Over the last 10 years, Utah’s commercial real estate has experienced above-average growth, experts say. Those same experts cite our perch atop Forbes’ list of the best states in which to do business, as well as a number of economic indicators when they predict that Utah commercial real estate growth will continue for at least the next few years.
Our state’s diverse, vibrant economy and educated, hard-working populace deserve all the credit, says the chairman of CBC Advisors.
The demand for commercial and industrial real estate is fueling a construction boom here. Even better, growth in the construction industry is expected to exceed an annual two percent clip through 2022.
The president of the Associated General Contractors of Utah recently told a TV station that people can get construction jobs in five minutes and that some companies are once again paying bonuses of $5,000 to $10,000 to fill particular skilled positions.
He said he hasn’t seen those kinds of hiring bonuses since the mid-2000s.
“Watch Utah continue to garner attention and activity from both national and international investors as well,” the CBC chairman said.
For entrepreneurs interested in expansion of current businesses or in launching new ventures, these are exciting times. Of course, just as in hard or slow times, a steady hand is required to navigate the myriad details of complex real estate transactions, leases and contracts. The largest locally owned law firm can assist you in a wide array of commercial and residential real estate developments.
Please take a look at our Real Estate Transactions and Development page to see how Snow Jensen & Reece, P.C. can assist you.