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Construction, Economy has Office Lease Prices on the Rise

Construction, Economy has Office Lease Prices on the Rise



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SALT LAKE CITY (AP) -- Office space in downtown Salt Lake City is at a premium.

The state's booming economy and the redevelopment project at the downtown malls has businesses having to spend more money for less space.

According to a report released yesterday, Salt Lake County would need to build 1 million square feet of office space every year to keep up with current demand.

The report shows that low vacancy rates are expected to remain throughout the year.

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Information from: Deseret Morning News

(Copyright 2007 by The Associated Press. All Rights Reserved.)

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