Orem, Utah, is an ideal location for a Retail Space For Lease, offering a unique blend of small-town charm and big-city amenities. With a population of around 98,000, Orem provides a diverse demographic composition, making it an attractive location for businesses. The city's proximity to Utah Valley University, Utah Lake, and the Mount Timpanogos/Wasatch Mountain range creates a picturesque setting that attracts visitors and residents alike. Orem's infrastructure is well-developed, with the Frontrunner train, Utah Valley Express (UVX) bus rapid transit, and regular bus services providing easy access to the city. Additionally, major roads like Interstate 15, US Highway 89, and US Highway 189 ensure convenient connectivity to surrounding areas. Notable companies like Blendtec, Bluehost, and Novell have already established themselves in Orem, contributing to the city's economic growth.
Orem's Retail Space For Lease market offers a range of opportunities, with 19 listings available. The average annual rent per square foot is $25 USD, with sizes ranging from 964 square feet to 11,000 square feet. In addition to Retail Space, Orem also offers a variety of other property types, including Restaurants, with their unique dining experiences, Medical Offices, providing essential healthcare services, and Office Space, catering to the city's growing business community. With its diverse economy, beautiful scenery, and convenient location, Orem is an excellent choice for businesses looking to establish themselves in the area.
What is the average cost per square foot for retail space in Orem?
The average cost per square foot for retail space in Orem is $25 USD per square foot, with available listings totaling 19 and average space sizes ranging from 2,814 square feet to 11,000 square feet.
How do anchor tenants affect surrounding retail space leases?
Anchor tenants, such as department stores or grocery stores, can significantly impact surrounding retail space leases in Orem, Utah, as they attract a high volume of foot traffic, increasing the desirability of nearby retail spaces, which can lead to higher lease rates and a more competitive market, with currently 19 available listings, averaging $25 USD per square foot, and ranging in size from 2,814 square feet to 11,000 square feet.
