2Q21 Newmark Salt Lake Office Report

Posted on July 19, 2021

Friends-

Pretty wild that we’re halfway through the summer- on the downhill slope of getting back to school even.  Our market here in Utah continues to improve and many other markets are following Utah’s example of “getting back to the office” sooner-than-later.  Below is a link that references JP Morgan’s directive to do so, with Goldman Sachs and others doing the same.  I regularly answer questions of office vacancy and the perceived work-from-home shift… and let me tell you, perception is not currently reality.  Most companies want their employees back and most company polls show their employees want to return as well.  Utah’s office market (and other commercial sectors) are doing very well and I’m bullish on Utah in comparison to other states for the future.

https://nypost.com/2021/06/24/jpmorgan-bringing-back-office-workers-regardless-of-vaccine-status/

At the bottom of the email is a link to our Q2 2021 SLC Office Market report… should you desire some light reading.

Enjoy July.  Enjoy the summer.  And as always, should you need any assistance or have questions about the market or your assets in general, please don’t hesitate to reach out.

Regards,

Chris Falk  SIOR, CCIM
Executive Managing Director