James Lee Sorenson, manager of Sorenson Group Management, is building one of at least four multi-tenant office buildings that are under construction totaling more than 481,000 square feet of space. There is also the Old Mill IV in Cottonwood Heights, The Interchange in Draper and The Gateway 6, a building in downtown Salt Lake City that is fully leased even before it’s completed.Sorenson isn’t alone in his optimism about the Wasatch Front’s office sector, which driven by corporate expansions seems to be in the midst of a turnaround after slumping during the downturn. This is following job growth, where Utah has remained in the top five among all states for some time.
Although office vacancies along the Wasatch Front remain high, they are at their lowest rate in three years, according to the Salt Lake City office of commercial brokerage CBRE.
