SALT LAKE CITY, Sept. 12, 2017 — According to new research from Cushman & Wakefield Commerce, the apartment market in the Salt Lake City area is currently at historic levels. Mid-year figures show the vacancy rate is 2.6 percent, which is the lowest ever reported. “For the third consecutive year, the apartment communities in the Salt Lake Area are considered fully occupied,” said Kip Paul Executive Director, Investment Sales at Cushman & Wakefield. “This low vacancy is fueling a record-breaking level of construction of new apartment buildings. This begs the question of whether the market is over-building. The data shows that even with previously unmatched levels of development, the demand is such that there is no sign of oversupply in the foreseeable future and property investment, particularly in midsize communities is particularly attractive to buyers.” Paul said midsize apartment communities (100-250 units), for the first time in recent history, are driving [...]
Cushman & Wakefield closes acquisition of partner firms in Minneapolis, Seattle, Salt Lake City, and Las Vegas markets
200 brokers, 50 million sf of managed properties, 750 employees join Cushman & Wakefield CHICAGO, September 5, 2017 – Cushman & Wakefield today announced it completed its acquisition of Cushman & Wakefield NorthMarq (CWN) in Minnesota and Cushman & Wakefield Commerce (CWC) operations in Nevada, Utah and Washington. Collectively, Cushman & Wakefield NorthMarq and Cushman & Wakefield Commerce employ 750 employees and manage almost 50 million square feet of real estate across 10 offices and have 200 brokers. “These are great markets with a solid operations, top people, and strong leadership. Together we are affirming our commitment to deliver our clients the best strategic advice and platform of services,” said Tod Lickerman, Chief Executive Americas, Cushman & Wakefield.
Read the full press release here.
Travis Healey of Cushman & Wakefield Commerce Achieves SIOR Designation from Society of Industrial and Office REALTORS®
SALT LAKE CITY, July 13, 2017 – Travis Healey Senior Director/Industrial – Industrial Brokerage at Cushman & Wakefield Commerce in Salt Lake City, has achieved the SIOR designation awarded by the Society of Industrial and Office REALTORS®. To achieve the SIOR designation, Healey completed at least five years of creditable experience in the highly specialized field of office real estate; met stringent education requirements; and demonstrated professional ability, competency, ethical conduct, and personal integrity. SIOR enforces a strict code of ethics and requires designees to complete its ethics course within their first three years of membership. “Achieving the SIOR Designation is reserved for individuals who consistently exhibit ethics and integrity in the course of a successful commercial real estate career,” said Trigger Reital, SIOR, Market Leader of the Cushman & Wakefield Commerce Salt Lake City office. “We congratulate Travis for this noteworthy achievement and welcome him to the ranks of [...]
SALT LAKE CITY, June 28, 2017 – The The Salt Lake City office of Cushman & Wakefield Commerce has added a new Operations Director. The role will strengthen support for the brokerage and property management businesses as the company continues to grow in Salt Lake City. “As our team continues to grow, it is important to provide the operations and research support that will help our entire organization better serve our clients,” said Trigger Reital, Salt Lake City Market Leader, Cushman & Wakefield. “We are thrilled to have Jake join the team and are looking forward to working with Matt in his critical new role.” As the new Operations Director, Bowman will collaborate with Business Leaders Reital and Molly Westbrook, vice president-Asset Services, to lead the operations of four Utah offices. He will manage commission processing, financial reporting, budgeting, revenue forecasting, review and management of all contracts, and ensure accuracy [...]
Tom Freeman of Cushman & Wakefield Commerce Achieves SIOR Designation from Society of Industrial and Office REALTORS®
SALT LAKE CITY, June 26, 2017 – Tom Freeman, Executive Director – Industrial Brokerage at Cushman & Wakefield Commerce in Salt Lake City, has achieved the SIOR designation awarded by the Society of Industrial and Office REALTORS®. Individuals who earn the SIOR designation adhere to the highest levels of accountability and ethical standards. Only the industry’s top professionals qualify for the SIOR. Today there are more than 3,000 SIOR members in 630 cities in 34 countries. “Becoming a designated member of SIOR not only means that the individual has a stellar track record of conducting successful business, it also means the person has been given a vote of confidence by other SIOR members regarding the ethics and integrity of the individual,” said Trigger Reital, SIOR, Market Leader of the Cushman & Wakefield Commerce Salt Lake City office. “We congratulate Tom on achieving this designation and I welcome him to the [...]
Congratulations to Dana Baird for being selected to serve on the NAIOP Utah chapter Board of Directors. In her role on the Executive Committee, Dana will leverage her extensive commercial real estate experience to support NAIOP’s mission to influence local, state, and regional legislative policy, provide superior education events, and foster networking opportunities in Utah. Salt Lake City, UT – June 5, 2017 - NAIOP Utah, the Commercial Real Estate Development Association, is pleased to announce its Board of Directors for the June 1, 2017 through May 31, 2018 term. President: Nate Ballard, Wadsworth Development Group President-elect: Angela Eldredge, Price Real Estate Secretary: Julie Berreth, Architectural Nexus Treasurer: Jacob Despain, Zions Bank Membership: Steve Somers, Wells Fargo; Penn Owens, Layton Construction Programs: Vinnie Figlioli, Harris Mechanical Intermountain; Daniel Stephens, Hines Public Affairs: Lindsey Parker, Ballard Spahr; Jim Balderson, JLL Developing Leaders: Sina Sharifan, DIRTT Environmental Solutions Student Relations: Katie Wilking Clinard, [...]
Seattle and Salt Lake City make the Top 25 list that otherwise secures Silicon Valley’s crown as king of tech SALT LAKE CITY—June 8, 2017—Seattle, Washington and Salt Lake City, Utah emerged as promising tech cities after San Jose (Silicon Valley) and San Francisco, according to Cushman & Wakefield’s inaugural “Tech Cities 1.0” national report launched today. Within the top 25 U.S. tech cities, Seattle, Washington, emerged in sixth place and Salt Lake City, Utah, emerged in 24th place. In Seattle, tech giants such as Amazon and Facebook have grown their footprint in Seattle in recent years. “The technology industry has no doubt been the fuel that has fed the expansive growth and strength of this market,” said Matt Christian, Executive Director Cushman & Wakefield Commerce. “Several tech companies have satellite offices specifically in Seattle to draw from the deep pool of software engineering talent that is nurtured here like [...]
Cushman & Wakefield Commerce Grows St. George Team with the Addition of Seasoned Commercial Real Estate Pro, Mike Hillis
ST. GEORGE, UTAH—May 25, 2017—The St. George office of Cushman & Wakefield Commerce today announced it has added industry veteran Mike Hillis, SIOR, CCIM to its team. As a Senior Director, Hillis focuses his efforts on industrial leasing and sales and investment opportunities for clients. “Mike is one of the region’s most successful and experienced commercial real estate professionals,” said Travis Parry, Senior Director in the Cushman & Wakefield Commerce St. George office. “We are excited for Mike to leverage his broad experience in successfully managing the evolving complexities of real estate on behalf of our clients. Mike is a respected leader and we welcome him to the Southern Utah team.” From 2006 to 2012, Hillis served as Managing Partner for the Cushman & Wakefield Commerce’s Las Vegas office after 12 years as a broker in the Salt Lake office. To compliment his professional experience, he has achieved the designations [...]