Economy: The State of Utah led the nation for annual job growth in 2019 at 3.3%—more than double the national average.
Capital Markets: The Salt Lake marketplace yielded over $2.4 million in investment sales volume in 2019— nearly half of which was attributed to the multifamily market.
Office: Demand for office space remained strong in 2019, as evidenced by the record levels of construction underway with over 60% preleased.
Industrial & Logistics: Overall demand for industrial product continued to increase, driven by diverse user types and a strong local economy.
Retail: Fitness and food were the most active retailers, bringing in new-to-market tenants and accounting for 39% of total leasing activity in 2019.
Multifamily: The Greater Salt Lake area’s robust multifamily development is well matched to the continued demand.