Remote work is keeping office vacancies high, yet visits to the heart of the city are soaring past their pre-pandemic levels.
People enjoy an evening in downtown Salt Lake City on Tuesday, May 30, 2023. Visits to the heart of Salt Lake City, a study shows, have surpassed pre-pandemic levels.Signs that the pandemic shift to hybrid work isn’t going away anytime soon — if ever — are easy to spot across downtown Salt Lake City.
That number has climbed as high as 30% and 50% in parts of Salt Lake County as major employers put spaces up for sublease or sale and some industries lay off workers. Combined with interest rate hikes and widespread economic uncertainty, the office sector’s deepening downturn with all those empty cubicles and meeting areas could take years to improve, real estate brokers say, for Salt Lake City and other urban areas across North America.
An ongoing geolocation study of 62 U.S. and Canadian cities indicates that regular visits between December and February to an array of points of interest downtown — ranging from businesses, shops and offices to landmarks, parks and community hubs — are at 139% of their pre-pandemic levels. The analysis found that only Salt Lake City and four other places had central business districts with visits exceeding pre-pandemic levels: Bakersfield, Calif., at 118%; Fresno, Calif., at 115%; Columbus, Ohio, at 109%; and El Paso, Texas, at 106%.
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