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Office space in Utah continues to show strong growth. We recently published our NGA Q3 Market Report. It’s hard to fathom, but vacancy in Salt Lake City has dipped below 5% in the Class A office markets- and below 10% in the Class B world. A simple translation would suggest that tenants looking for certain size parameters in certain classes will find that vacancy and opportunity… doesn’t exist (or is very hard to find).
Quarterly reports are not created for Davis/Weber Counties, but similar trends are following with decreased vacancy and rising rates.
The investment world also continues to be very strong with repressed interest rates and lack of readily-available, strong-credit product.
If you have questions about the market today or this report, or if you have property that you’d like to discuss, please don’t hesitate to reach out.
Chris Falk is a Certified Commercial Investment Member (CCIM)—one of the most comprehensive commercial real estate designations, held by an estimated 6% of commercial brokers nationally. As a commercial real estate broker, Chris has handled over 600 transactions exceeding $475MM. Born and raised in Utah, Chris understands the unique qualities of the region and the great capacity for business opportunities in Northern Utah, including Davis, Weber and Salt Lake Counties. Chris is the premier, go-to agent for businesses and developers interested in this dynamic area.
