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A new report indicates that Salt Lake City industrial construction reached a record level in the third quarter, while the retail market saw a turnaround following three slow quarters and a flat downtown office market contrasted with a strong suburban market.

The Q3 2017 MarketView reports, released by the Salt Lake City office of CBRE, indicates that 5.3 million square feet of industrial space was under construction at the end of the quarter, in addition to the 1.4 million square feet completed year-to-date. During the quarter, “the already decade-high amount of industrial construction activity soared to an even higher level,” CBRE said.

The high development levels are being substantially driven by large owner-users and build-to-suit projects, it said.

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