• Salt Lake finishes year with 5.3 million sq. ft. in new leasing, as large users remain active.
  • New leasing and new deliveries boost annual net absorption to record total of 4,185,152 sq. ft.
  • Overall activity results in record development and increased volume of active developers.
  • Overall average achieved lease rates increase 14% year-over-year, with limited availability and new construction.
  • Confidence for current outlook remains high due to strong demand and fundamentals.