TAKEAWAYS
- Salt Lake City’s overall asking rent reached a five-year high of $24.06 per square foot full-service gross. Class A rents are projected to increase as tenants continue to seek top-tier space in a steadily recovering market
- Leasing appears to have stabilized over the past two quarters and should continue this trend this year as the local economy rebounds
- Salt Lake City’s well-educated workforce and lower cost of living will continue to attract tenants seeking to mitigate costs as they reassess their real estate needs