Show BUSINESS DEMAND INCREASING RENTS More Ground Floor Space Is Wanted in Downtown Section SITES BECOME VALUABLE OLD BUILDINGS ARE NOT PAYING GOOD INTEREST Rents of ot stores and offices In the business district and of ot houses In the residential district have practically kept pace ace with the Increase In the values of realty during the past five live years ears In the business district rents hava hav been Increased to per percent CIt cent while In the residence district 25 per cent increase Is noted R Ii Rl ul ci estate experts advance a num number numbe ber be r of reasons for this condition In Int t first place they say that it is the logical result of the rapid growth of ot tl u ity t ty and the correspondingly In Increase crease Ii 1 i valuation of the business dis tr t property Another one of the rea reas s sr rs advanced is that the demand for ground floor space at the present time fir hr exceeds eds the supply and as a result thos who are seeking business loca locations tins are willing willine to pay almost any pric lr for rr choice locations One 01 notable example of the increase n a rent rt of ground floor office quarters js j s by the experience of a well known real estate firm Five years ago th quarters could be rented for 75 r z month now the same quarters are arera ra 1 J 1 at a rental valuation of ot a anth anti nth St rr rooms on the ground floor that err cr bringing a month five years ago 10 art now in lively live demand at 1000 c monti month And even at the latter price thera tere are not enough to supply the de do irand As a result of the great demand fir fr store rooms of moderate size and moderate lodE rate rent buildings of the smaller type have hae been built on State street and andi i n tlc the streets running east and west of MaU Ll r street in the business district Want Ground Floors That ILat there is a great demand for gr floor quarters is shown by the fart LIet four tour of the eight store rooms i 1 I Burlington business block cor eor corr corI r I West Temple and Third South have been rented and the build I r g Is nut nt yet et completed 1 f of most inest of the buildings in th city lU figure the rents on the basis of oft J r t of the buildings originally and andt t t t of the upkeep Even with rents s hn as they are at the present time timet t i known that some buildings bring i 1 ls 1 than 4 per cent on the t This Is due in great grea t measure to tot t c f V t that some of ot the buildings are aret rt t modern and yet et occupy ground t t is very valuable in other words i iI I r Th irn rn buildings occupied some of oft t i I Main street sites the ther iv r 3 r would of ot course get better re ret ret t T rr u II the investment I tL larger office buildings such as ase e skyscrapers the rent is isby r 1 r by the square foot taking the thea ther r a it basis by which to reckon how j r 1 i hall be charged The rent of oft tv t buildings is about per peri pern i n rt r foot While the rent of office 1 in these the e two structures was wae wast t cH t to be high when they were t IYO r occupancy it is a well known t tit it proportionately proportionate smaller re rex reL reit x L iro it r had on the investment than thann thanH H n buildings in the east cost coste e ut Pitt the same amount of money mone Five Times Increase not nut hard to understand why r t m n fl general have gone up during t five fhe years when some of the ther r r r rt increases In valuation are Continued on Page Two BUSINESS OE DEMAND AND INCREASING RENTS Continued From Page One noted Five years ago tho the property properly just north of the Boston building now occupied by the Felt Feit building could be purchased at per front foot At Atthe Atthe Atthe the present pre ent time this property is said to be worth 2 2500 a foot Across the street on what is known as the Bam Barn Bamberger Bamberger I berger corner recently purchased by bythe bythe bythe the Walkers property was then worth about per front foot For sixty six feet of ground on this corner comer the Walkers paid or at the rate of ot per front foot This is illustrative of the phenomenal Increase e of values In certain portions of or the city The growth of values alues In the upper Main street district have not been quite so phenomenal as in the lower l Main street district but still sUIl have been great enough to stir sUr things up a bit Ezra Thompson bought property north of the Tribune building five years Tears ago for 1025 a foot and this property is IB today said to be worth better than 2500 a front foot With the great Increase in realty values it is little wonder that the rents have been raised It Is extremely probable probable probable able too that so long Ions l ng as aa the property values are on the upgrade the rents will correspondingly |