0
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
801.578.5555www.ngacres.com
NEWMARK GRUBB ACRESOFFICE SNAPSHOT Q1 2019TECH CORRIDOR, UTAH
§̈15
§̈15
Sandy
Draper
Lehi
American Fork
Lindon
Pleasant Grove
SouthJordan
Bluffdale
SaratogaSprings
9000 South
Bangerter Hwy
SR
-68
27
00
We
st
Sta
te S
tre
et
13
00
We
st
13
00
Ea
st
70
0 E
as
t11400 South
Ge
ne
va
Ro
ad
Timpanogos Hwy
9400 South
Main Street
12600 South
Pioneer Crossing
12
00
Ea
st2100 North
10400 South
12300 South
10600 South
30
0 E
as
t
10400 North
Alp
ine
Hig
hw
ay
14400 South
8600 South
1100 North
700 North
13800 South
12
00
We
st
2600 North
