NAI Utah recorded a second quarter vacancy rate of 24.4 percent among multi-tenant industrial properties in Washington County, representing an increase of about 3.4 percentage points from 2009 figures. During the second quarter of 2008, the industrial vacancy rate was 11 percent."The industrial sector got hit the hardest because that is where our labor market got hit the hardest," Walter said, with many construction-related companies folding or downsizing their operations.
Prior to the recession, the industrial vacancy rate was nearly nonexistent, Walter said, with the county recording a 2 percent rate during the second quarter of 2006. There is approximately 1.2 million square-feet of vacant multi-tenant industrial property in Washington County, Walter said. The total market is comprised of approximately 8.2 million square-feet of space. The Spectrum
