Posted on October 26, 2015
A recent article published by National Real Estate Investor magazine suggests that the “tight” office conditions in many markets should be around to stay. Office space in Ogden and surrounding Davis and Weber Counties, and Northern Utah in general, with the lack of new product should propel us to what would generally be considered a “Landlord’s” market sooner, than later. With South Davis County absorbing over 90% of the over 225K SF of new product that hit the market less than 2 years ago (deals pending), it would seem that leasing of office space should grow considerably tighter as new, and/or vacant spaces continues to dwindle.
Groups looking for contiguous space north of 7,500SF will have a difficult time locating viable options as the majority of readily-available space is currently tied up.