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The Salt Lake City Office market ended the fourth quarter 2018 with a vacancy rate of 6.4%. The vacancy rate was down over the previous quarter, with net absorption totaling positive 1,408,541 square feet in the fourth quarter. Vacant sublease space decreased in the quarter, ending the quarter at 446,534 square feet. Rental rates ended the fourth quarter at $21.61, an increase over the previous quarter. A total of nine buildings delivered to the market in the quarter totaling 382,578 square feet, with 3,809,666 square feet still under construction at the end of the quarter.    

QUARTER:  Fourth 2018
NET ABSORPTION:  1,408,541 SF
VACANCY RATE:  6.4%
AVERAGE RENTAL RATES:  $21.61/SF

The Salt Lake City Industrial market ended the fourth quarter 2018 with a vacancy rate of 4.1%. The vacancy rate was up over the previous quarter, with net absorption totaling negative 794,835 square feet in the fourth quarter. Vacant sublease space increased in the quarter, ending the quarter at 951,524 square feet. Rental rates ended the fourth quarter at $6.21, an increase over the previous quarter. A total of 11 buildings delivered to the market in the quarter totaling 903,487 square feet, with 6,632,357 square feet still under construction at the end of the quarter.    

 

QUARTER:  FOURTH 2018
NET ABSORPTION:  (794,835) SF
VACANCY RATE:  4.1%
AVERAGE RENTAL RATES:  $6.21/SF

 The Salt Lake City retail market experienced a slight improvement in market conditions in the fourth quarter 2018. The vacancy rate went from 4.6% in the previous quarter to 4.2% in the current quarter. Net absorption was positive 754,035 square feet, and vacant sublease space decreased by 226,314 square feet. Quoted rental rates increased from third quarter 2018 levels, ending at $16.68 per square foot per year. A total of 18 retail buildings with 133,905 square feet of retail space were delivered to the market in the quarter, with 504,227 square feet still under construction at the end of the quarter.   

 

QUARTER:  FOURTH 2018
NET ABSORPTION:  754,035 sf
VACANCY RATE:  4.2%
AVERAGE RENTAL RATES:  $16.68/SF