Commerce Communique'

June 2009: Commerce CRG Volunteers at the Utah Arts Festival

On Thursday, June 25, 2009 a group from Commerce CRG volunteered at the 33^rd Annual Utah Arts Festival, pouring and serving beverages and greeting people to the festival. “The mission of the Utah Arts Festival Foundation, Inc. is to produce the annual Utah Arts Festival, for the purpose of promoting the arts and enhancing the quality of life in Utah.” Internationally and nationally know, the four day festival is a great kick off to the summer in Utah.

Utah's Economy: A Difficult Decade 2000 to 2010

Historically, Utah has been a high employment growth state. Since 1980 employment has grown annually to a percent rate or 3.0, which ranks third among all states. Only Nevada and Arizona have had higher rates of employment growth. Looking at a shorter time frame - 2000 to 2008 - Utah maintains its high ranking, with an average annual growth rate of 2.0 percent.

Read the full report:
Download Utah Economy 054 May 2009

Utah Commercial Real Estate…Distressed Assets Ahead?

Investors, brokers, and appraisers are all waiting on the lending institutions to place large volumes of distressed commercial properties on the market at deep discounts from perceived current market values. Memories of the RTC days are still with us and many industry professionals see it all happening again. However, 20/20 hindsight frequently colors the memory with a “rosy hue.” The actual experience of the 1980’s was not all together a pleasant one for many. That was a time when the savings and loan industry collapsed for a variety of reasons, including fraud and poor tax policies that led to severe overbuilding and poor lending procedures with lax underwriting. Looking back many view the RTC era as the Redistribution of The Commercial property act and have forgotten how many real estate fortunes were wiped out during this period.

Read the full report:

Download JuneEditorialJTaylor

 

John G. Taylor, MAI CCIM is an Investment Specialist with Commerce CRG. He can be reached at 801.303.5415 or jtaylor@commercecrg.com.

Reproduced with permission of The Enterprise, Utah's business journal, www.slenterprise.com.

Interactive Map of Utah, Sales Tax Distributions by Entity May 2008-May 2009

Data from the Utah State Tax Commission and Bonneville Research.

http://local.commercecrg.com/Mapping/kml/Lawson/JuneMap.htm

Commerce CRG Headquarters Will Move To Downtown Salt Lake

June 8, 2009, Salt Lake City, UT –  Commerce CRG, a Utah based commercial real estate firm, with five Utah offices, a Las Vegas office and active real estate involvement throughout the Intermountain West, will be moving to downtown Salt Lake City this fall.  The firm has leased the 16^th floor of 170 South Main, one of the city’s first high-rises, acclaimed for its architecture and quality of maintenance. The building is seeking and has been registered for LEED certification.

 

Commerce CRG, which is celebrating its 30^th anniversary this year, has been searching for new space for several years.  “We wanted to make a statement that as the oldest and most experienced commercial real estate firm in the state, we will be here for the next 30 years,” said Mike Lawson, Commerce CRG president and CEO.   Commerce CRG has been at its current location, 175 East 400 South for 22 years. 

 

In the last few years, the main Salt Lake office has increased staff and added ten additional agents.  The company is eager to make the move to accommodate current and future growth and to provide clients with the best possible service environment.  The new location will also be symbolic in nature, because clients can visibly recognize Commerce CRG as a downtown hub of real estate professionalism. 

 

In addition to moving into 170 South Main, Commerce CRG has managed 170 South Main since 2005 and handled leasing since 2006.   In 2008 the classy structure received a TOBY award (The Outstanding Building Of The Year) from the Utah chapter of The Building Managers and Owners Association

 

Commerce CRG, headquartered in Salt Lake City, with five Utah offices, a Las Vegas office and active real estate involvement throughout the Intermountain West, has been the leading provider of real estate brokerage services in Utah for 30 years. As an Alliance Member of Cushman & Wakefield, Commerce CRG provides consulting, brokerage, tenant representation, property and facilities management and valuation services to corporations, institutions and investors throughout the Rocky Mountain States. The firm is one of 25 members of the Cushman & Wakefield Alliance Program.   www.commercecrg.com

 

Mapping Coverage Areas Across the Nation

The following map shows areas across the nation where data has been gathered and/or maps have been created.

Commerce CRG Mapping/GIS Group
The Business of Location

May 2009: Intrest From Across the Nation and Canada

This map, for the month of May 2009, displays incoming calls to Commerce CRG from across the US and Canada. These geographic areas indicate interest in Utah and Nevada. Click on the below link to download the map.

Commerce CRG Mapping/GIS Group
The Business of Location

http://local.commercecrg.com/Mapping/Maps/PhoneCalls/5-09/IncomingCalls.pdf

Map of Residential Default Percentage by City for Davis County Utah

Data from First American CoreLogic and Bonneville Research.

Commerce CRG Mapping/GIS Group
The Business of Location

http://local.commercecrg.com/Mapping/Maps/BonnevilleResearch/DACOForeclosurePct.pdf

May 2009: Commerce CRG Canines Strut Their Mutts

 

On Saturday, May 30, 2009 a group from Commerce CRG formed the “Commerce CRG Canines Dog Pack” for the 14^th Annual Strut Your Mutt, a dog walk and festival to raise awareness and funds for No More Homeless Pets in Utah. The mission of No More Homeless Pets in Utah “is to end the euthanasia of homeless dogs and cats statewide and promote humane alternatives for feral cats. When No More Homeless Pets in Utah started in 2000, 46,000 animals were euthanized each year in Utah shelters. Now, eight years later, that number has dropped to 33,000.”