• Construction activity remained strong with 7.1 million sq. ft. under construction in Q1 2020, with over 6.0 million sq. ft. scheduled to deliver by the end of the year.
  • Over 1.0 million sq. ft. completed in Q1 2020—all located in the northwest quadrant of Salt Lake County.
  • Lease activity in Q1 2020 reached 1.3 million sq. ft., driven by the 832,096-sq.-ft. lease by Henkel in the West Valley submarket.
  • Availability increased 50 basis points quarter-over-quarter from 4.9% to 5.4%.
  • Nearly 560,000 sq. ft. of positive net absorption was recorded this quarter, extending the current record to 33 consecutive quarters of positive net absorption since Q1 2012.