Salt Lake Industrial Market Outperforms National Counterparts

NAI West recently released its 2012 midyear report, evaluating data from across the state. By detailing the ups and downs of the Utah commercial market, the report provides pertinent information regarding vacancy rates, absorption and other market indicators.

In 2012, several key components continue to impact the commercial real estate market in the state, such as:

• Forbes Magazine again ranked Utah the #1 Best State for Business and Careers, CNBC ranked Utah #2 For the Best State for Doing Business in 2012, Forbes magazine listed Provo and Ogden as the #1 and #6 Best Cities for Business and Salt Lake City ranked among America’s 15 Hottest American Cities of the Future according to Business Insider.
• Utah is ranked in the top third in the nation for the lowest unemployment rate at 6.0% (down from last summer’s 7.3%) compared to a national average of 8.2%.
• As a whole, Utah’s economy continues to outperform and maintains its status as one of the most sound economies in the nation.
• Utah remains high on the list of firms looking to relocate or expand. The number of firms looking at moving to the state continues to be steady, if not increasing.

To view the complete 2012 Midyear Report, which provides an in-depth analysis of specific real estate trends in Utah, visit NAIWEST.com here.   Utah Policy