NEWMARK GRUBB ACRES OFFICE SNAPSHOT...0 400,000 800,000 1,200,000 1,600,000 2,000,000 2,400,000 2013...
Transcript of NEWMARK GRUBB ACRES OFFICE SNAPSHOT...0 400,000 800,000 1,200,000 1,600,000 2,000,000 2,400,000 2013...
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400,000
800,000
1,200,000
1,600,000
2,000,000
2,400,000
2013 2014 2015 2016 2017 2018 Q12019
OVERVIEW BY CLASS
NOTABLE TRANSACTIONS - Q1 2019PROPERTY NAME BUYER/TENANT SF TRANSACTION
TYPE CITY CLASS
Sandy Center Plaza DeeprootTechnologies 58,689 Lease Sandy A
Vista Station 1 Shape Security 13,854 Sublease Draper A
Sandy Center Plaza Suncrest HealthServices 12,694 Lease Sandy A
Lindon Tech 5 Schuff Steel, LLC 11,649 Lease Lindon A
Grove Tower Dental Intel 10,614 Lease PleasantGrove A
NET ABSORPTION (SF)
DIRECT VACANCY RATES ACHIEVED ACTUAL LEASE RATES (FS)
0.00%
2.00%
4.00%
6.00%
8.00%
10.00%
2013 2014 2015 2016 2017 2018 Q12019
Class A Class B
$10.00
$14.00
$18.00
$22.00
$26.00
$30.00
2013 2014 2015 2016 2017 2018 Q12019
Class A Class B
BUILDINGS DELIVERED IN Q1 2019
Q1 2019
CLASS DIRECT VACANCYRATES
ACTUAL LEASERATES PSF
LEASED SF
NET ABSORPTION
(SF)
A 3.14% $28.77 195,591 467,752
B 3.80% $21.03 14,183 32,903
* All average lease rates are square foot weighted averages and are grossed up to a full service yearly PSF equivalent. All lease transaction data includes renewals.
PROPERTY PROPERTY NAME CLASS BUILDING SF
North Slope One A 151,370
Thanksgiving Station3 A 120,000
Urban Grove A 110,614
106 Exchange B 42,700
*All average lease rates are square foot weighted averages and are grossed up to a full service yearly PSF equivalent. All lease transaction data includes renewals.
NEWMARK GRUBB ACRESOFFICE SNAPSHOT Q1 2019TECH CORRIDOR, UTAH
Q1 2018Direct Vacancy Rate
7.00%Average Lease Rate PSF
$23.83Net Absorption SF
297,927
Q1 2019Direct Vacancy Rate
3.23%Average Lease Rate PSF
$27.20Net Absorption SF
500,655
Q1 2019 VS Q1 2018COMPARISON NET
ABSORPTIONDIRECT
VACANCYRATE
# OF LEASE TRANSACTIONS
LEASED SF
AVERAGE LEASE
RATE PSF
DELIVEREDSF
UNDER CONSTRUCTION
SF
801.578.5555www.ngacres.com
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801.578.5555www.ngacres.com
NEWMARK GRUBB ACRESOFFICE SNAPSHOT Q1 2019TECH CORRIDOR, UTAH
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