UTAH INDUSTRIAL MARKET ATTRACTING MORE INSTITUTIONAL MONEY
Cole Corporate Income Trust announced this week the purchase of seven new assets including a 150,000 square foot distribution facility leased by Fedex Ground in Salt Lake City. Why should Salt Lake be on the radar for national institutional money? Although Salt Lake City is only number 48 in terms of size of population in the rankings of metropolitan areas, it is ranked number 14th in square feet per person of national warehouse markets on the path of goods movement. Due to Salt Lake’s position on this pathway, moving materials to manufacturers and from manufacturers to retailers, it contributes to keeping demand for warehouse space high and vacancies low. It is also one of the reasons why Industrial Real Estate in Utah will continue to attract institutional investment.