Whether you’re looking to lease an office space or purchase a retail building, Utah commercial real estate can help you find the ideal property. Many cities in the state offer a variety of different commercial properties, ranging from industrial to residential. Read on to learn more about what’s available in Utah.
Salt Lake City
Known as the “Crossroads of the West,” Salt Lake City is one of the fastest growing cities in the country. Located in the Salt Lake Valley, it is flanked by mountain ranges. Thousands of people visit Salt Lake City each year.
The city’s economy is diverse, with a focus on business services, government, transportation, and trade. It is home to a number of major companies, including Overstock and Ancestry. There is also an active convention industry.
Salt Lake City’s commercial real estate market is expected to continue to see strong growth. The city’s industrial market is particularly active, and vacancy is nearly 2.0%.
The Salt Lake City industrial market is expected to grow significantly through the year, with new development deliveries expected. Overall, the market forecast calls for moderate rent growth. This is likely to be supported by continued focus on existing space.
Park City
Whether you’re looking for a new home in Park City, Utah or are interested in commercial properties in Park City, Utah, you’ll find a variety of commercial real estate listings that suit your needs.
The Park City, Utah commercial real estate market has seen a renaissance. Many newer developments have been built to meet the needs of buyers and provide an array of options.
While Park City, Utah is known for its mountain views and high elevation, there are many benefits to living in this community. Modern transit systems make it easy for residents to get around. It is also home to a variety of restaurants and shops, including KFC, Subway, Wendy’s, and Cracker Barrel.
While there are plenty of great Park City, Utah commercial real estate listings available for sale or lease, there are also plenty of properties that aren’t listed on the market. You can use our easy-to-use search tools to find commercial real estate spaces in your area or even in a nearby city.
St. George
Whether you’re looking for a space for a business or for a retail store, St. George, Utah, has plenty of options. The county is home to numerous businesses, including retail, healthcare, and manufacturing. There are also lots of attractions and entertainment venues.
There are several types of commercial real estate in the county, from vacant lots to buildings for sale. The county is home to several large projects in the works. These include an expansion of the Quail Creek industrial area.
The Utah County market offers a variety of commercial real estate for sale, rent, or lease. Whether you’re looking for a small office space or a larger warehouse, you can find something that fits your budget.
The area is home to a variety of businesses and industries, including healthcare, manufacturing, retail, and technology. The county is also home to a growing population. The median household income in the county is $62,178, compared to the national average of $54,603.
The county has a diverse population. About 20 percent of the county’s residents are high school graduates, while another 19 percent have some college or post-graduate degrees.
Industrial
Regardless of whether you’re in the market for a new industrial property or an existing one, there are several factors that you need to know to maximize your investment. Some assets are better suited for capital preservation, while others can be transformed into high value assets with simple upgrades.
Industrial real estate in Utah is growing for several reasons. The State’s reputation for excellence has led to an increased number of businesses locating their operations here. Another reason is the low unemployment rate. Utah’s unemployment rate is 2.7%, compared to the national average of nearly 6%. This has also helped Utah become an attractive location for employees.
There are several types of industrial properties, including warehouses, distribution facilities, manufacturing facilities, and storage facilities. These properties can be found in a variety of locations, and zoning maps can help you find them.
Hospitality
During COVID-19, interest in Utah’s commercial real estate market soared. As a result, office sales were on the rise. However, the hospitality sub-sector suffered. This was especially true for economy hotels, which are hard hit during recessions.
The key drivers for the hospitality sector are tourism and business travelers. These travelers are looking for a variety of hotel types, from economy to luxury hotels. When the economy is strong, there will be high occupancy rates for luxury hotels. However, during the recession, business travelers might choose to stay at economy hotels, which may result in lower revenues.
As a member of the Air Force Real Property Agency, Robert Moore oversees the agency’s selection process for Utah-based commercial real estate developers. Moore has also worked for nine years in Las Vegas. After moving back to Utah in 2010, he became Director of Industrial division for Cushman & Wakefield.
