Salt Lake City, UT Office Overview
The Salt Lake City Metropolitan Area includes the Glendale, Millcreek, and Sugar House submarkets. With a population of nearly 1.2 million, the city has transformed itself from a religious center to one of the primary transportation and banking hubs in the Western U.S.
As of mid-2017, the market encompasses over 21 million square feet of existing office space in properties larger than 50,000 square feet. As the state capital and Utah’s most-populous city, office space sees robust demand from a variety of sectors, including government, education, and technology.
Salt Lake City, UT Office Inventory Description
Known as the 'Crossroads of the West' for its excellent access to rail transport, interstate, and air service, Salt Lake City's strong business base includes many transportation and logistics companies. With an annual gross metropolitan product of nearly $75 billion, the demand for employment continues to be strong. Just over 40% of the office space in Salt Lake City is Class A, while Class B accounts for almost 60%.
Downtown Salt Lake City sees a strong demand for office space. Located east of I-15 along University Boulevard, this area is home to prominent buildings such as Wells Fargo Center, 222 South Main Street, and One Utah Center.
Salt Lake City, UT Commercial Inventory Breakdown
Office Spaces
Total: 32,112,962 SF
By square footage range:
- 50k to 100k SF: 8,916,074 SF / 27.76% of total office
- 100k to 500k SF: 22,604,230 SF / 70.39% of total office
- 500k to 1M SF: 592,658 SF / 1.85% of total office
By class:
- Class A: 14,757,411 SF / 45.95% of total office
- Class B: 15,231,282 SF / 47.43% of total office
- Class C: 559,079 SF / 1.74% of total office
Top 10 Largest Office Buildings
in Salt Lake City
| Office building | Address | Sqft | Year built |
|---|---|---|---|
| Wells Fargo Center | 299 South Main Street, 84111 | 592,658 | 1997 |
| 95 State @ City Creek | 95 S. State St., 84111 | 515,000 | 2021 |
| O.C. Tanner World Headquarters | 1930 South State Street, 84115 | 452,139 | 1995 |
| 111 Main | 111 South Main Street, 84111 | 442,000 | 2016 |
| World Trade Center | 60 East South Temple, 84111 | 435,982 | 1986 |
| 222 South Main Street | 222 South Main Street, 84101 | 435,657 | 2009 |
| 222 South Main Street | 222 South Main Street, 84101 | 435,657 | 2009 |
| One Utah Center | 201 South Main Street, 84111 | 420,000 | 1991 |
| One Utah Center | 201 S Main St, 84111 | 419,000 | 1991 |
| University of Utah Research Park - ARUP Corporate Campus | 546 Chipeta Way, 84108 | 419,000 | 1997 |
Largest Office Properties Recently Completed
in Salt Lake City
| Office building | Address | Sqft | Year built |
|---|---|---|---|
| South City - Building I | 2200 South Main Street, 84115 | 150,000 | 2021 |
| Center 53 - Building 2 | 434 West Ascension Way, 84123 | 109,287 | 2021 |
| Canyon Centre Office Building | 7367 Canyon Centre Pkwy, 84121 | 81,018 | 2021 |
| 60 Park | 2290 South 1300 East, 84106 | 143,374 | 2020 |
| Sugar House Health Center | 1280 East Stringham Avenue, 84106 | 174,000 | 2019 |
| 5101 South Commerce Drive | 5101 South Commerce Drive, 84107 | 88,000 | 2018 |
| University of Utah Research Park - Huntsman Cancer Institute South | 2000 Circle of Hope Drive, 84103 | 230,000 | 2017 |
| Center 53 | 434 West Ascension Way, 84123 | 199,320 | 2017 |
| 3702 South State Street | 3702 South State Street, 84115 | 53,276 | 2017 |
| 111 Main | 111 South Main Street, 84111 | 442,000 | 2016 |
Salt Lake City, UT Green Office Space
One of the best examples of a green building is the 111 Main office building. Located downtown, this 442,000-square-foot Class A property was constructed in 2016 and is LEED-Certified Gold.
Every year, the National Green Building Adoption Index is published. The 2017 edition surveyed the top 30 office markets in the U.S. that are certified as green and energy-efficient by USGBC LEED or the EPA Energy Star rating system. Since 2005, the percentage of green office property has increased from below 5% to 38% at mid-year 2017.
While Salt Lake City isn't in the top 30 ranking, with 31 LEED-Certified projects, developers are meeting the demands from both tenants and investors for energy-efficient green office space.
Salt Lake City, UT's Top Office-Using Sectors
Salt Lake City is home to a variety of businesses and industries. Among the top are financial services, high tech, education, religion, and large corporate offices.
- Financial Services – UBS, Merrill Lynch, Morgan Stanley, Fidelity Investments, and Berkshire Hathaway.
- High Technology – eBay, Unisys, Siebel, Iomega, Tesla, and 3M.
- Education & Religion – The Church of Jesus Christ of Latter-day Saints and the University of Utah.
- Corporate Offices – Huntsman Corporation, Zions Bancorporation, Questar Corporation, and AlphaGraphics.
Frequently Asked Questions
How much does office space cost in Salt Lake City, UT?
The average office rental rate in Salt Lake City, UT is $21.08 per square foot. Asking prices vary based on the property’s location, overall rating, amenities, proximity to restaurants, cafes and entertainment venues, as well as public transport, airports and highways. Check Salt Lake City Office Market Trends for more stats.
What is the size of available office spaces in Salt Lake City, UT?
The Salt Lake City, UT office market can accommodate various businesses, sporting a range of office space availabilities. The average size of office space availabilities is 160,011 square feet. If you’re just starting out as a company or as an entrepreneur, the smallest available office space in Salt Lake City, UT is 22 square feet, while the maximum rentable space on the market now is 320,000 square feet.
How do I get office space in Salt Lake City, UT?
Start your search for office space in Salt Lake City, UT by using our filters that allow you to find the best space for your business needs. Filter listings by location, property size, available space or lease rate. Property pages will offer details about an office building’s rating, year built, availabilities, price per square foot and more. After drawing up a shortlist, make sure you contact the listed broker(s) to schedule a viewing and begin the negotiation process for your lease contract.
How many office listings are available in Salt Lake City, UT?
There are 566 office listings on the Salt Lake City, UT market. See all available office spaces for rent.
Where to rent an office space in Salt Lake City, UT?
Popular Salt Lake City neighbourhoods with available office spaces include Downtown Salt Lake City, Central City and University Of Utah.
What other property types are available for lease in Salt Lake City, UT?
In addition to traditional office spaces, commercial real estate listings on our platform also include coworking & shared office space options, retail spaces, industrial buildings, warehouses, distribution facilities, and more.
Salt Lake City Demographics
Population
- Total Population197,756
- Male Population(50.9 %) 100,748
- Female Population(49.1 %) 97,008
- Median Age32.30
Income/Financial
- Average Household Income$88,128
- Median Household Income$60,676
- Median Income Under 25$30,707
- Median Income 25-44$66,859
- Median Income 45-64$68,670
- Median Income Over 65$47,629