Orem, Utah: A Premier Destination for Commercial Real Estate

Introduction

Orem, Utah, is a burgeoning hub for commercial real estate, attracting investors and businesses with its strategic location and dynamic economy. Known as part of the Provo-Orem metropolitan area, Orem boasts a diverse economy with significant industry clusters in technology, education, and healthcare. Its unique positioning within Utah Valley makes it a prime destination for various commercial real estate (CRE) opportunities.

Economic and Industry Overview

Orem's economy is supported by a robust mix of industries, including:

• Technology: As part of the Silicon Slopes, the area is home to numerous tech startups and established firms.
• Education: Home to Utah Valley University, contributing to a skilled labor pool and driving demand for office and retail spaces.
• Healthcare: Significant presence of healthcare institutions, leading to a steady demand for medical office spaces.

The Utah Governor's Office of Economic Opportunity actively promotes the region's economic development, fostering an environment conducive to business growth.

Strategic Location and Transportation Infrastructure

Orem benefits from a well-connected transportation network:

• Highways: Located along Interstate 15, providing seamless access to Salt Lake City and beyond.
• Airports: Proximity to Provo Municipal Airport and Salt Lake City International Airport enhances connectivity.
• Public Transit: Served by the Utah Transit Authority, ensuring efficient public transportation.

These transportation assets make Orem an attractive location for logistics and distribution businesses. For more details, visit the Utah Department of Transportation.

Commercial Real Estate Inventory & Zoning

Orem's CRE landscape is diverse, featuring:

• Submarkets: Central Business District, industrial corridors, and innovation districts.
• Asset Classes: Includes industrial, retail, office, and medical spaces.
• Zoning: Recent zoning changes have encouraged mixed-use and high-density developments.

For zoning maps and parcel viewers, check the City of Orem's Planning Division.

Major Employers and Institutions

Key employers and institutions in Orem include:

• Utah Valley University: A major educational institution.
• Nuskin Enterprises: Global headquarters located in the area.
• Intermountain Healthcare: A leading healthcare provider.

These entities drive significant demand for commercial spaces, contributing to the city's vibrant economy. For a comprehensive list, visit the Utah County Economic Development.

Notable Commercial Developments & Projects

Orem is witnessing several large-scale developments:

• University Place: A mixed-use development offering retail, office, and residential spaces.
• Innovation Park: Designed to attract high-tech industries and foster innovation.

For more information on these projects, visit the Orem City Planning Department.

Building Permits, Planning, and Development Tools

For developers and investors interested in Orem, the following resources are available:

• City’s Building and Safety Department: For permits and safety regulations.
• Permitting Portal: Streamlined process for obtaining necessary permits.
• Parcel Map Viewer / GIS: Interactive map for property information.
• Planning Commission: Guides city development and zoning decisions.
• Development Code: Comprehensive guide to Orem's development regulations.

Market Data & Economic Reports

Orem's market data and reports are accessible through:

• U.S. Census Bureau: Detailed demographic and economic data.
• City of Orem Open Data Portal: Access to local economic reports and statistics.

Explore Brevitas-powered dashboards for real-time insights and AI-driven analysis of Orem's CRE market.

Why Use Brevitas for Orem, Utah CRE?

Brevitas offers a comprehensive suite of tools for CRE professionals in Orem:

• AI-Driven Discovery: Access to the latest listings and market trends.
• Real-Time Market Alerts: Stay informed about new opportunities.
• Smart Property Pages: Enhance property visibility and engagement.
• Dealroom Collaboration: Streamline transactions and communications.

Unique features include:

• Auto-Generated Listing Pages: Simplify the listing process.
• Email and Landing Page Tools: Enhance marketing efforts.
• Integration with Brokers and Developers: Collaborate efficiently.
• Exclusive Listings and Premium Exposure: Maximize property visibility.

For a tailored CRE experience in Orem, explore Brevitas today.