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THIS IS MICHAEL DE GROOTE FOR LANE BEATTIE, PRESIDENT OF THE SALT LAKE CHAMBER, WITH YOUR METRO BUSINESS REPORT
Colliers Commerce CRG, a real estate brokerage service, reports that 2003 was a record-breaking year with overall transactions up by 20 percent and sales volume up by 33 percent. Retail investment sales increased by 85 percent, office building sales by 56 percent, and industrial building sales were up 42 percent over 2002. Apartment sales outdid all categories in dollar volume. Colliers also reports that, if you take shopping malls out of the equation, that retail vacancy actually went down by almost a full percentage point over 2002, making 2003 the best year in a long time. Office vacancy rates went down by 1.4 percent. The exodus of tenants from the central business district has reversed, and an additional 20,000 square feet of space was leased in 2003.
Show your support for Utah’s Guardsmen and Reservists at the Salt Lake Military Salute coming up on Saturday, February 7th. The keynote speaker will be Lieutenant General Hal Moore, who was played by Mel Gibson in the blockbuster movie “We Were Soldiers.” To register, call the Chamber at 328-5050, or see us on the web at saltlakechamber.org.
THIS IS MICHAEL DE GROOTE FOR KSL NEWSRADIO 1160.