Mountain West Commercial Real Estate Releases 2024 Year-End Market Report
Salt Lake City, UT – Mountain West Commercial Real Estate (MWCRE), a full-service commercial real estate brokerage, has released its 2024 Year-End Market Report, offering in-depth insights into the commercial real estate landscape across Utah, Nevada, Idaho, and Montana.
The report highlights key trends shaping the market, including sustained economic growth, increasing demand for commercial spaces, and evolving investment opportunities.
“We are proud to provide data-driven insights that help our clients make informed decisions in an evolving market,” said Nick Wood, CEO of Mountain West Commercial Real Estate. “This year’s report underscores the strength of our region’s commercial real estate market and the opportunities that lie ahead in 2025.”
Retail: Vacancy remains near historic lows across almost all markets, applying upward pressure to rents.
Industrial: Tenant demand remains strong, but several markets experienced an historic wave of deliveries over the last four years driving vacancy higher. A significant decrease in construction pipelines will see vacancy continue to decline with rent grow increasing.
Office: Cyclical vacancy may have peaked, and sublease vacancy declined significantly in many markets. Class A office space continues to outperform as businesses seek high-quality amenities to attract employees back to the workplace.
Investment: Investor uncertainty surrounding the November 2024 election and higher interest rates throughout much of the year suppressed investment activity for the second consecutive year. There was a substantial uptick in activity following the election and interest rate cuts by the Federal Reserve. With additional rate cuts expected in 2025, activity should continue to ramp up with cap rates decreasing for certain asset types.
With over 12,630 completed transactions totaling $14 billion, MWCRE continues to be a trusted leader in commercial real estate. The firm remains committed to delivering expert market intelligence and strategic solutions for clients navigating the evolving landscape.
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About Mountain West Commercial Real Estate
Mountain West Commercial Real Estate is a full-service commercial real estate firm specializing in Brokerage, Property Management, development services, and Capital Markets. With a team of experienced professionals, Mountain West Commercial Real Estate delivers personalized solutions to clients across the Western United States
Media Contact:
Jerad Giottonini
MWCRE Director of P.R. & Communications
Phone: 385-501-2928
Email: jgiottonini@mwcre.com