Salt Lake City Industrial Q2: Leasing Increases, Jumping Rents

Q2 2019 figures for Salt Lake City’s industrial sector showed an increase in leasing activity, low vacancies and a jump in rents. JLL’s Industrial Insight report commented that national tenants are moving into “large volumes of space,” while CBRE’s Industrial & Logistics Marketview pointed to “healthy levels of user activity and record development.”

Both reports credited the booming Utah economy as the driver for continued industrial space demand, with CBRE saying, in its outlook, that a combination of strong leasing and a pipeline of large users will continue maintaining a market balance for the near- and mid-term. Meanwhile, JLL called for continued, steady positive absorption through 2019, with leasing activity also expected to remain steady.