Boise Industrial Figures Q3 2026

The Boise industrial market continued to stabilize in Q3 2026, with vacancy declining and occupancy trending positively. Net absorption has been positive in each quarter of 2026, totaling 672,000 sq. ft. year-to-date, and vacancy has declined 40 basis points (bps) from 8.6% in Q1 2026 to 8.2% in Q3 2026.

Demand continues to be anchored by supply chain and construction companies making long-term commitments to the market, consisting of both new entrants to the Treasure valley and expanding regional and national occupiers. Firms with ties to Micron represent a meaningful source of ongoing demand, leasing space now with the intent to expand as operations scale, while the semiconductor investment provides a constructive longer-term tailwind for the broader market. Through leasing activity moderated in Q3 2026, year-to-date volume of approximately 1.5 million sq. ft. remained broadly in line with mid-range historical outcomes. A well-positioned pipeline of planned product is ready to deliver once demand conditions warrant, though elevated construction costs and interest rates continue to temper new speculative development.