Commercial offerings.

• Position: Work: COMMERCIAL REAL ESTATE

Over the last several years, Utah has outperformed a sluggish national economy. Consequently, the state's commercial real estate market has maintained above-average performance in most areas. Looking ahead, Utah's stable, business-friendly environment will attract new companies and foster the expansion of those businesses already in Utah.

Utah Receives "A" Grade in Government Technology Survey--CENTER FOR DIGITAL GOVERNMENT

Utah No. 2 in Business Facilities / Climate--business facilities magazine, 2014

Utah Ranks High "2013 Manufacturing and Logistics National Report"--CONEXUS, JUNE 2013

office positive demands

While job creation remains positive as the year continues to unfold, office-using sectors trending toward efficiency will continue to influence office markets. Healthy demand for office space is allowing the Salt Lake market's office vacancy rate to fall. Limited amounts of space were completed during 2014, which allow vacancy to decline further. However, declines will slow as new office space is completed in 2015.

Overall, Salt Lake City's office market is expected to remain healthy with particular strength in Sandy and Draper due to the area's strategic location and growth in the tech sector.

retail healthy growth

Salt Lake's retail market is influenced by a range of factors, from employment and wage growth to housing and sentiment. Overall, the commercial real estate demand is healthy.

Currently, high-quality space with good accessibility is in high demand by retailers to ensure their focus on a quality shopping experience. This trend is expected to continue and developers are moving to meet the needs of the market demand.

Completed retail construction during the first three quarters of 2014 surpassed the total for all 2013 and is expected to continue rising through year-end. Current commercial projections indicating healthy growth will continue during the coming year. Such being the case, retailers will continue to find opportunity in Utah.

industrial strong development

Salt Lake's strategic regional location continues to support strong levels of demand for warehousing and distribution space. The rise of e-commerce, driven by advances in technology, has further enhanced this demand.

Professionals are noting an increase in activity from manufacturers, which is significant due to the fact that it represents a greater concentration of jobs created relative to warehousing or distribution centers. Additionally, such facilities often...