According to an article by the Associated Press, Utah ‘s real estate development and commercial construction industries are rebounding. Utah ranked sixth in the U.S. in 2011 for spending across all categories of commercial real estate according to the Real Estate Development Association. That’s a 20 position jump, as Utah ranked 26th in 2010.
According to the study, $3.6 billion was spent in Utah in 2011 on development and construction of office, industrial and retail buildings. This jump was attributed, in part, to the new City Creek complex, and business buildings being built by Adobe and eBay. The same association is also predicting that growth in Utah over the next ten years will continue to be strong.
If you are developing commercial or residential property, contact Broadbent Law to find out how we can help your project succeed.