Rents/Leases

↑ Apartment:

• Asking: $754 per unit
• Effective: $715 per unit

↑ Office:

• Asking: $18.51 per square foot
• Effective: $15.29 per square foot

↑ Retail:

• Asking: $16.52 per square foot
• Effective: $14.48 per square foot

↑ Industrial: $0.39 per square foot

Vacancy

↑ Apartment: 5 percent

↑ Office: 11.9 percent

↑ Retail: 10.9 percent

↑ Industrial: 5.4 percent

Absorption

↓ Apartment: 433 units

↓ Net office: -293,000 square feet

↓ Net retail: -191,000 square feet

↓ Net industrial: 1.69 million square feet

Under Construction

↑ Apartment: 264 units

↓ Office: 205,000 square feet

↓ Retail: 55,000 square feet

↑ Industrial: 2.55 million square feet

Résumé

• Largest employers (Salt Lake County): Intermountain Health Care, Wal-Mart, Delta Air Lines, Discover Financial Services, Zions Bank Management Services

Sources: Airports Council International, CB Richard Ellis, The Church of Jesus Christ of Latter-day Saints, Deseret News, Forbes magazine, Library Journal, The New York Times, Next American City, Reis Inc., Salt Lake Chamber of Commerce, The Salt Lake Tribune, Taubman, U.S. Census Bureau, U.S. Department of Labor, Utah Department of Workforce Services, UtahPulse.com, Utah Stories

Darrick Meneken is an associate editor at Scotsman Guide. Reach him at (800) 297-6061 or darrick@scotsmanguide.com.

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