• The Salt Lake City-Provo office market absorbed 505,125 sq. ft. on net in Q4 2019, which is predominantly attributed to activity in Draper and Utah County North. 
  • Abundance of incoming supply (over 3.6 million sq. ft.) reaffirms that there is still strong confidence in the Salt Lake City-Provo marketplace. Tech and financial services firms are the driving forces. 
  • Vacancy increased 50 basis points year-over-year from 10.3% to 10.8%.
  • Asking rates have decreased year-over-year from $23.89 per sq. ft. FSG in Q4 2018 to $23.79 per sq. ft. FSG in Q4 2019.