Future Cities

Emerging Industrial Markets: Boise

28 Jun 2022

Boise, Idaho
Significant occupier demand, historically low vacancy and strong population growth have led to record speculative industrial development in the Boise metropolitan area. With an influx of manufacturing and distribution operations to the area, the need for industrial real estate has never been greater. We expect that the Boise industrial market, which has been largely underserved until now, will grow significantly in the next several years.
Jake MillerSIOR, CBRE First Vice President

Demographics

Approximately 960,500 people live within a 100-mile radius of the Boise metro area, with a projected growth rate of 2.0% over the next five years. The important 18-to-34 age group accounts for more than 22.8% of the total population. Within 250 miles, occupiers can reach 2.5 million consumers.

Figure 1: Boise Population Analysis

Source: CBRE Location Intelligence.

Boise has a warehouse labor force of 8,507, which is forecast to grow by 31.1% over the next decade, according to CBRE Labor Analytics. The average hourly wage for a non-supervisory warehouse worker with one year of experience is $15.84. The average forklift operator earns approximately $16.90 per hour.

Figure 2: Boise Warehouse & Storage Labor Fundamentals

Source: CBRE Labor Analytics.