Small Biz Gets Creative in Office Space Crunch

None by KCPW

(KCPW News) Office space will get even tighter downtown until the LDS Church completes its development plans. That's forcing small businesses to get creative - with many looking to share space with other entrepreneurs. Commerce CRG broker Mike Richmond says executive suites that offer furnished space, conference room access and reception service are nearly filled to capacity in Salt Lake City.

Entrepreneur Debbie Stone is looking for officemates to share a converted home in the 9th and 9th area. She says the more expensive, often homogenous space downtown is less attractive to small companies.

Commerce CRG estimates high quality office space availability is down to a slim 1-point-3 percent downtown. Richmond adds that as the market for space gets tighter, small companies are at the mercy of landlords who may evict them for bigger tenants and longer leases.

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