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United States | Salt Lake City, UT

Report | Salt Lake City Office Insight - Q3 2016

Summary

Salt Lake City's office market continues to show its strength with a total vacancy rate at 7.3 percent, average asking rates that are up more than 10 percent over the last 12 months and yearly absorption rates on pace to be their highest since 2007.

Developers are taking advantage of strong tenant demand, delivering 2.2 million square feet of new product so far this year (as of Q3). Another 1.1 million square feet is set for delivery by the end of 2016. That means this year will triple the delivered square feet of either 2014 or 2015.​

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