Overall, Utah’s commercial real estate market had a positive 2012. Throughout the year markets statewide fluctuated with the economy and presented significant opportunities for owners, investors and users of commercial real estate. The positive momentum experienced throughout 2012 has made commercial property owners and brokers excited and optimistic for 2013.
A prevailing sentiment throughout the market is that owners and users of property feel more secure and less hesitant to make real estate moves. Continued low interest rates have made new construction or purchases more feasible for owners and investors, while lease rates remain reasonable for tenants.
Some of the common trends throughout the industry are:
–Utah’s economy is strong and has created an ideal environment for buyers, sellers, and tenants in all areas.
–Class A space has experienced the strongest demand increase in all areas.
–All segments of commercial real estate will see continued growth through 2013.
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