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Salt Lake Metro Q3 2026 Office Market Report

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MARKET TRENDS

  • Availability declined 280 basis points year over year to 18.6% in Q3, signaling improving market conditions amid sustained reductions in available space.
  • Leasing activity increased year over year to 1.2 million square feet in Q3 2026. Utah County North led with 43.5% of total activity, supported by several large renewals.
  • Average asking rents increased slightly year over year to $27.14 per square foot (psf). Class A rents reached $29.46 psf, reflecting continued pricing stability.

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