[Updated Oct 2020] A guide to executive suites and office space to rent in Salt Lake City UT as well as general information that may be useful if you are thinking of renting offices in Salt Lake City UT.
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History & Geography
Salt Lake City is the capital of Utah and the most populous city in the region. The city’s location is unique in that it is one of the only heavily populated urban areas in the massive wilderness region to America’s west known as the Great Basin. The city derives its name from the Great Salt Lake which lies to its northwest. Salt Lake City is flanked on its east and west by the Wasatch and Quirrh mountain ranges. Before Europeans discovered the region, the Ute, Shoshone and Paiute had dwelled in the area for thousands of years. The first American to explore the region was the famous scout Jim Bridger. The first permanent settlements in the area were established by the Mormons under their leader Brigham Young. In 1850 the Utah Territory was established by the US government and in 1858 Salt Lake City was named as the capital of the new territory. The population of Salt Lake City grew rapidly, fueled by Mormons and gold prospectors. A conflict arose with the US government however over the Mormon practice of polygamy, and in 1857 the US Army occupied the city. The Mormon church eventually abandoned polygamy and in 1890 Utah was declared a state. Salt Lake City was reached by the Trans-Continental railroad late in the 19th century and with the advent of the 20th century the town was modernized, with streetcars and other modern amenities being built. During this time the city prospered economically from its mining industry. Later in the century, many residents moved to the suburbs surrounding the city. In 2002 the city hosted the Winter Olympic Games, which were a success, despite controversies surrounding bribes and drug use. Today Salt Lake City is the industrial banking center of the country as well as being a popular destination for tourists interested in outdoor recreation.
Economy
In its early days, Salt Lake City’s economy was based largely on the industries of steel and mining. However, these died out and today the city’s economy is largely service-based. Professional and business services are the bulwarks of the city’s economy, along with transportation, utilities, government services and trade. Delta Airlines is a major employer in the city, as are Sinclair Oil Corporation, University of Utah and the Church of Latter Day Saints. Among the larger companies based in Salt Lake City are Huntsman Corporation, Zions Bancorporation and Questar Corporation. Health services and health education services are also important in the city, with Intermountain Health Care being the largest health care provider in the region. Recently a number of hi-tech firms have also established operations in Salt Lake City, including eBay, Unisys, Siebel, Micron and Telarus. Tourism is also a fairly large industry in the city, especially outdoor recreation, with the area being a popular skiing destination. Additionally, the city is a popular destination for conventions, especially since the construction of the Salt Palace Convention Center. Of late the downtown area of the city has seen massive population growth and new apartments and other residences are currently being developed to cope with the growth.
Tourism & Culture
Winter sports are very popular in Utah and the Wasatch Mountains surrounding Salt Lake City are a favorite destination of skiers and snowboarders. Since the 2002 Winter Olympics, the popularity of the ski resorts near the city has increased by at least 20 percent. Now, these resorts, including Alta, Brighton, Solitude and Park City Mountain Resort are regarded as some of the best in the country. In the summer many visit the area for its mountain biking trails, rock climbing and camping opportunities. Boating and fishing in the reservoirs of the Wasatch Mountains are also popular pastimes. The city itself also has a number of sites popular with visitors. One of these is the Salt Lake Temple of the Church of Latter Day Saints and Temple Square, which surrounds the building itself. This Is The Place Heritage Park, which replicates life for settlers in the 19th century is another popular tourist destination. For those with more modern tastes, there is the Gateway District, an outdoor shopping center with a myriad of restaurants, stores and a cinema.
Transportation
Salt Lake City International Airport is one of the busiest airports in the country and is located approximately four miles from downtown. It is rated first in the country for on-time departures and has the second-lowest number of cancelled flights in the nation. The city itself has a comprehensive bus system as well as a light rail system. Salt Lake City’s public transportation system was recently ranked as the third best in the US at connecting people with their jobs. Cycling is increasingly popular in the city and there is a large network of cycle lanes spanning the downtown area.
Office space for rent in Salt Lake City
Generally, Salt Lake City has low rates of vacancy in the downtown area, though this may change as there are several major projects in the pipeline due to be completed soon. There are several other buildings being refurbished to be reclassified as Grade A office space. Currently the average rental rate for downtown Salt Lake City is USD 18 per square foot, a decrease in the preceding years. There is a fair amount of office space of varying quality in the suburbs surrounding the city itself, though of late many companies have relocated to Salt Lake City’s CBD.
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