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Signs of a Strong Economy
Commerce CRG has released its year-end numbers
for the office and industrial markets in Salt Lake County, showing
solid demand for office and industrial space. Spokesperson Jeri
Cartwright said office vacancies in Salt Lake City dropped
by 8%, from a 19.3% vacancy rate to 11.3%, during 2005, while the
industrial market in the county is seeing construction growth for
the first time since 2002.
In Salt Lake City, seven new office buildings (720,000 square feet)
are under construction and six additional buildings could be
started and completed in 2006 (for a total of 1.2 million square
feet of new office space). Net 2005 office space absorption in Salt
Lake City matched a record set in 2000 and exceeded the last three
years combined.
In Salt Lake County, large scale speculative industrial construction
returned to the marketplace in 2005, along with a surge in industrial
land sales. Lease rates are also on the road to recovery and
developers are pursuing significant big box projects for the first
time in four years. The market is so active that an occupancy decline
into the six percent range by mid-2006 is not unrealistic, said
Cartwright.
Blog Watch
At the Senate Site blog, Sen. Chris
Buttars posts
the full text of his evolution bill (see also
here)...
Utahnia says every Utah tamarisk plant deserves
to die... David Fletcher links
to several IT bills of interest for the upcoming Utah
legislative session... Charley Foster analyzes
speech given by Sen. Orrin Hatch at
last month's ABA conference on the Class Action Fairness Act
of 2005... Nuclear is Our Future corrects
some misconceptions about the status of Private Fuel
Storage.
Mayor Hosts Midday Metro
S.L. Mayor Rocky Anderson
is slated
to host KCPW's Midday Metro radio program on Friday,
Dec. 30. He'll be taking calls. The number is 355-TALK (8255).
Now You Know
The city of Escalante is
located in Potato Valley on the upper reaches of the Escalante River.
The town was first named Potato of Sup Valley for the edible wild
potatoes that grew in the area. The name was changed to Escalante
by Almon Thompson to honor the famous Spanish explorer who passed
this area far to the west.
(Source:
Local Government Directory, Utah League of Cities & Towns)
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