The Industrial Sector Confident Declares: “Plenty of Runway Left”

I read an interesting article recently based on sentiment survey of SIOR members. Here is the synopsis:

All that is good about the industrial marketplace as well as factors that influence it – good equilibrium between supply and demand, the prospect for stable and healthy activity levels, the strength of the economy, and ever-expanding e-commerce – continue to make the U.S. the safest place to put capital, for domestic and international investors alike. Given this performance consistency and in spite of threats that do exist, there is every reason to believe there is plenty of runway left. Excerpted from SIOR REPORT

CCIM Excellence Awards

Michael and I were very honored to share the award for the Largest Industrial Lease transaction in Utah last year. The CCIM Utah Chapter hosted another great event at the Grand America Ballroom at the annual Excellence Awards. We've been very fortunate to have incredible clients, an amazing team at IPG and feel lucky to live in the State of Utah where support from the the Governor's Office of Economic Development and EDCUtah can't be beat. Team Utah always rolls up their sleeves to create an environment for businesses to flourish and grow. Special thanks the Herriman City, Kennecott/Rio Tinto, Riverbend Management, and of course, Bullfrog International for giving us the chance to participate in the new building of the new corporate headquarters and manufacturing facility for Bullfrog Spas.

HemaSource to Move CORPORATE Headquarters and add Additional Warehouse Space

IPG Commercial & Newmark, Grubb, Acres announces that HemaSource has Leased 99,831 square feet of space in the Price 5600 West Building located in Salt Lake City at 485 South 5700 West.  HemaSource will be expanding with a move of their corporate headquarters and acquiring additional distribution space. Jeremy Jensen, and Michael Jeppesen, of IPG Commercial, represented the lessee, HemaSource and Kyle Roberts of Newmark, Grubb, Acres represented the lessor, Price 5600 West.

HemaSource is an innovative logistics solution partner that combines best-in-class data analytics and high-quality medical product supply to specialty ambulatory clinics. Their mission is to drive customer operational efficiencies and related cost savings in high volume ambulatory care clinics. HemaSource’s patented data analytics software tool and superior customer service have enabled them to become the preferred disposables provider to the plasma collection market.

The busiest start ever!

The busiest start EVER!

If your company is like several of our clients, then you are busier than ever!  Typically in commercial real estate things tend to slow down in January and February and start to pick back up in March and April.  Not this year!  We have seen the strongest start to a new year ever in our three decade careers.  It seems unintuitive, but perhaps economist Mark Dotzour was right a couple of years ago when he pronounced that our economy might just skip over the economic recession just like a fast driving car on a pothole filled dirt road.  (Link to Mark Dotzour presentation here: http://markdotzour.com/examples-of-my-work/videos/ )

 It truly has been a fast and furious ride and one that we are grateful to experience with all of you, our friends, families and clients alike.

 Hope you have a great rest of winter and looking forward to watching the flowers start to come up in the next 30 days or so!

Utah: A Millennial Mecca

Utah has the third highest number of millennial’s in the country with 23.6 percent of the state's population between the ages of 20 and 34. The national average is 20.6 percent.

Utah's youthful population will continue for years to come, as 30.5 percent of the state's population is under the age of 18 while the national average is 22.9 percent. Utah also has the highest percentage of school-age children and children under 5 in the nation. By 2065, the number of Utahns is expected to grow from its current size of 3 million to 5.5 million.

Source: Business in Utah – Business Elevated Guide