Cushman & Wakefield | Commerce Reports Utah on Track for $1 Billion in Commercial Real Estate Investment Transactions
SALT 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
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.
About Cushman & Wakefield
Cushman & Wakefield is the world’s largest privately‐held commercial real estate services firm. The company advises and represents clients on all aspects of property occupancy and investment, and has established a preeminent position in the world’s major markets, as evidenced by its frequent involvement in many of the most significant property leases, sales and assignments. Founded in 1917 it has 243 offices in 60 countries and more than 14,000 employees. It offers a complete range of services for all property types, including leasing, sales and acquisitions, equity, debt and structured finance, corporate finance and investment banking, corporate services, property management, facilities management, project management, consulting and appraisal. The firm has more than $4 billion in assets under management through its wholly‐owned subsidiary Cushman & Wakefield Investors. A recognized leader in local and global real estate research, the firm publishes its market information and studies online at www.cushmanwakefield.com/knowledge.