May 15, 2014

Cover Story

CEO of the Year

Utah’s business landscape is rich with professionals who have le...Read More

Featured Articles

Did you go Skiing this winter?

Around Utah


Martin Plaehn

Karen Sendelback

Legal Briefs
Social Media and Employers: Friends or Enemies?

Money Talk
The Case for HSAs

Economic Insight
Time to Show Up

Lessons Learned
Make a Move

In the Lab

Rent to Own

Business Trends
Back from the Dead

Executive Living
Artful Inspiration

A Breath of Fresh Air

Worst-Case Scenario

Regional Report
Northern Utah

Measure Up

Industry Outlook
Travel & Tourism



Commercial Real Estate Report Shows Strong 2014 Likely

Press Release

May 15, 2014

Salt lake City – Cushman & Wakefield | Commerce 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.

 “The reports show that some indicators cooled off slightly in the first quarter,” said Michael Lawson, president of Cushman & Wakefield | Commerce. “However, market fundamentals are continuing to strengthen and 2014 performance is expected to be on par with the record-breaking 2013.”

 The following are report highlights from the Cushman & Wakefield | Commerce reports, which can be accessed (along with historical reports) at">

Office Snapshot

The office market slowed slightly through the first quarter of 2014 as direct vacancy rates ticked up slightly by 0.2 percentage points from the end of 2013. Despite this slight increase, the direct vacancy rate of 12 percent was still 1.9 percentage points lower on a year-over-year basis. Lease rates were up, with a 2.3 percent increase. The outlook for the office market is bullish with about 350,000 square feet of new or renovated space coming online in Salt Lake City during the second quarter of 2014. As such, vacancy rates within the CBD are expected to tick up by around 2.0 percentage points in the next quarter.

Industrial Snapshot

The overall industrial vacancy rate decreased by 0.7 percentage points on a year-over-year basis to end the quarter at 7.5 percent. Despite this decrease, both leasing and sales activity were down through the first quarter; however, optimism remains fairly strong because several projects were simply pushed into the second quarter.

Investment Snapshot

The investment market saw the highest price point sale in the history of the state with 222 Main, a class AA office tower. The high sales volume by number of transactions and total investment value are continuing to rise, which demonstrates an ongoing strong demand for investment product in Utah.

Retail Snapshot

Vacancy rates continued to improve with a drop of 2 percentage points on a year-over-year basis to end the first quarter at 7.1 percent. New construction is expected to keep overall vacancy rates in check and expansion by existing retailers in the market, as well as new entrants, is expected to continue as Utah gains national recognition for its vibrant economy.


Utah Business Social
UB Events View All
Content Marketing BootcampUtah Business Event
Oct 28, 2014
Please join Utah Business Magazine and Adobe, along with our other sponsors: Boostability, Right ...
Sustainable Business Awards 2014Utah Business Event
Nov 13, 2014
Utah Business magazine along with presenting sponsor Big D Construction, is pleased to announce t...
Best Companies to Work For 2014Utah Business Event
Dec 11, 2014
Utah Business magazine along with our sponsors Diversified Insurance and Miller Motor Sports Park...
Community Events View All
St. George Book Festival - The Writer's Journey: One-Day Workshop
Oct 24, 2014
Come enjoy this one-day conference designed to give authors and aspiring authors the opportunity ...
Sandler Management Solutions
Oct 24, 2014
Who Should Attend? If you are an owner or manager, you know that your job is one of the most d...  |  90 South 400 West, Ste 650 Salt Lake City, Utah 84101   |  (801) 568-0114

Advertise with Utah Business

Submit an Event

* indicates required information
* Event Name:
Price (general):
Website (if applicable):
Coordinator's Name:
Coordinator's Email:
Coordinator's Phone:
Venue Name:
Venue Address:
Venue City:
Venue Zip:
Event Capacity:
* Event Description: