Utah County Office Market: Mid-Year Update

The Silicon Slopes Corridor is Reawakening

After a quieter 18 months, Utah County's office market is showing clear signs of renewed tenant activity. Demand is concentrated along the I-15 corridor — particularly Lehi, Orem, and Provo — where technology and professional services firms are once again evaluating expansion opportunities.

Vacancy & Rental Rates

Direct vacancy has stabilized in the mid-teens, and landlords are increasingly willing to offer creative concession packages to secure credit-worthy tenants. Average asking rates for Class A space remain near $24/SF FS, though effective rents tell a more competitive story.

What Tenants Should Watch

• Sublease availability continues to compress as primary leases expire and tenants consolidate.
• Parking ratio remains a top-three decision factor for in-person teams.
• Build-to-suit interest is rising for users needing 40,000+ SF of tailored space.

For tenants, the window to lock in favorable terms is open — but it's narrowing. For landlords, strategic reinvestment in amenity packages is paying off in tour volume.