Archive for the ‘UTAH QUARTERLY REPORTS’ Category:

Oct
18
Utah’s Commercial Real Estate Office Market Grows as Investment Activity Nears All-Time Record

SALT LAKE CITY, UT – Oct. 18, 2016 – The commercial real estate market in Utah continues to strengthen according to the third quarter Marketbeat report from Cushman & Wakefield Commerce. While the investment, retail and industrial markets all reporting a strong quarter, the office market was a standout as nearly 16,000 jobs have been added over the past year alone.

Apr
28
Strong Salt Lake Retail Market Continues to Tighten

utretail

SALT LAKE CITY, UTAH April 28, 2016 – Salt Lake retail activity remained strong during first quarter 2016, with overall vacancy decreasing by one percentage point year-over-year, according to Cushman & Wakefield/Commerce. This tightening has pushed average asking rates up more than 11 percent during the same period. Absorption remained positive, with community and regional centers performing strongest, indicating continued demand for quality space in new, anchored projects.

Apr
25
Utah Investment Market Kicks-Off Historic Start to 2016

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SALT LAKE CITY, April, 25, 2016 – The Utah investment market experienced the strongest first quarter on record according to Cushman & Wakefield/Commerce, with total sales volume surpassing a half-billion dollars. At this pace, 2016 is expected to exceed $2 billion by end-of-year for the first time in state history.

Apr
20
Robust Salt Lake Industrial Market Shines First Quarter 2016

SLC_Industrial

SALT LAKE CITY, April 20, 2016 – The Salt Lake industrial market experienced tightening during first quarter 2016 with overall vacancy down and leasing activity outpacing first quarter 2015 by 17.7 percent according to Cushman & Wakefield/Commerce. These indicators along with net absorption reaching more than 400,000 square feet validate high market demand.

Apr
7
Salt Lake Office Market Poised for a very Promising 2016

New Picture

SALT LAKE CITY, April 6, 2016 – According to Cushman & Wakefield/Commerce’s first quarter MarketBeat report, Salt Lake office market fundamentals remained strong, positioning the sector for another impressive year. With an overall vacancy of 11.8 percent, lease rates pushed higher, increasing by 4.8 percent year-over-year. Additionally, the imminent completion of 1.3 million square feet of new construction, almost 70 percent of which is preleased, in 2016 will drive high absorption numbers.

Mar
24
Cushman & Wakefield/Commerce Research Shows High Demand for Medical Office Space in Salt Lake City

New Picture

SALT LAKE CITY, March 24, 2016 – Cushman & Wakefield/Commerce released its 2015 year-end medical office market report which shows a strong overall year for leasing and absorption activity. Ambulatory care centers and several large healthcare providers competed for space across the Wasatch Front, as the trend of more healthcare services being offered near high populated areas continued.

Feb
11
Cushman & Wakefield/Commerce Research Shows Record Breaking Numbers and Positive Trends in Utah’s Commercial Real Estate Market

New Picture

SALT LAKE CITY, Feb. 11, 2016 –Cushman & Wakefield/Commerce released its 2015 year-end market review which shows an exceptional overall year for commercial real estate in the State of Utah. With a new record set for total annual investment sales and the addition of 48,400 jobs, Utah’s unemployment rate stands at 3.5 percent, a full 1.5 percentage points below the national average.

Jan
21
Salt Lake City’s Investment Sales Reach Another Record-Setting Year

investment

SALT LAKE CITY, Jan. 20, 2016 – Cushman & Wakefield/Commerce today announced that 2015 was a record-setting year for investment sales, with nearly $1.9 billion in total volume, just edging above the $1.8 billion record set in 2014.

Jan
14
Salt Lake County Industrial Absorption Exceeds Five Year Average

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SALT LAKE CITY, Jan. 13, 2016 – According to Cushman & Wakefield/Commerce, Salt Lake County industrial demand remained strong, pushing absorption to nearly 2 million square feet, which continued to exceed the five year average.

Activity remained strongest in spaces in excess of 100,000 square feet with both leasing and sale activity reaching the second highest level in the past five years. This is due to the proximity Salt Lake City offers by way of distribution and logistics chains. Salt Lake City reaches all markets from Denver, Phoenix, Los Angeles, San Francisco, Oregon and others within a 24 hour drive, making it an excellent and dynamic location for distribution. Expect to see strong activity in this sector throughout 2016.

Jan
12
Salt Lake Office Market Experiences Strongest Year in Nearly a Decade

office

SALT LAKE CITY, Jan. 11, 2016 – The latest report from Cushman & Wakefield/Commerce shows activity in the Salt Lake office market ended 2015 strong with net leasing absorption near 976,127 square feet, just shy of peak year 2007.

This strong leasing activity is supported by significant transactions such as CHG’s lease of 281,663 at View 72, Ancestry.com’s lease of 200,317 square feet at Traverse Mountain, and SolutionReach’s lease of 147,000 square feet at Thanksgiving Point.

Jan
7
Salt Lake County Retail Market Ends the Year Strong, As New Developments Continue to Shape 2016

retail

Salt Lake City, Jan. 7, 2016 – According to Cushman & Wakefield/Commerce, the retail market in Salt Lake County finished 2015 on a strong note with an overall vacancy of 5.8 percent compared to 6.2 at the end of 2014, leaving high expectations for continued growth in 2016.

Nov
25
Residential Construction and Job Growth in Utah Fuel Retail Commercial Real Estate Growth

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SALT LAKE CITY—Nov. 24, 2015—According to the Cushman & Wakefield/Commerce third quarter MarketBeat Retail Snapshot, the outlook for the retail industry in Salt Lake remained strong, with lease rates moving higher as new product becomes available.

Nov
12
Commercial Real Estate Investment Sales in Utah on Track to Eclipse 2014’s Record-Breaking Year

SALT LAKE CITY—Nov. 12, 2015—Utah commercial real estate investment sales were up more than 55 percent, according to Cushman & Wakefield | Commerce’s third quarter MarketBeat Investment Snapshot.

Oct
16
Salt Lake Industrial Market Shows Incremental Changes in Q3

Salt Lake City, Utah–10/13/15–The Salt Lake County commercial real estate market has seen incremental change across the board in third quarter of 2015. A new report from Cushman & Wakefield | Commerce reaffirms the ongoing growth in the industrial sector, in particular.

Oct
8
Salt Lake City Office Market Sees Unusually High Activity in Q3, 2015

Q3_Commercial_Real_Estate_Utah

Salt Lake City, Utah–Oct. 8, 2015–According to the latest market stats, Salt Lake County’s office real estate sector has seen a strong surge of activity during third quarter of 2015. There is normally a lull in leasing during this time of the year, which has not been the case. For current and historic market reports see http://www.comre.com/research.

Jul
8
Utah Seeing Unprecedented Commercial Real Estate Trends for Second Quarter 2015

SaltLakeQ22-15

SALT LAKE CITY—July 8, 2015—The commercial real estate market in Salt Lake City is continuing the year with strong numbers, particularly in rental rates and the high level of new space under construction, according to the latest office market statistics from Cushman & Wakefield | Commerce.

Apr
24
2015 Q1 MarketBeat Utah Investment Snapshot: Another Strong Year Expected, Demand for Investment Product Remains High

SLC_investment

OVERVIEW

-Total sales volume for first quarter is second only to last year’s historic start
-With the highest number of first quarter transactions since 2006, demand for investment product remains high
-Weighted-average cap rates on core property types (apartments, industrial, office and retail), remain at near-historic lows of 7.02%
-With a record eight properties exchanging at above $50 million last year, fewer trophy assets have been available, causing a decline in average sales price
-Another strong year is expected, with cap rates steadily compressing, demand for product will continue to outpace supply in the market

Apr
24
2015 Q1 MarketBeat Salt Lake City Retail Snapshot: Grocery Market Continues to be a Hot-Spot

SLC_retail

The retail market showed its strength as 162,003 square feet of space was absorbed during Q1 2015. This strong absorption pushed the overall vacancy rate down by 0.5 percentage point on a year-over-year basis to just 6.6%. During this same period, the average asking lease rates increased by 1.7% to $19.02 per square foot NNN.

Apr
20
2015 Q1 MarketBeat Salt Lake City Industrial Snapshot: Industrial leasing activity increased by 8.2% over the same period in 2014

industrial

The U.S. economy continued to add jobs at a high rate as job growth expanded by 2.4% over the last year, pushing the unemployment rate to just 5.5%. Even with stronger employment numbers, wage pressure remained moderate, mainly occurring in specialized jobs.

Utah continued to outpace the overall economy, adding jobs at a rate of 4.2%, with employment gains occurring in nine out of 10 categories. With this job growth, the unemployment rate remained at 3.4%, which has caused job shortages in specific industries and occupations. For 2015, Utah is expected to see job growth of 2.8%, which would result in 37,200 new jobs.

Apr
20
2015 Q1 MarketBeat Salt Lake City Office Snapshot: Tech firms and VC funding major drivers of office expansion

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The U.S. economy continued to add jobs at a high rate as job growth expanded by 2.4% over the last y ear, pushing the unemployment rate to just 5.5%. Even with stronger employment numbers, wage pressure remained moderate, mainly occurring in specialized jobs.

Utah continued to outpace the overall economy, adding jobs at a rate of 4.2%, with employment gains occurring in nine out of 10 categories. With this job growth, the unemployment rate remained at 3.4%, which has caused job shortages in specific industries and occupations. For 2015, Utah is expected to see job growth of 2.8%, which would result in 37,200 new jobs.

Jan
29
Cushman & Wakefield | Commerce Reports Utah Commercial Real Estate Broke All-Time Investment Record of $1.8 Billion in 2014

 22New Picture

SALT LAKE CITY—Jan. 28, 2015—The Cushman & Wakefield | Commerce (www.comre.com) 2014 Year-End Market Review reports that total commercial real estate investment sales topped $1.8 billion, which is the highest level in the state’s history.

Nov
6
Utah on Track for Historic Year in Commercial Real Estate

2 office New Picture

SALT LAKE CITY—Nov. 6, 2014—Cushman & Wakefield | Commerce has published its third quarter 2014 Marketbeat Snapshot reports outlining the state of the commercial real estate market in Salt Lake County. Several remarkable trends have emerged that highlight the extraordinary strength of the Utah commercial real estate market. The following are the top five take-away trends from the Q3 2014 Marketbeat Snapshot reports:

May
14
Cushman & Wakefield | Commerce Utah Marketbeat Reports Show Strong Fundamentals for First Quarter 2014 Commercial Real Estate

SALT LAKE CITY—May 14, 2014—Cushman & Wakefield | Commerce (www.comre.com) released its Q1, 2014 Marketbeat Snapshot reports outlining the state of commercial real estate in Utah including reports for the office, industrial, investment and retail markets.

Feb
4
Cushman & Wakefield | Commerce Reports 2013 was a Strong of Year for Expansion of Commercial Real Estate in Utah

SALT LAKE CITY—Jan. 30, 2013—The Cushman & Wakefield | Commerce (www.comre.com) 2013 Year-End Market Review reports that in Utah, 2013 saw commercial real estate returning to pre-recessionary levels in several categories. The most prolific being total investment sales coming at their second highest level of all time.

“Once again, Utah has seen a stellar year of growth and development, and has received numerous national accolades for its stability, pro-business environment and high quality of life,” said Michael Lawson, President of Cushman & Wakefield | Commerce. “The commercial real estate market in Utah saw a shift in 2013 as it drove past the effects of the recession with all property types moving beyond stabilization into a period of expansion. By end of year, Utah had recorded the second highest level of investment sales activity in the state’s history with nearly $1.4 billion in sales. With numerous construction projects lining up, 2014 is anticipated to be another strong year for commercial real estate.”

Nov
7
Cushman & Wakefield | Commerce Reports Strong Office, Retail and Investment Segments in Q3 2013

SALT LAKE CITY—November 7, 2013—Cushman & Wakefield | Commerce recently released its most recent Marketbeat Snapshot reports for Salt Lake City detailing the state of the market for Q3 2013. The reports show the state of Office, Retail, Industrial and Investment commercial real estate market segments.

Sep
26
Cushman & Wakefield | Commerce Releases First Study on Medical Office Building Vacancies and Growth in Utah

SALT LAKE CITY—September 25, 2013—Cushman & Wakefield | Commerce (www.comre.com) announced the release of the Q2 2013 Medical Office Snapshot. On campus medical office buildings remain in the highest demand with Class A and Class B building vacancies remaining under 10 percent. Alternatively, off campus medical office buildings continue to have higher vacancy rates than their on campus counter parts.

Aug
6
Cushman & Wakefield | Commerce Reports Utah on Track for $1 Billion in Commercial Real Estate Investment Transactions

Commerce Reports Utah on Track for $1 Billion in Commercial Real Estate Investment TransactionsSALT LAKE CITY—Aug. 6, 2013—Cushman & Wakefield | Commerce (www.comre.com), released its Investment Snapshot Report for Utah today. The report shows that to date, Utah has seen $566,950,526 in commercial real estate investment transactions and the state is on track to top more than $1 billion in sales by the end of the year.

“The trends we reported in Q1 2013 continued to move through Q2, and Utah is on track to wrap up a very exciting year when it comes to commercial real estate investment sales,” said Michael M. Lawson, president and CEO of Cushman & Wakefield | Commerce. “With more than $500 million in transactions so far this year, Utah is poised to break the $1 billion mark for the first time since 2007. If that happens, it will be only the fourth time this market has ever reached that milestone.”

Interest rates are still low; however they are expected to increase sometime in the future. This expectation is driving many buyers to lock in deals while interest rates are still low. Looking forward, the report indicates that several office properties will be coming to the market soon; in the meantime, it is the apartment market that is dominating the sector with $237,379,750 in sales year to date.

The full Q2, 2013 Utah Snapshot Reports for Office, Investment, Retail and Industrial markets may be accessed at the following:

Investment:Salt Lake Investment Report 2Q13.pdf

Office: SaltLake Office Report_2Q13.pdf

Industrial:Salt Lake Industrial Report_2Q13.pdf

Retail: SaltLake_Retail Report_2Q13.pdf

 

Regional Reports:

Davis County:Davis County Report_2Q13.pdf

Summit County:Summit County Report_2Q13.pdf 

Utah County:Utah County Report_2Q13.pdf

Weber County:Weber County Report_2Q13.pdf

Washington County:Washington County Report_2Q13.pdf

 

About Cushman & Wakefield | Commerce

Cushman & Wakefield | Commerce, an independently owned and operated member of the Cushman & Wakefield Alliance, has been the leading provider of real estate brokerage services for more than 30 years. Headquartered in Salt Lake City, the firm has offices throughout Utah, Nevada, Idaho and Washington. It offers consulting, brokerage, tenant and landlord representation, property and facilities management, and valuation services to corporations, institutions and investors throughout the Intermountain West and Pacific Northwest.  For more information, and for property listings, broker information, market category reports and more visit www.comre.com.

Jan
30
Cushman & Wakefield | Commerce Reports Utah Commercial Real Estate Poised for Continued Strong Growth in 2013

SALT LAKE CITY—Jan. 28, 2013—The Cushman & Wakefield | Commerce (www.comre.com) 2012 Year-End Market Review shows that for Utah, 2012 was a stellar year of continued recovery. The research data reflects a year of stabilization with positive absorption occurring in all commercial real estate product types, suggesting renewed confidence and steady growth going forward.

“The Utah economy has grown at nearly five times the national average and continues to receive honors and accolades for its favorable business environment and economic growth,” said Michael Lawson, CEO of Cushman & Wakefield | Commerce. “The commercial real estate market in Utah has stabilized over the past two years, but with vacancy rates leveling out, a dramatic increase in construction activity and a jump in investment sales, the data is pointing to an even stronger year in 2013.”

Aug
9
Cushman & Wakefield | Commerce Reports Optimistic Upturn for Utah Commercial Real Estate Market in Q2

SALT LAKE CITY—Aug. 7, 2012—Commerce Real Estate Solutions, an independently owned and operated member of the Cushman & Wakefield Alliance (www.comre.com), released its Marketbeat Snapshot reports detailing the second quarter status of the commercial real estate market in Utah.

The reports show that retail space is hot, and even though office vacancies are up slightly in Salt Lake City they are down in the suburbs and outlying high growth communities. The industrial market may be flat, but the investment market saw an increase in sales activity and volume for all real estate segments in Q2 2012.

“Utah’s economic growth has seen rates at more than double the national average, and Utah is expected to add about 30,000 more jobs this year than last year,” said Michael M. Lawson, president and CEO of Commerce. “This, coupled with a population and corporate influx into the state is cause for optimism in the commercial real estate market. We see continued improvement in the Intermountain region through the end of the year. Property owners and investors alike should be able to leverage this positive environment throughout 2012 and well into 2013.”

May
4
First Quarter 2012 Utah Commercial Real Estate Market Reports

First Quarter 2012 Utah Commercial Real Estate Market ReportsSALT LAKE OFFICE REPORT: The overall direct combined vacancy rate for all property types in the Salt Lake City Metro Office Market stands at 14.7%, an increase of nearly one percentage point from year-end 2011. Read Q1 Office Report

SALT LAKE INDUSTRIAL REPORT: The overall vacancy rate has slightly increased to 9.10% from 8.60% last quarter even as market activity increased suggesting other companies are still downsizing and giving up space. Read Q1 Industrial Report

SALT LAKE INVESTMENT REPORT: The overall trend of investment activity is increasing. However, a temporary 16% softening in dollar volume occurred during the first quarter when comparing year over year results. The number of transactions remained steady.Read Q1 Investment Report

SALT LAKE RETAIL REPORT: The new 800,000+ square foot City Creek project opened in March, 2012 with a roster of new tenants to the Utah market including luxury brands such as Tiffany and Co., Rolex, Porsche Design, Tumi, Coach, Michael Kors, BCBGMAXAZRIA and others. Read Q1 Retail Report

UTAH COUNTY REPORT: Modest improvement in vacancy across the board from year end 2011 to Q1 2012. Read Q1 Utah County Report

 

Jan
30
2011 Year-End Utah Commercial Real Estate Market Reports

Aug
4
Second Quarter 2011 Utah Commercial Real Estate Market Reports

Jan
25
Fourth Quarter 2010 Utah CRE Market Reports

Nov
2
Third Quarter 2010 Salt Lake County Market Reports

Jul
13
Second Quarter 2010 Utah Market Reports

Apr
21
Salt Lake County 2010 Q1 Office Market Report

Download the Salt Lake County 2010 Q1 Office Market Report Here

Apr
21
Salt Lake County 2010 Q1 Industrial Market Report

Apr
21
Salt Lake County 2010 Q1 Retail Market Report

Salt Lake County 2010 Q1 Retail Market Report

 

Download the entire report: Download Retail Q1