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Industrial leasing turns positive, driven by Eastern Idaho absorbing approximately 23,200 square feet of space this quarter
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Retail construction stays active with roughly 56,000 square feet of space underway in both Southern and Eastern Idaho
Key takeaways
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Treasure Valley office market absorbs over 57,500 sq. ft. as vacancy tightens to 6.3%, signaling a balanced recovery
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Developers advance 606,000 sq. ft. of new office inventory, maintaining momentum despite zero Q4 deliveries
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Idaho Commission of Pardons & Parole leases 15,640 sq. ft. in Boise, highlighting sustained public sector demand
Key takeaways
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Canyon County commercial land prices jumped to $716,473 per acre, while Southern Idaho listings surged 147%
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Commercial permits reached $3 billion in value, capturing 53% of the total market and outpacing residential projects
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Treasure Valley home sales grew 7.2% to 11,702 units, driven by Idaho’s steady 1.5% annual population increase
Key takeaways
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Treasure Valley net absorption rebounded to over 250,000 square feet, marking a decisive return to positive growth
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Canyon County fueled the recovery with nearly 170,000 square feet of absorption, driven by demand for new inventory
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Regional vacancy stabilized at 4.1%, remaining significantly tighter than national averages despite new supply
Key takeaways
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Net absorption rebounds to over 242,000 square feet, driving a market-wide recovery after a negative previous quarter
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Border States Industries leases 28,000 square feet in Nampa, leading a wave of new activity in the Canyon County submarket
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Vacancy tightens to 9.3% as lease rates climb to $1.13/SF, with small-bay industrial units commanding premium pricing
Key takeaways
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Meridian approves a 121-acre mixed-use redesign adding 848 apartments and 35 townhomes near The Village
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Dorado Station breaks ground on 212 income-restricted units, boosting affordable housing on the Boise Bench
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Idaho ranks as the second-fastest growing state, leading the nation with a 2.2% increase in housing units
Key takeaways
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Office, Retail and Industrial sectors all saw negative absorption in Q3, led by Southern Idaho (–21.7K SF office, –77.4K SF retail, –93.2K SF industrial).
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Vacancy remains tight across markets—generally lower in Southern Idaho (1.8–3.5%)—while Eastern Idaho posts higher asking rates in office and retail, but lower in industrial.
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Construction activity is minimal, with limited new space underway—mostly in Southern Idaho’s industrial sector and Eastern Idaho’s retail segment.
Key takeaways
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Office market showing stabilization in Q3 2025, with slightly higher vacancy and continued negative absorption.
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Regional strength: overall vacancy remains well below national levels, and absorption improved moderately during the quarter.
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Long-term support comes from Boise MSA fundamentals, including strong labor force growth and ongoing infrastructure investment.
Key takeaways
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Industrial market softened in Q3, with higher vacancy, negative net absorption, and mixed movement in asking rates.
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Market rebalancing follows an extended period of expansion, similar to other property types in the region.
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Supply and demand dynamics: new deliveries and construction give tenants more options, while demand is stabilizing rather than declining.
Key takeaways
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Treasure Valley retail moved toward stabilization in Q3 2025 after rapid expansion, with demand remaining steady despite negative YTD absorption.
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Ada County saw modest asking rate gains supported by population and labor force growth, while Canyon County experienced a slight correction.
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Overall, the quarter marked a return to equilibrium across the retail market.
Key takeaways
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Home prices and sales rose in 2025, with Ada County new homes at $552,495 (+0.46%) and Canyon County at $464,476 (+9.3%); total home sales in both counties increased 7.9% YTD.
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Employment and population growth remain strong, with Idaho employment at 972,377 (+0.29%), a 3.7% unemployment rate, and population growing 1.5% in 2024—above the national average.
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Commercial land listings shifted regionally: Eastern and Canyon counties grew, Ada County declined, and total statewide listed acreage fell slightly in Q3.
Key takeaways
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Boise and Meridian boast some of the lowest unemployment rates in the state, fueling steady in-migration and local spending
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Rental prices and home sales continue to climb, reflecting strong demand and tight inventory across the Treasure Valley
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Population and labor force growth signal the need for thousands of new housing units annually to keep pace with demand
Key takeaways
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Office vacancy in the Treasure Valley remains far healthier than the national average, with Ada County showing early signs of stabilization
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Asking rates rose in both Ada and Canyon counties, signaling resilience and landlord confidence despite shifting demand
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Net absorption remains negative but is improving, supported by strong regional economic fundamentals and long-term growth potential
Key takeaways
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Retail asking rates surged in Canyon County but dipped in Ada County, with the Treasure Valley maintaining strong pricing momentum overall
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Net absorption revealed contrasting trends, with gains in Ada County offset by a significant decline in Canyon County occupancy
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Vacancy in Canyon County spiked due to challenges in the Idaho Center Submarket, while Ada County remains below the national average
Key takeaways
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Home prices in both Ada and Canyon counties continued to climb year-over-year, with new single-family homes seeing increases of over 3%
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Home sales activity rose sharply in the first half of 2025, up 7.6% compared to the same period last year across Ada and Canyon counties
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Idaho’s population and employment growth remain strong, while commercial land availability saw subtle shifts across regions
Key takeaways
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Industrial absorption surged by nearly 383,000 square feet across the Treasure Valley, with Canyon County leading the charge in new deliveries
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Big box space continues to reshape the market while shallow bay options tighten, driving Ada County vacancies down to just 1.8%
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Asking rates are climbing steadily, with both Ada and Canyon counties posting quarter-over-quarter gains above $1.00 per square foot
Key takeaways
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Office, Retail, and Industrial markets in Eastern and Southern Idaho remain strong, supported by population growth, job gains and active leasing
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Vacancy rates are low across all sectors, with office at 1% in Southern Idaho, retail below 3%, and industrial continuing to tighten
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Asking rates are rising, especially in Southern Idaho, driven by demand, limited supply and improved market data access
Key takeaways
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Kuna approves rezoning for $1 billion Gemstone Technology Park, paving the way for a major data center development
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Chobani invests $500 million to expand its Idaho facility by 500,000 square feet and create at least 160 new jobs
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Tractor Supply Co. to build an 865,000 square foot distribution center in Nampa, serving over 200 stores across the Pacific Northwest
Key takeaways
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Joann Fabrics has closed all 8 of its Idaho stores, with the locations now headed to auction.
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The 123-year-old Adelmann Building in downtown Boise is on the market for $4.6 million, offering a rare opportunity to own a piece of local history.
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Life Time plans to open its first “athletic country club” in the Treasure Valley, taking over 135,000 square feet at 1650 E. Riverside Dr. in Boise.
Key takeaways
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Two new 6-story condos with retail, residential and office space planned for 8th Street in Downtown Boise, continuing the area’s transformation
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Meridian Road widening project underway to accommodate projected 55% traffic increase over the next 25 years
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Intuit to cut 715 jobs company-wide; former TSheets building in Eagle now listed for sublease
Key takeaways
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Redevelopment and expansion projects are underway, including new townhomes in Twin Falls and a proposed street expansion in Ammon.
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Retail growth is strong, with major openings from Sierra and WinCo in Twin Falls and Rexburg, plus new development at University Towne Center.
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Industrial and education investment continues with the College of Eastern Idaho’s Future Tech Building advancing STEM programs in the region.