Why Coronavirus Won’t Stall SLC Growth

lt Lake Salt Lake City had a late cycle growth spurt. Office in particular as seen a surge of activity from the arrival of tech companies and the emergence of the Silicon Slopes scene. Then, the pandemic hit, threatening to derail the market’s potential. While no city in the US is immune from the impacts of the coronavirus, Salt Lake City is actually well prepared to rebound quickly, according to Tim Helgeson of KBS.

“Every market in the country, including Salt Lake City, has been impacted by COVID-19 in some way. How each market recovers will depend on its individual strengths and how nimble office owners and tenants are in adapting to the necessary changes that lie ahead,” Helgeson, asset manager and SVP at KBS, tells GlobeSt.com. “Because we are dealing with an unprecedented economic situation, the actual trajectory of any market has yet to be determined, and it may take some time for the office sector to fully recover. However, Salt Lake City is well positioned to rebound.”