Outlook for Utah’s Commercial Real Estate Market Strong
The outlook for Utah’s commercial real estate remains strong with The Salt Lake Tribune reporting a $1.3 billion investment in Utah’s commercial real estate market in 2013. Out-of-state buyers account for nearly two thirds of Utah’s commercial deals greater than $10 million in value. According to the Tribune, the growth in Utah’s commercial real estate market indicates a return to cash flow levels not seen since the 2008-2009 economic down turn.
Analysts predict continued growth for 2014 in the commercial real estate market with new efficient industrial buildings and officer towers in high demand. E-commerce also continues to be a main driving force positively impacting the commercial segment as the demand for back-end warehouses and industrial buildings continues to grow to support the growth of online shopping.
Utah’s accessibility and central location, the abundance of recreational activities, the educated workforce and continued job growth are further factors influencing the increase investment levels in the state.
Source: The Salt Lake Tribune