We are grateful for Bonneville Builders regularly supplying us with updates on construction costs in the commercial real estate Utah market. As the commercial real estate investment market continues to heat-up prices tend to inflate as they relate to the underlying construction costs. These estimates provide a good basis for comparison. The link to the report is below.
A few items on the report that I found interesting and noteworthy:
Hopefully this information is helpful. Please feel free to reach out to Bonneville Builders direction for questions on the data provided. They can be reached at 801-263-1406 or JohnT@bonnevillebuilders.com (www.bonnevillebuilders.com)
At the end of every year as a commercial real estate investment broker you take some time to review the previous year and make certain observations. You also look at previous years to see if there are any notable trends compared to other times. All of us want a crystal ball and everybody has an opinion regarding what is happening in the market. I will provide my own thoughts in the coming weeks but I recently received a video from Bryce Blanchard, one of my friends and colleagues in the commercial real estate world. I found his presentation very insightful and entertaining. I thought you might enjoy it. The link to his video is below.
In recent months I have included a couple of updates on the residential real estate market. I do so because although the residential and commercial markets are different, they are correlated and driven by many of the same factors.
Matt Green, Regional Director of Keller Williams Utah produces some very propriety and interesting breakdowns of the Utah market. I have included an attachment to his assessment of the SLC market. Breakdowns of Park City and of the Davis, Weber & Utah County markets are available upon request.
A couple of the highlights of the report include:
Please let me know if you have additional questions.
The Utah Chapter of NAIOP recently held its 2014 Year End Commercial Real Estate Symposium titled “Destination Utah”. The event provided a fantastic overview of the Utah Commercial Real Estate Market. Overall, the commercial real estate market in Utah is very strong boasting low vacancy rates, increasing lease rates and a robust commercial real estate investment market that is still providing opportunities for private and institutional investors alike.
There were several take-away’s for me that I found very interesting and telling:
As you can see the market is very strong with a bright 2015 forecast limited primarly by supply of good commercial real estate investment product.
Following are a few other market statistics that are worth highlighting:
Although difficult to find there are still opportunities to invest in commercial real estate in Utah. Those already invested here are positioned well and may have more value than they may have realized.
Please contact me at firstname.lastname@example.org for additional detailed market information or to discuss any commercial real estate needs that you may have.
Investors in Utah, we are pleased to present the 2013 Newmark Grubb Acres Year End Market Report. A few highlights from the investment market include:
Please click the link above for the full report.
The 3rd quarter real estate investment saw a mixed bag of increases and decreases. Learn more about the status of the industry.
We are pleased to present the 2013 Newmark Grubb Acres Mid-Year Real Estate Market Report. From the beginning, 2013 was off to a strong start, especially in the commercial real estate investments sector. For example:
As always, I welcome your thoughts.
Following a link for the commercial real estate Capital Market Review for December 17, 2012:
In terms of interest since our last post there has been a slight decline in rates with office rates dropping below 5%. December has been the busiest month for CMBS issuance in 5 years which is a good sign for the capital markets.