The office vacancy rate in the Salt Lake City market area decreased to 6.8% at the end of the third quarter 2011. The vacancy rate was 7.2% at the end of the second quarter 2011, 7.6% at the end of the first quarter 2011, and 8.0% at the end of the fourth quarter 2010.
Class A projects reported a vacancy rate of 7.5% at the end of the third quarter 2011, 8.0% at the end of the second quarter 2011, 9.1% at the end of the first quarter 2011, and 9.4% at the end of the fourth quarter 2010.
Class B projects reported a vacancy rate of 6.6% at the end of the third quarter 2011, 7.0% at the end of the second quarter 2011, 7.2% at the end of the first quarter 2011, and 7.6% at the end of the fourth quarter 2010.
Class C projects reported a vacancy rate of 6.8% at the end of the third quarter 2011, 7.1% at the end of second quarter 2011, 7.1% at the end of the first quarter 2011, and 7.3% at the end of the fourth quarter 2010.
The overall vacancy rate in Salt Lake City's central business district at the end of the third quarter 2011 decreased to 8.8%. The vacancy rate was 9.5% at the end of the second quarter 2011, 11.3% at the end of the first quarter 2011, and 11.2% at the end of the fourth quarter 2010.
The vacancy rate in the suburban markets decreased to 6.6% in the third quarter 2011. The vacancy rate was 7.0% at the end of the second quarter 2011, 7.2% at the end of the first quarter 2011, and 7.6% at the end of the fourth quarter 2010.
The information in this news report is based on information that appears in CoStar’s Third Quarter 2011 Office Market Report available to CoStar subscribers. To learn more about quarterly Office Market Reports and other benefits available to CoStar subscribers, please call 1-877-694-2177.