August 17, 2022: NAI Excel and NAI Vegas recently released their 2022 MIDYEAR publication covering commercial real estate along the I-15 corridor in Utah and Nevada. The report highlights recent trends in office, industrial, retail, and multifamily markets in Southern Nevada, Southern Utah, and along the Wasatch Front. The latest release marks the 30th edition of the publication.

According to the report, buyers of commercial real estate continue to experience limited availability and historically high sales prices in the first half of 2022. “Although cap rates have increased slightly since last year, lease rates are up for nearly every property type and vacancy rates are holding near decade lows for most asset classes,” stated Jon Walter, COO at NAI Excel.

The report details that the Federal Reserve is undertaking a deliberate strategy to contract the money supply and slow demand to reduce inflation. “We expect the Fed to continue tightening policy until they see a sustained slowdown in inflation, added Todd Manning, managing broker for NAI Vegas. “Once inflation returns to more neutral levels, and depending on the state of the economy, we may even see the Fed start to ease policy.”

Despite ongoing changes to fiscal policy, we are confident in the long-term opportunities along the I-15 corridor. The fundamentals of population growth, education, employment, and quality of life will continue to drive our local and regional economies.”