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Commercial Real Estate in Salt Lake City, UT - 479 Properties Available

  • Oakbrook - Salt Lake City
    670 East 3900 South, Murray, Salt Lake City, UT 84107
    For Lease $14/Sqft/Year
    Property
    • Office
    Availability
    • 12 Spaces
    • 37,726 Sqft
  • Rocky Mountain Eye Center - Salt Lake City
    4400 South 700 East, Murray, Salt Lake City, UT 84107
    For Lease $14 - $19/Sqft/Year
    Property
    • Office
    Availability
    • 2 Spaces
    • 8,326 Sqft
  • The Clift Building - Salt Lake City
    10 West Broadway, Downtown Salt Lake City, Salt Lake City, UT 84101
    For Lease $19 - $30/Sqft/Year
    Property
    • Office
    Availability
    • 2 Spaces
    • 4,044 Sqft
  • Parkside Tower - Salt Lake City
    215 South State Street, Central City, Salt Lake City, UT 84111
    For Lease $22.5 - $26.5/Sqft/Year
    Property
    • Office
    Availability
    • 6 Spaces
    • 21,984 Sqft
  • Jefferson Mansion - Murray
    141 E 5600 S, Murray, UT 84107
    For Lease $11/Sqft/Year
    Property
    • Office
    Availability
    • 7 Spaces
    • 10,816 Sqft
  • Sorenson Research Park 12 - Salt Lake City
    4393 South Riverboat Road, Taylorsville, Salt Lake City, UT 84123
    For Lease $21/Sqft/Year
    Property
    • Office
    Availability
    • 1 Space
    • 4,878 Sqft
  • Felt Building - Salt Lake City
    341 South Main Street, Downtown Salt Lake City, Salt Lake City, UT 84111
    For Lease $20 - $32/Sqft/Year
    Property
    • Office
    Availability
    • 3 Spaces
    • 19,805 Sqft
  • South Temple Tower - Salt Lake City
    136 E South Temple St, Central City, Salt Lake City, UT 84111
    For Lease $27 - $28.5/Sqft/Year
    Property
    • Office
    Availability
    • 10 Spaces
    • 68,049 Sqft
  • 5450 South Green Street - Murray
    5450 South Green Street, Murray, UT 84123
    For Lease $19.5/Sqft/Year
    Property
    • Office
    Availability
    • 1 Space
    • 11,150 Sqft
  • U.S. Bank Building - Salt Lake City
    170 S Main St, Downtown Salt Lake City, Salt Lake City, UT 84101
    For Lease $27 - $32/Sqft/Year
    Property
    • Office
    Availability
    • 5 Spaces
    • 13,996 Sqft
  • Edgewater Corporate Park - South Tower - Salt Lake City
    5225 Wiley Post Way, Jordan Meadows, Salt Lake City, UT 84116
    For Lease $23/Sqft/Year
    Property
    • Office
    Availability
    • 1 Space
    • 4,694 Sqft
  • Brain Trace Building - Salt Lake City
    220 South 200 East, Central City, Salt Lake City, UT 84111
    For Lease $17.5/Sqft/Year
    Property
    • Office
    Availability
    • 2 Spaces
    • 11,600 Sqft
  • 265 East 100 South - Salt Lake City
    265 East 100 South, Central City, Salt Lake City, UT 84111
    For Lease $19.5/Sqft/Year
    Property
    • Office
    Availability
    • 2 Spaces
    • 12,761 Sqft
  • Cottonwood Corporate 9 - Cottonwood Heights
    2795 E Cottonwood Pkwy, Cottonwood Heights, UT 84121
    For Lease $32 - $34/Sqft/Year
    Property
    • Office
    Availability
    • 5 Spaces
    • 50,691 Sqft
  • The Kearns Building - Salt Lake City
    136 South Main Street, Downtown Salt Lake City, Salt Lake City, UT 84101
    For Lease $24 - $25/Sqft/Year
    Property
    • Office
    Availability
    • 9 Spaces
    • 52,188 Sqft
  • Airport Business Park Building 236 - Salt Lake City
    236 N 2200 W, Westpointe, Salt Lake City, UT 84116
    For Sale $3,250,000
    Property
    • Industrial
  • Graystone Health and Professional Center - Salt Lake City
    1174 East Graystone Way, Sugar House, Salt Lake City, UT 84106
    For Lease $14/Sqft/Year
    Property
    • Office
    Availability
    • 1 Space
    • 13,000 Sqft
  • Cottonwood Creek Center - Murray
    5965 South 900 East, Murray, UT 84121
    For Lease $22/Sqft/Year
    Property
    • Office
    Availability
    • 2 Spaces
    • 2,958 Sqft
  • 376 East 400 South - Salt Lake City
    376 East 400 South, Central City, Salt Lake City, UT 84111
    For Lease $21.5/Sqft/Year
    Property
    • Office
    Availability
    • 1 Space
    • 4,382 Sqft
  • Ninigret - Building XI - Salt Lake City
    4750 West 2100 South, Glendale, Salt Lake City, UT 84120
    For Lease $21/Sqft/Year
    Property
    • Office
    Availability
    • 1 Space
    • 26,373 Sqft
  • Plaza 2000 - Cottonwood Heights
    7138 S Highland Dr, Cottonwood Heights, UT 84047
    For Lease $22.4/Sqft/Year
    Property
    • Office
    Availability
    • 5 Spaces
    • 6,296 Sqft
  • 4568 South Highland Drive - Salt Lake City
    4568 South Highland Drive, Millcreek, Salt Lake City, UT 84117
    For Lease $12 - $13/Sqft/Year
    Property
    • Office
    Availability
    • 4 Spaces
    • 7,905 Sqft
  • 101 Tower - Salt Lake City
    101 S 200 E, Central City, Salt Lake City, UT 84111
    For Lease $22/Sqft/Year
    Property
    • Office
    Availability
    • 1 Space
    • 3,936 Sqft
  • 308 East 4500 South - Murray
    308 East 4500 South, Murray, UT 84107
    For Lease $18/Sqft/Year
    Property
    • Office
    Availability
    • 1 Space
    • 4,592 Sqft
  • Independence Square - Independence Hall - Murray
    111 E 5600 S, Murray, UT 84107
    For Lease $11/Sqft/Year
    Property
    • Office
    Availability
    • 4 Spaces
    • 5,115 Sqft

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, UT Office Sales Volume

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

Salt Lake City, UT 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: 30,026,528 SF

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

By square footage range:

  • 50k to 100k SF: 8,238,947 SF / 27.44% of total office
  • 100k to 500k SF: 21,194,923 SF / 70.59% of total office
  • 500k to 1M SF: 592,658 SF / 1.97% of total office

By class:

  • Class A: 13,719,891 SF / 45.69% of total office
  • Class B: 14,368,024 SF / 47.85% of total office
  • Class C: 537,613 SF / 1.79% of total office

Industrial

Total: 2,012,041 SF

Data provided by Yardi Matrix, properties over 50k SF

By square footage range:

  • 50k to 100k SF: 348,544 SF / 17.32% of total industrial
  • 100k to 500k SF: 1,663,497 SF / 82.68% 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 Population195,701
  • Male Population(51.4 %) 100,612
  • Female Population(48.6 %) 95,089
  • Median Age32.00

Income/Financial

  • Average Household Income$83,449
  • Median Household Income$56,370
  • Median Income Under 25$29,614
  • Median Income 25-44$63,476
  • Median Income 45-64$65,210
  • Median Income Over 65$43,993

News

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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 2958 square feet and 68049 square feet. Discover the right property from our 479 listings by using our advanced search function, which includes search by property type, space availability, management company, lease rates, and more.