MARKET TRENDS
- Availability declined year over year to 19.1%, the lowest level recorded since 2023. While still elevated, conditions are improving following higher availability throughout 2025.
- Leasing activity remained steady year over year at 0.7 million square feet (msf) in Q1 2026. Utah County North led leasing volume, accounting for 32.6% of total leasing activity.
- Asking rents increased year over year to $27.41 per square foot (psf). Class A rents rose to $30.10 psf, reaching their highest level in over a year, reflecting demand for quality space.