Iron County.
Author | Parry, Travis J. |
Position | COUNTRY REPORT - TJ Maxx, Ross Dress For Less |
Business is booming in Cedar City, a southwest Utah commercial center with a diverse economy. Major expansion projects for a number of manufacturing companies and strong commercial and residential construction in 2017 have created hundreds of new jobs in this beautiful university town nestled against Cedar Mountain.
Cedar City's transportation assets, including rail, interstate highway and regional airport, place this community within easy reach of every major market in the Western United States. Los Angeles, Phoenix, Denver, Las Vegas and Salt Lake City are all less than a day's trucking away.
Cedar City is home to a young and well-educated workforce. Southern Utah University has added nearly 3,000 students to its full-time enrollment in the past three years, and Southwest Technical College offers year-round employer-driven education. Southwest Tech moved into a new $20 million facility in 2016 and continues to expand its curriculum in numerous vocational programs.
Tourism continues to be a strong draw in Cedar City as well. In 2016, The Utah Shakespeare Festival and the Southern Utah Museum of Art moved into the new $38 million Beverly Taylor Sorensen Center for the Arts. The Utah Shakespeare Festival, Utah Summer Games, the Cedar City Half Marathon, and dozens of other festivals and events offer something for everyone. The newly-completed Church of Jesus Christ of Latter-day Saints Temple will draw LDS Church members from throughout southern Utah and eastern Nevada, bringing even more people to Cedar City.
OFFICE
LEASE RATES PSF $8.60 to $15.00 NNN
VACANCY 4.10%
CAP RATE 7.0% to 8.0%
LAND VALUES PSF $6.00 to $9.00
OFFICE SUMMARY
Decorworx, an award-winning design firm that began in Cedar City 20 years ago, just...
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