Second Quarter 2012 Utah State Commercial Real Estate Market Reports

Second Quarter 2012 Utah State Commercial Real Estate Market ReportsSALT LAKE CITY OFFICE REPORT: The overall direct combined vacancy rate for all property types in the Salt Lake City Metro Office Market stands at 14.86%, an increase of more than one percentage point from year-end 2011.Read Q2 Salt Lake City Office Report

SALT LAKE CITY INDUSTRIAL REPORT: The overall vacancy rate has remained relatively flat, now sitting at 9.05%. We have about a two year supply of inventory in the 10 million square feet total of Salt Lake County industrial vacant space which is typical in this part of the market cycle. Read Q2 Salt Lake City Industrial Report

SALT LAKE CITY RETAIL REPORT: Discount retailers are hot, the expansion plans of retailers like Ross, Marshal’s, TJ Maxx, Jo-Ann Fabrics, Shoe Carnival and Rue 21 has been very aggressive over the past 6 months. Read Q2 Salt Lake City Retail Report

SALT LAKE CITY INVESTMENT REPORT: Year-over-year the investment market experienced an increase in sales activity/volume for all segments as follows: Apartments: 140%, Office: 80%, Industrial: 33%, Retail: 9%. Read Q2 Salt Lake City Investment Report

DAVIS COUNTY REPORT: Office vacancy rates are on the rise in Davis County, especially in North Davis County where the Falcon Hill development is taking shape. The industrial segment remains strong with an overall vacancy rate of 6.28%. Over the past year the retail vacancy rate has gone from 11.75% to 10.52%. Read Q2 Davis County Report

WEBER COUNTY REPORT: The overall office vacancy rate has declined significantly from the same period last year, with the largest absorption occurring in Class A type buildings. Although there has been a slight increase in industrial vacancy rates from the same period last year, the industrial market has been vibrant. Read Q2 Weber County Report

UTAH COUNTY REPORT: Industrial vacancy is at it’s lowest point in years and users are now more willing to buy land and start building their own projects. Retail market activity is slower than desired but new construction projects and vacancy rates show promise. Office landlords continue to offer low rates and concessions to curb vacancy, however there are signs of improvement. Read Q2 Utah County Report

WASHINGTON COUNTY REPORT: The office market showed signs of improvement in the first half of 2012. The industrial market has continued to see strong interest and absorption. Retail vacancy rates have fallen almost a full percentage point from 9.01% to 8.03%. Read Q2 Washington County Report

SUMMIT COUNTY REPORT: The market-wide office vacancy rate has decreased by 2.7% from the 2011 year-end report. Absorption in the first half of 2012 has reduced vacancy rates in office and industrial properties. The Main Street Historic District retail market remains strong, as indicated by low vacancy, estimated 5.0%. Read Q2 Summit County Report

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