The Northwood Group

Building Partner Investors

NAI West Mid-Year Market Report

July 31

NAI West recently completed its Mid-Year Market report detailing the state of the economy in Utah, and more specifically the state of Utah property investment.  A few of the highlights are below:

A few of the highlights of the market report are as follows:

  • Utah has the 3rd lowest unemployment rate in the US at 6%.
  • Just under $1 MM square feet of industrial spec space has been completed and most of it has been absorbed.
  • Overall office vacancy is down to 13.98% with Class A office space at 9.43%.
  • Positive retail absorption for the 3rd straight quarter.
  • Property investment market remains strong with volumes very similar to the first half of 2011.