SALT LAKE CITY, UT--(Marketwire - Oct 2, 2012) - Commerce Real Estate Solutions, an independently owned and operated member of the Cushman & Wakefield Alliance (www.comre.com), released its 3rd quarter, 2012 office Market Beat Report for Salt Lake City.
"Utah remains at the forefront of the economic recovery with an unemployment rate of 5.8 percent and in the past year, the state has had a net increase of 24,300 jobs," said Dana Baird, Senior Director of Cushman & Wakefield | Commerce. "About 9,500 of those jobs were within the financial, professional and business services sectors. As such, the third quarter saw an increase in the absorption rates as well as a slight dip in the office vacancy rate."
Salt Lake City Metro Office: Job gains bolster office market and reverse negative absorption trend
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Vacancy:
Lease Rates:
New Construction
About Commerce Real Estate Solutions
Commerce Real Estate Solutions, an independently owned and operated member of the Cushman & Wakefield Alliance, has been the leading provider of real estate brokerage services for more than 30 years. Headquartered in Salt Lake City, Commerce Real Estate Solutions has offices throughout Utah, Nevada, Idaho and Washington. Commerce Real Estate Solutions offers consulting, brokerage, tenant and landlord representation, property and facilities management, and valuation services to corporations, institutions and investors throughout the Intermountain West and Pacific Northwest. For more information, and for property listings, broker information, market category reports and more visit www.comre.com.
About Cushman & Wakefield
Cushman & Wakefield is the world's largest privately‐held commercial real estate services firm. The company advises and represents clients on all aspects of property occupancy and investment, and has established a preeminent position in the world's major markets, as evidenced by its frequent involvement in many of the most significant property leases, sales and assignments. Founded in 1917 it has 243 offices in 60 countries and more than 14,000 employees. It offers a complete range of services for all property types, including leasing, sales and acquisitions, equity, debt and structured finance, corporate finance and investment banking, corporate services, property management, facilities management, project management, consulting and appraisal. The firm has more than $4 billion in assets under management through its wholly‐owned subsidiary Cushman & Wakefield Investors. A recognized leader in local and global real estate research, the firm publishes its market information and studies online at www.cushmanwakefield.com/knowledge.
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