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Show the ENTERPRISE Rents Continued from page about $7.25 to $7.50 square foot. per 1 Kem Gardner, general manager at Boyer Company said, land costs are definitely There is agreement Most observers agree on what is causing the upcoming boost in rental rates, Akerlow says, Some costs have escalated lately. For instance, land prices have risen, construction costs are increasing, and building codes have added substantially to the price of building an office structure. on the rise and that will push up the rates. Construction costs are also contributing to the price rise. All this is especially true of downtown. But aside from the usual cost pressures, many developers point to occasional wild fluctuations in the supply of office space in the past. Brooks thinks this is an impor- tant factor. The past history of new People on the move construction in the Salt Lake market has kept the rates depressed below their normal level. A good example of this, continues Brooke, is the time a couple years ago when the LDS Church brought the Beneficial Life Tower and the Church Office Building on to the market at the same time. Salt Lake just doesn't have office space, or a high enough absorption rate, to accommodate that kind of increase. Times like that have kept the market for office space perpetually soft. Larry Hill at Busch There is no question that the Church contributed to substantially lower rates when they brought those two buildings on the market. gh es. Brown, McDonalds Restau- rants; W. B. White Whites S & J Industrial Jr., Sup- ply; Ben Smith, Lavoy's; and William Gurr, Walker Bank and Trust. Bob Clark, a previously salesman with another local partitions firm, has been named sales manager, and Andy Wilde, formerly customer services manager for Holland equipment, will move to the same position at Interior Space. ' Cheryl Roberts Baldwin has joined the advertising agency, et. al, inc., as chief copy writer. Baldwin was formerly employed by the University of Utah Division of Continuing Education as copywriter for DCE Advertising Marketing. WINDJAMMER'S fSLaND DRea 12 and 9 Day tours to (Hawaii 639pbitu-fDqrTwr...(4M- Thursday Departures 619 ptw tx t 5300 South & Freeway 7200 South & Freeway Pressure comes to bear Light mfg. and distribution space. 2,000 Sq. ft. to 17,000 Sq. ft. or build to suit, easy access. For details, call Dick, Bob, Jerry. 972-250- 2250 South Redwood Road 1 MEMBERSHIP! 4-wh- eel FAST EFFICIENT SERVICE - is Day tm (4 TRUCK RENTAL CENTER & 21st South 972-220-2 699 porportM 'CdBrSsi from UC (Including air fora) for 1978 spacel Winter AlrSoa Cruise aboard tho luxurious M.S. OOLDEN ODYSSEY fio INDIVIDUAL REALTOR Pickups, stakes, vans, diesels, drive units, Rent hour, day, week or longer Redwood Road Eram Book now 0 and Investment Co. MEDITERRANEAN CRUISE OR PANAMA CANAL 0-D- ay aiid suddenly flood the market with buildings all at once? Brooke doesn't fear such an occurrence. The past five years are entirely different from the preceding years. If you wanted to do a regression on rates, you could only do it for the last five years. Now we have excess demand instead of excess supply. With growth in store for Utah, office space will be in tremendous demand, so it might be difficult to soften the market. M4i) CRUISE THE CARIBBEAN on tho AMERIKANIS 8 Fantastic Days 6 ports of call Will the past repeat itself, FREEWAY EXPOSURE rates. Interior Space Systems, a new division of Holland has appointed a sales manager and customer services manager. up. Todd-Lig-nel- ls Brooke also thinks demand pressure is playing its part. Everyone knows this region is experiencing tremendous growth, and it will become a center where a lot of companies locate regional offices. That's started, and it will continue to increase rental Elden John Rich has been elected president of the South Salt Lake Chamber of Commerce. Rich is a sales consultant with Bekins, Sugar Van Lines. House Also elected in the Chambers January meeting were: Glade Honson of Control Co., vice president; Robert Cowan, Valley Bank and Trust Co., secretary; and Robert Fitts, U.S. Novelty, will remain treasurer. Elected as directors of the Chamber were: Jerry Hayes, Hayes Brothers Buick; Pat that rates are on their way average rental space in downtown Salt Lake is about $7 per square foot, said project, which will break ground in February and take about 15 months to complete, will hit the market at about $8.50 per square foot. One observer, who wished to remain unidentified, said there are rumors the Beneficial Life Tower plans to hike the rate to $9 per square foot. Akerlow said he thought $8 to $9 will be the going rental rate in the very near future. He said I cant be too sure about that, but everything 1 see points to the conclusion Although there seems to be general agreement regarding the coming increase, no one wants to predict where rates will be, even in the near term. The best idea we can get about increases is to gauge the price of new office space. Akerlow, who thinks the q 991 nt LICENSEE WINDJAMMER TRAVEL SERVICE 4441 E. 2100 Si., $LC, UTAH 14105 486-476- 1 a |