Vacant office space in Salt Lake Co. hits a 5-year high

(Desert News) Vacant office space in Salt Lake County hit a five-year high in the third quarter, according to the CB Richard Ellis market report.

The report released Thursday stated that as of Sept. 30, the office-vacancy rate in Salt Lake County was 14.6 percent, up from 13.8 percent in the 2008 third quarter. The countywide office-vacancy rate reached its highest point since 2004, when it was 20 percent. In the third quarter, the average asking lease rate in Salt Lake County fell to $19.25 per square foot, down 2.7 percent from the second quarter.

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