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Talented and educated millennials reside in Utah and Mountain West

•One of the primary requirements for large companies looking to expand or relocate is having access to a young, educated workforce. The Mountain West States, and specifically the three most populous counties in Utah, Denver and Ada Counties, each supply a greater percentage of millennials with at least a Bachelor’s degree than the United States as a whole. This makes them an attractive destination for companies like Adobe, Goldman’s Sachs, and e-Bay, among others that have recently expanded their footprint and spurred commercial real estate expansion.

•In the Salt Lake metro, developers are struggling to keep pace with the demand. The office market is experiencing robust demand with a 9.0 percent total vacancy and nearly 1.4 million square feet (m.s.f.) of inventory delivered in 2017. The 1.6 m.s.f. of office space under construction should provide more state-of-the-art choices and anticipated job growth will necessitate even more ground breakings in 2018.

Source: JLL Research, United States Census Bureau

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