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:
1. Investment sales volume continued its historic pace and is poised to break the Utah commercial sales record set in 2005. For the full Investment MarketBeat report, see: http://bit.ly/1tdOCeC
2. With no new office product expected until 2016 and an increasing demand for space downtown, the CBD and periphery submarkets are expected to see some of the strongest gains in vacancy over the next year. For the full Office MarketBeat report, see: http://bit.ly/1yZQMnA
3. An already tight industrial market continued to gather steam as the overall vacancy rate decreased by 1.1 percentage points to the current rate of just 6.6 percent. For the full Industrial MarketBeat report, see: http://bit.ly/1y5xe02
4. Acquiring new industrial buildings has presented a challenge for some buyers through 2014 as prices have increased by 25.3 percent for owner-user buildings on a year-over-year basis. For the full Industrial MarketBeat report, see: http://bit.ly/1y5xe02
5. Although new retail construction has occurred in different locations across the valley, the amount of new home construction in the Southwest is pulling more and more retail development and tenants into this submarket. For the full Retail MarketBeat report, see: http://bit.ly/1tdPZKr
For access to current and historical commercial real estate market reports and research, please visit http://www.comre.com/research
About Cushman & Wakefield | Commerce
Cushman & Wakefield | Commerce, headquartered in Salt Lake City, Utah, is an independently owned and operated member of the Cushman & Wakefield Alliance with offices throughout Utah, Nevada, Washington and Idaho. The firm partners with its sister company Cushman & Wakefield | NorthMarq to provide innovative commercial real estate solutions to occupier and investor clients, offering transaction services, capital markets services, occupier and investor services, and real estate advisory. Together the firms manage more than 52 million sq. ft. of retail, industrial, and office assets, have annual revenues of more than $100 million, and employ more than 750 professionals. Learn more at www.comre.com; www.cushwakenm.com. C&W | Commerce and C&W | NorthMarq are part of the Cushman & Wakefield platform, which is the world’s largest privately-held commercial real estate services firm with 250 offices in 60 countries globally. www.cushmanwakefield.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 250 offices in 60 countries, employing more than 16,000 professionals. 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. A recognized leader in local and global real estate research, the firm publishes its market information and studies online at www.cushmanwakefield.com/knowledge.