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The Salt Lake City Office market ended the second quarter 2018 with a vacancy rate of 7.8%. The vacancy rate was down over the previous quarter, with net absorption totaling positive 686,588 square feet in the second quarter. Vacant sublease space increased in the quarter, ending the quarter at 588,574 square feet. Rental rates ended the second quarter at $21.15, an increase over the previous quarter. A total of eight buildings delivered to the market in the quarter totaling 634,424 square feet, with 3,365,007 square feet still under construction at the end of the quarter.     

     

QUARTER:  second 2018
NET ABSORPTION:  686,588 SF
VACANCY RATE:  7.8%
AVERAGE RENTAL RATES:  $21.15/SF

 The Salt Lake City retail market did not experience much change in market conditions in the second quarter 2018. The vacancy rate went from 5.0% in the previous quarter to 4.9% in the current quarter. Net absorption was positive 802,990 square feet, and vacant sublease space increased by 20,242 square feet. Quoted rental rates increased from first quarter 2018 levels, ending at $15.24 per square foot per year. A total of 18 retail buildings with 648,564 square feet of retail space were delivered to the market in the quarter, with 818,726 square feet still under construction at the end of the quarter.     

 

QUARTER:  second 2018
NET ABSORPTION:  802,990 sf
VACANCY RATE:  4.9%
AVERAGE RENTAL RATES:  $15.24/SF

The Salt Lake City Industrial market ended the second quarter 2018 with a vacancy rate of 3.9%. The vacancy rate was up over the previous quarter, with net absorption totaling positive 1,282,643 square feet in the second quarter. Vacant sublease space increased in the quarter, ending the quarter at 609,264 square feet. Rental rates ended the second quarter at $6.14, a decrease over the previous quarter. A total of 13 buildings delivered to the market in the quarter totaling 1,927,013 square feet, with 4,646,744 square feet still under construction at the end of the quarter.     

 

QUARTER:  second 2018
NET ABSORPTION:  1,282,643 SF
VACANCY RATE:  3.9%
AVERAGE RENTAL RATES:  $6.14/SF