September 12, 2013

Cover Story

CEO of the Year

Utah’s business landscape is rich with professionals who have le...Read More

Featured Articles

Did you go Skiing this winter?

Around Utah


Martin Plaehn

Karen Sendelback

Legal Briefs
Social Media and Employers: Friends or Enemies?

Money Talk
The Case for HSAs

Economic Insight
Time to Show Up

Lessons Learned
Make a Move

In the Lab

Rent to Own

Business Trends
Back from the Dead

Living Well
Artful Inspiration

A Breath of Fresh Air

Worst-Case Scenario

Regional Report
Northern Utah

Measure Up

Industry Outlook
Travel & Tourism



Cushman Wakefield Releases First Study of SL Valley Medical Office Buildings

Press Release

September 12, 2013

Salt Lake City — Cushman and Wakefield | Commerce has completed the first study of Medical Office Buildings to be conducted in the Salt Lake Valley.

The study was conducted by Peter Hanlon and his colleagues in the office division, and the research team of Cushman & Wakefield | Commerce. The study, titled “Market Beat-Medical Office Snapshot,” includes more than 50 medical office buildings in Salt Lake County and is effective through the second quarter of 2013. The study covers 17 on-campus buildings and 34 off-campus buildings, covering 2.5 million square feet.

To be included in the study, a medical office building must be at least 20,000 square feet and must have 51 percent or greater occupancy of medical tenants.

The study shows that overall vacancy for medical office space in Salt Lake County is 16 percent and the average asking lease rate is $13.44 per square foot. Adding an estimated $7 per square foot for operating expenses provides an equivalent asking lease rate average of $20.44 per square foot, full service. There is approximately a $2.20 per square foot premium for on-campus medical office space versus space not located on a hospital campus.

It is projected that demand for Medical Office Space will continue to be strong for the foreseeable future due to:

Demographics in Utah, which includes strong population and economic growth.

Demographics in the U.S., which is showing an aging population of baby boomers.

Increased demand for medical care as a result of the Affordable Care Act, which will provide medical insurance to more than 30 million additional people in the country.

The study can be accessed at here

Utah Business Social
UB Events View All
Best Companies to Work For 2015Utah Business Event
Dec 10, 2015
Utah Business magazine is thrilled to announce the 2015 Best Companies to Work for Event! This y...
Community Events View All
Empowering Self and Others: Become and Awakener
Dec 1, 2015
Uncover the secrets of empowerment. Whether you are a parent, a teacher or a Coach, you’ll find ...
Secrets to Financing your Business
Dec 1, 2015
Register:  |  90 South 400 West, Ste 650 Salt Lake City, Utah 84101   |  (801) 568-0114

Advertise with Utah Business

Submit an Event

* indicates required information
* Event Name:
Price (general):
Website (if applicable):
Coordinator's Name:
Coordinator's Email:
Coordinator's Phone:
Venue Name:
Venue Address:
Venue City:
Venue Zip:
Event Capacity:
* Event Description: