The Salt Lake office market’s headline numbers still look bleak. Phil Brierley says they’re the wrong numbers to look at.
“If you look at those numbers, they tell you pretty much nothing about the Salt Lake office market,” Brierley, who leads CBRE’s capital markets team for office and industrial sales in Utah, told a crowd at the Urban Land Institute’s Trends conference at the Hyatt Regency on Tuesday morning. “The truth is that the Salt Lake office market isn’t really about the averages.”
The average is a market-wide vacancy rate of 21.8 percent, according to CBRE’s third-quarter report for the Salt Lake City-Provo market…