Spokane’s Biggest Office Leases May Offer Clues About the Future of Boise Commercial Real Estate
A lot of people still assume office real estate is struggling everywhere.
But that is only part of the story.
In many secondary markets across the Northwest, office leasing activity is not disappearing — it is evolving.
And a recent wave of large office leases in Spokane may provide useful insight into where Boise commercial real estate could be headed next.
According to reporting by CoStar Research, several major office leases closed across the Spokane market during the first quarter of 2026, including deals involving government agencies, healthcare providers, nonprofit organizations, and real estate companies. You can read the original CoStar report here: CoStar News article
The deals highlight something important:
well-positioned office space in growth-oriented regional markets is still attracting tenants.
And Boise may be following a very similar path.
What Spokane’s Leasing Activity Reveals
The leases recognized by CoStar included a mix of:
- government tenants
- healthcare operators
- nonprofits
- professional services firms
- real estate companies
That variety matters.
It shows office demand is no longer being driven by only one industry.
Instead, many stable office users are still expanding, renewing, or relocating into spaces that offer:
- strong locations
- mixed-use environments
- updated buildings
- convenience for employees and customers
Among the larger Spokane leases highlighted:
- The U.S. government leased more than 12,000 square feet at Rock Pointe Tower
- Spokane Sports signed a new lease at the historic Flour Mill property
- MultiCare renewed office space at Northpointe Office Building
- Concentra renewed space in a mixed-use project
- Coldwell Banker Tomlinson leased new office space in South Hill
That combination of renewals and new leases is important because it signals ongoing confidence in office space when the product and location align with tenant needs.
Why This Matters for Boise Office Space
Boise has several similarities to Spokane:
- regional economic growth
- population migration
- expanding healthcare systems
- growing professional services sectors
- rising suburban development
And Boise office leasing trends are increasingly showing the same pattern:
tenants are becoming more selective rather than abandoning office space entirely.
Today’s office users typically want:
- updated buildings
- flexible layouts
- strong parking access
- walkable amenities
- mixed-use surroundings
- efficient operating costs
That benefits newer and well-located office properties across the Treasure Valley.
The Rise of Mixed-Use Office Environments
One trend that stands out from Spokane’s top leases is the number of deals tied to mixed-use projects or destination-style properties.
That trend matters for Boise development because mixed-use environments continue gaining traction throughout the Treasure Valley.
Properties that combine:
- office
- retail
- restaurants
- housing
- entertainment
- public gathering spaces
often perform better because they create stronger employee and customer experiences.
Boise developers are already leaning heavily into this model in areas like:
- downtown Boise
- Meridian
- Eagle
- Kuna growth corridors
- suburban mixed-use centers
As office users shrink footprints but demand higher-quality environments, mixed-use projects may continue outperforming more traditional standalone office buildings.
Healthcare and Government Tenants Continue Supporting Stability
Another major takeaway from Spokane’s leasing activity is the importance of healthcare and government tenants.
Those sectors often provide long-term lease stability during uncertain economic periods.
That is relevant for Boise because healthcare continues expanding rapidly throughout the Treasure Valley.
Medical office demand remains one of the more resilient categories in commercial real estate because:
- population growth drives patient demand
- healthcare systems continue expanding
- outpatient care models require more locations
- suburban growth creates new service needs
Government-related office users also continue providing stability in many Northwest markets.
That could help support parts of the Boise office market even while some private-sector tenants remain cautious.
Local Market Impact: Boise’s Office Market Is Changing, Not Collapsing
The national headlines around office real estate often focus on large coastal cities struggling with high vacancy and remote work shifts.
But secondary markets like Boise are different.
Boise still benefits from:
- population growth
- lower operating costs
- business migration
- quality of life advantages
- continued economic expansion
That does not mean every office property will succeed.
But it does mean demand may increasingly concentrate into:
- Class A office buildings
- mixed-use environments
- suburban office nodes
- medical office projects
- flexible office layouts
Older, outdated office properties without amenities may face more pressure moving forward.
Meanwhile, better-positioned projects could continue attracting tenants even in a slower office environment.
My Take
I think the Spokane leasing activity reinforces something many Boise brokers and investors are already seeing firsthand:
Office space is not disappearing.
It is becoming more specialized.
Tenants are being far more intentional about where they locate, how much space they use, and what kind of environment they want around them.
That creates challenges for some buildings.
But it also creates opportunities for:
- redevelopment
- repositioning
- mixed-use integration
- higher-quality suburban office projects
- medical office expansion
For Boise commercial real estate, the future of office may not be about sheer square footage growth.
It may be about creating better environments that align with how companies and employees actually work today.
Mike Gioioso (joy-OH-so) has for 16+ years been helping companies of all sizes buy, build, and lease perfect places for business in greater Boise, Idaho and beyond.
www.streetsmartidaho.com mike@streetsmartidaho.com 208-209-9166
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