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Salt Lake City, UT Commercial Real Estate

170 Commercial Properties Available in Salt Lake City, UT

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    3750 South State Street, South Salt Lake, Salt Lake City, UT 84115
    For Lease Contact leasing agent for details
    Property
    • Retail
    Availability
    • 2 Spaces
    • 9,200 Sqft
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    5505 South 900 East, Murray, Salt Lake City, UT 84117
    For Lease 3133.30
    Property
    • Office
    Availability Contact for availability
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    5278 Pinemont Drive, Murray, UT 84123
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    Property
    • Office
    Availability Contact for availability
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    175 South Main Street, Downtown Salt Lake City, Salt Lake City, UT 84111
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    Property
    • Office
    Availability Contact for availability
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    4885 South 900 East, Murray, Salt Lake City, UT 84117
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    Property
    • Office
    Availability Contact for availability
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    5250 South 320 West, Murray, UT 84107
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    Property
    • Office
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    2890 East Cottonwood Pkwy, Cottonwood Heights, UT 84121
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    Property
    • Office
    Availability Contact for availability
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    5199 South Green Street, Murray, Salt Lake City, UT 84123
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    Property
    • Office
    Availability Contact for availability
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    515 East 4500 South, Murray, Salt Lake City, UT 84107
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    Property
    • Office
    Availability Contact for availability
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    3802 South 700 East, South Salt Lake, Salt Lake City, UT 84106
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    Property
    • Office
    Availability Contact for availability
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    1245 East Brickyard Road, Sugar House, Salt Lake City, UT 84106
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    Property
    • Office
    Availability Contact for availability
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    1250 East 3900 South, Millcreek, Salt Lake City, UT 84124
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    Property
    • Office
    Availability Contact for availability
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    5280 South Commerce Drive, Murray, UT 84107
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    Property
    • Office
    Availability Contact for availability
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    6415 South 3000 East, Holladay, Salt Lake City, UT 84121
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    Property
    • Office
    Availability Contact for availability
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    2040 East Murray Holladay Road, Holladay, UT 84117
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    Property
    • Office
    Availability Contact for availability
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    4393 South Riverboat Road, Taylorsville, Salt Lake City, UT 84123
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    Property
    • Office
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    5202 West Douglas Corrigan Way, Jordan Meadows, Salt Lake City, UT 84116
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    Property
    • Office
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    960 West Levoy Drive, Taylorsville, Salt Lake City, UT 84123
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    Property
    • Office
    Availability Contact for availability
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    756 East Winchester South, Murray, UT 84107
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    Property
    • Office
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    222 South Main Street, Downtown Salt Lake City, Salt Lake City, UT 84101
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    Property
    • Office
    Availability Contact for availability
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    6440 South Millrock Drive, Holladay, UT 84121
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    Property
    • Office
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    3165 East Millrock Drive, Holladay, UT 84121
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    Property
    • Office
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    6510 South Millrock Drive, Holladay, UT 84121
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    Property
    • Office
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    215 South State Street, Central City, Salt Lake City, UT 84111
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    Property
    • Office
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    670 East 3900 South, Murray, Salt Lake City, UT 84107
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    • Office
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Salt Lake City, UT Economic Overview

Location Photo

Salt Lake City was ranked 10th-best place to live by U.S. News, which analyzed 100 metro areas in the U.S., based on quality of life, value of living there and people’s desire to live there. Certainly, the strong economic conditions of this city contributed to its score of 7.1 out of 10 in this ranking.

In 2016, Utah added jobs at more than double the pace of the national average. Although 2017 growth is expected to be more moderate, Utah is likely to remain a top performer. Spending power is a key contributor to business sales and growth, and Salt Lake City residents average an annual salary of $44,752. The greatest average spending for citizens was on housing (33.8% of expenditure), transportation (15.7% of expenditure), and food (12.7% of expenditure).

Salt Lake City, UT Commercial Real Estate Market

The overall Utah State’s economy experienced expansion in 2016, across all major industrial sectors. Salt Lake City’s current service-oriented economy is radically different from its historical beginnings as the “Crossroads of the West", economically reliant on its railroad and nearby steel, mining and oil refineries. The current major sectors are trade, utilities, government, transportation, and professional and business services.

In 2016, the Salt Lake City commercial real estate market experienced record rents for office spaces. The average rent for a Salt Lake City office space was $23 per square foot, which is 4.6% higher than the rate in the first quarter of 2015. Trophy office towers like the brand new Class A 111 Main, commanded roughly $28 per square foot. However, the commercial space lease rates are showing signs of moderation, especially in the high-growth markets.

Poplar Grove, a neighborhood directly south of Salt Lake International Airport, has many great schools and is mainly home to working class families; Downtown Salt Lake City is a bustling scene full of shops, restaurants and nightlife hotspots; Central City is a college town with a range of restaurants, mountain, hiking and biking spots, shops and museums.

Salt Lake City is also a great jumping-off point for national park visits and skiing. Thousands of international and domestic travelers come through the metro area's international airport. This makes tourism and hospitality part of the city’s growing industries.

Being a strong economic hub, the city hosts Huntsman Corporation, a Fortune 500 company, as well as two Fortune 1000 companies: Questar Corporation and Zions Bancorporation. Numerous other high profile firms have made the city the economic powerhouse it is, including: AlphaGraphics, Smith's Food and Drug, Sinclair Oil Corporation, MonaVie, Vehix.com, and Myriad Genetics.

And with companies like Adobe Systems, Microsoft and 3M Health Information Systems moving in, job opportunities are still on the rise. This follows a commendable growth in employment that has lasted over the past few years.

Salt Lake City, Office Sales Volume

Data provided by Yardi Matrix, for properties larger than 50K SF, which sold at over $5M.

Salt Lake City, Office Transactions

Data provided by Yardi Matrix, for properties larger than 50K SF, which sold at over $5M.

Salt Lake City, UT Commercial Inventory Breakdown

Office Spaces

Total: 28,351,639 SF

Data provided by Yardi Matrix, properties over 50k SF, includes office with retail

By square footage range:

  • 50k to 100k SF: 6,881,563 SF / 24.27% of total office
  • 100k to 500k SF: 19,964,788 SF / 70.42% of total office
  • 500k to 1M SF: 1,505,288 SF / 5.31% of total office

By class:

  • Class A: 11,563,137 SF / 40.78% of total office
  • Class B: 13,610,536 SF / 48.01% of total office
  • Class C: 331,688 SF / 1.17% of total office

Industrial

Total: 319,070 SF

Data provided by Yardi Matrix, properties over 50k SF

By square footage range:

  • 100k to 500k SF: 319,070 SF / 100% of total industrial

Employment in Salt Lake City, UT

Employment

Salt Lake City has a 3.3% unemployment rate, which is 1.6% lower than the national average. This makes it an attractive location for qualified workers.

The key employment industries within the city feature technology, utilities, trade, transportation, health care, education, manufacturing, and finance.

Specific industries offer the most common employment opportunities:

  • Health care and social assistance – this sector employs roughly 62,004 regional residents, through University Health Care, having 10,000 employees, and University of Utah Health Care employing 7,866 workers. Here, such occupations as nursing aides offer a salary range between $21k and $30k;
  • Specialty trade contractors – 48,104 total employees in this sector, including such employers as Sun Products Corp with 3,000 workers;
  • Finance and insurance – Approximately 38,384 employees are found within the financial sector.

The largest employers in the region include the state and county government, the University of Utah, Intermountain Healthcare, Delta Air Lines and Novus Credit Services. Other industries that are currently expanding are construction and manufacturing.

Education in Salt Lake City, UT

Salt Lake City is home to several high-profile learning institutions, with seventeen high schools being recognized on U.S. News & World Report's Best High Schools rankings. Also, two of the city’s six colleges and universities earned places on U.S. News & World Report's Best Colleges rankings.

Commuting Time in Salt Lake City, UT

Salt Lake City’s 22.3 minutes average commute time is slightly below the U.S. average of 24.8 minutes.

Traffic is eased by complementing light rail trains and buses, which are operated seven days a week by the Utah Transit Authority. The Frontrunner train runs through Salt Lake City (between Ogden and Provo), a total of 88 miles. Its stations also have free parking, apart from being within walking distance of popular shopping districts.

There’s also a TRAX train, covering a sizable area of Salt Lake Valley, with stops in downtown Salt Lake City and the Salt Lake City International Airport.

The metro area has protected bike lanes, although many residents living outside the city center drive to and from downtown (the driving population is 88%).

Salt Lake City Demographics

Population

  • Total Population190,679
  • Male Population(51.7 %) 98,491
  • Female Population(48.3 %) 92,188
  • Median Age31.50

Income/Financial

  • Average Household Income$72,922
  • Median Household Income$47,243
  • Median Income Under 25$25,967
  • Median Income 25-44$51,809
  • Median Income 45-64$59,975
  • Median Income Over 65$35,692

CommercialCafé is your first and only stop when it comes to commercial real estate leasings in Salt Lake City, UT. Search through our extensive selection of commercial properties for lease with current space availability in the area ranging between 9200 square feet and 9200 square feet. Discover the right property from our 170 listings by using our advanced search function, which includes search by property type, space availability, management company, lease rates, and more.