I was in Utah on Wednesday and Thursday keynoting NAIOP’s Annual Real Estate Symposium in Salt Lake City. Utah is projected to be the 5th fastest growing state in the country over the next decade. Several people approached me to talk about St. George, one of my top 100 agurbs®. When I picked St. George I knew that they were good, but my conversations and further research convinced me that it is on its way to incredible growth.
St. George is in Washington County, the southwest most county in Utah. It is only 2 hours east of Las Vegas and is very strategically located to gain the many California companies that are fleeing that state’s burdensome policies and anti-business environment. The state of Utah released their long term growth projections for the state last week and Washington County is projected to grow at 4%/year thru 2050, taking the county population from 125,000 to 607,000 in 2050.
Last year they grew their industrial sf by 14% and already have another 6% growth under construction. Vacancy is at 2.5%. Keep your eye on St. George. It is on the move!
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