A highlight from the newly released 1^st Quarter 2012 Utah County Market Report from Commerce Real Estate Solutions signals a modest improvement in vacancy across the board in all market categories from year end 2011 through Q1 2012.

Commerce also communicated a caution to developers of office space to not over build, which will cause rates to fall again. This is considering the popularity of Class A office space despite new construction bringing more to the market.

Other indicators are tepid, according to the report:

•        Retail rates are indicating they may be ready to rise but have not gathered the vacancy pressure necessary to start.

•        Industrial land values are showing they may have potential this year, but it is too soon to tell as bargain lease rates continue to sit at under $0.30.

•        Sublease activity does not show much activity. Vacancy rates remain largely unchanged.

Notable first quarter transactions in Utah County include:

•        Concrete Production Plant in Pleasant Grove (22,400 sf)

•        Riverwoods Office Park in Provo (20,549 sf)

•        All Star Auto Plaza in Pleasant Grove (17,100 sf)

•        Wasatch Point Warehouse in Lindon (12,000 sf)

•        Pinehurst Office in Orem (6,867 sf)

For complete report visit:

http://www.comre.com/reports/2012Reports/Utah/UtahCounty_1Q12.pdf