The Salt Lake City office of commercial real estate firm CBRE has released its annual Salt Lake City Real Estate Market Outlook report. The company expects 2017 to be a continuation of a strong 2016 market. The publication highlights the performance of the local commercial real estate market during 2016 and provides insights into expectations for the year to come.
Mark Bouchard, senior managing director at CBRE said, “All service lines (in 2016) saw strong levels of user activity and absorption levels remained positive throughout the year. Though vacancy increased slightly in the office and retail sectors — mainly due to high levels of construction completions — the strong demand and elevated levels of development experienced in 2016 are expected to continue into the new year.”
Some of the key findings highlighted in the report include: