Utah
Apartments
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Utah
Apartments
The
apartment vacancy rate in Salt Lake County at 2004 year-end
was 5.7 percent, down from 8.6 percent at year-end in 2003.
Job growth in 2004 helped propel modest growth in rentals
during the last year.[ more
.. ]
Utah
Housing Market
Residential
construction led the way with a record $3.6 billion in new
construction. The number of permits issued for homes, condominiums,
manufactured homes, cabins and apartment units exceeded 24,000,
also a record. New single-family homes totaled 17,724, which
broke the long-standing record of 17,424, set way back in
1977. [ more
.. ]
Utah
Commercial Real Estate
The
record pace set at the mid-year mark continued through the
year to push sales volumes to new historic levels. Total dollar
value as well as the total number of transactions exceeded
those set in 2003. Nearly $680 million in commercial sales
have closed, an increase of 10.6 percent over 2003.
[ more
.. ]
Utah
Office Real Estate
According
to the Year End 2004 Market Review of Commerce CRG, Cushman
& Wakefield Alliance, the Salt Lake office market showed
solid signs of recovery during 2004. Building on a turnaround
that began in the latter part of 2003, the market gained momentum
and continued to improve. Overall, market vacancy declined
1.5 percent and the 771,000 square feet of absorbed office
space easily surpassed the 492,000 square feet posted in 2003.
[ more
.. ]
Utah
Retail Real Estate
Private,
Utah-based retail developers have reappeared in the market
with new projects.
In the recent past, owner/user development was the driving
force behind many of the new projects; however, local developers
have become more aggressive in controlling development property
and driving new development. [
more
.. ]
Utah
Industrial Building
Industrial
vacancy declined from 10.50 percent to 8.49 percent over the
course of 2004, fueled primarily by the expansions undertaken
by local and regional tenants who already have a presence
in the marketplace. The overall industrial market activity
has achieved the highest levels seen in this decade. Lease
and sales activity in 2004 resulted in a 10.3 percent rise
in the number of completed transactions. [
more
.. ]
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