Third-Annual Commercial Real Estate Symposium Held in Provo
Provo, Utah (March 8, 2017) — Business and community leaders from Utah County gathered at the Utah Valley Convention Center last week for the third annual Commercial Real Estate Symposium to discuss this year’s theme: adjusting to rapid growth. The Utah Valley Chamber of Commerce hosted the event, which featured conversations with various commercial real estate professionals, business development experts and transportation leaders within the county.
“Facilitating continued conversations between leaders in business and transportation — between all the major players in the area — is critical to addressing and resolving the concerns that follow such rapid growth,” said Brandon Fugal, chairman of Coldwell Banker Commercial Advisors (CBC Advisors), who partnered with the Utah Valley Chamber of Commerce on the symposium.
A panel of experts from CBC Advisors began with a presentation on the state of the market in Utah County, discussing growth in different sectors of the region and how to balance the economy for current and future success. Mary Street, land and development specialist; John Petersen, office specialist: Jarrod Hunt, industrial specialist; and Stuart Thain, retail specialist, all discussed the factors contributing to the current state of Utah County’s commercial real estate market and the possible adjustments that need to be made to sustain the rapid growth the area is experiencing.
“It’s vital to the success of our economy to have a balanced economy,” said Hunt. “Not everyone wants to go to college, not everyone wants to sit behind a computer all day.”
Much of the discussions throughout the symposium focused on transportation, as a panel consisting of Shane Marshall, deputy director of the Utah Department of Transportation; Mary Delamare-Schaefer, regional Utah County manager for the Utah Transit Authority; Derek Miller, president and CEO at World Trade Center Utah; and Steve Gleason, manager of the Provo Municipal Airport, discussed strategies to deal with current and future traffic concerns stemming from such accelerated expansion in the area.
The panel discussed a multi-faceted approach to solving transportation questions, including increasing the size of the freeway, adding parking stalls, and, especially, making major developments in public transportation, such as a bus rapid transit system and creating transit that is more connected, reliable and convenient.
“We need to have good conversations with our partners and businesses on how people get to work and where they need to go,” said Marshall. “We can’t just keep adding parking.”
Clint Betts of Silicon Slopes and Rona Rahlf of the Utah Valley Chamber provided the keynote presentation, highlighting plans to balance future growth in areas and industries outside of Silicon Slopes.
“We need to make sure Silicon Slopes doesn’t rise while the rest of Utah falls or remains stagnant,” said Betts.
Presentation slides from the event can be downloaded here.