Industrial purchases in this valley run from $200K Warehouse Condos to $10M+ Industrial Parks, and most of the small end goes to owner-users buying the building their business already runs in. This page covers how those purchases actually work here, how to read an asking price, and what our recent sales looked like from the inside.
Two kinds of buyer compete for industrial product in the Salt Lake Valley, and they price the same building differently. Owner-users buy because the building fits the operation: location, size, loading, clear height, room to grow. They compare an asking price against what they would pay in rent over the next decade, and they will pay for the right fit. Investors solve a spreadsheet instead, and walk when the return stops working.
At the small end, under roughly 25,000 SF, the owner-user usually wins. That is the size band where SBA financing works, where the buyer pool is deepest, and where a building trades because somebody wants to move into it.
Buying beats leasing when three things are true: you will be in the same footprint five years or more, your space needs are stable, and the business can carry the payment through a slow quarter. If any of those is shaky, the right answer is a lease with good options. You can browse current lease availability or run the numbers on the cost of warehouse space before you decide.
On financing, most owner-user purchases here run through the SBA 504 program, which lets a business buy without draining working capital. The structure and the owner-occupancy rule are covered in our owner-user buying guide. Rates and program terms move, so talk to your lender or a CDC about what you qualify for. Get that conversation done before you tour, because a pre-qualified buyer beats a bigger budget that shows up disorganized.
An asking price is a seller's opinion. It is where a negotiation starts, and on industrial product in this valley it is frequently set off a number the owner heard about a different building. Your job before you offer is to work out what the building is worth to you, which is a different question.
Price per square foot is the number everyone reaches for and the one that misleads most. It flattens the things that actually drive industrial value: usable clear height, how the bay demises, power at the panel, dock versus grade-level loading, office finish you do or do not need, yard, parking ratio, and the age of the roof and the HVAC. Two buildings at the same price per foot can be a fair deal and a bad one. We do not publish a valley-wide per-foot figure on this page for the same reason: it moves, and a stale number is worse than no number.
Underwrite it this way instead. Start from closed sales of genuinely comparable buildings, not asking prices on active listings. Add what you will have to spend in year one to make the building work for your operation, because deferred maintenance is part of the purchase price whether the seller calls it that or not. Then compare the resulting payment against what leasing the same capability would cost you over your real holding period. If the building only works at the asking price when every assumption breaks your way, it does not work.
We will run that math with you on a specific building, including the parts that argue against buying it.
A selection of industrial sales our team has closed in the valley, and what made each one work. Not a complete list.
12,594 SF in Sandy
12,594 SF warehouse in Sandy, bought off-market by an owner-user who needed the whole building. Three tenants were in place: our buyer signed a lease pre-closing for early access, Derek helped the other two ease out into new units, and we subleased the buyer's old space up the road to cover the term they had left. Under contract to closed in 32 days. Derek represented the seller; Colter brought the buyer.
Read the full case study
92,500 SF in Sandy
92,500 SF across five buildings at Sandy Industrial Park, sold in the winter of 2023. We brought the buyer ourselves, with three groups competing for the asset, and ownership engaged us the day the deal closed to lease it up: 21 of 22 vacant units signed inside 90 days. The park runs at 98% occupancy today.
Read the full case study
9,950 SF in Salt Lake City
9,950 SF warehouse with a fenced yard in Salt Lake City, bought by a longtime client. One of the two inherited tenants vacated, so we leased that space at a premium to help carry the debt while our client built out, leased the yard for two years, and then sold their former building on 1400 West once they'd moved. The yard is now member parking. Buy, lease, sell: one client, every side of the deal.
17,636 SF in West Jordan
17,636 SF warehouse in West Jordan. The buyer was the neighbor next door, already an owner rather than a tenant, and they needed room to expand. We found them ourselves and structured the sale so ownership received most of their money at closing and got their full asking price, while the buyer put what would have been a down payment back into the building. Our team represented the seller.
7,300 SF in Bluffdale
7,300 SF flex condo in Bluffdale, 2020 build. Our buyer was putting real money into retrofitting the space, so instead of a down payment and construction costs landing in the same month, we structured a lease with an option to purchase. That spread the outlay over most of a year while they built the space to spec. We represented the buyer.
3,700 SF in Bluffdale
3,700 SF flex condo in Bluffdale. The owner sold his company, the new operator signed a long-term lease, and we then sold the building as a stabilized investment rather than an empty one. Two paydays from one exit, in the right order. We represented the seller.
An industrial condo, sometimes called a shop condo, is a single unit inside a multi-unit building that you own outright rather than lease, with the common areas, roof, and parking handled through an owners association and a monthly fee. Think 1,200 to 5,000 SF, a grade-level door, a small office, and a shared drive.
They are the cheapest way into ownership in this valley, which is why the bottom of the $200K Warehouse Condos to $10M+ Industrial Parks range is almost entirely condos. The buyers are contractors, service businesses, distributors, and owner-operators graduating out of a storage unit or a garage, plus a steady number of investors who like small-bay tenancy.
Two things to check that do not come up on a standalone building. Read the association documents before you go firm, because the monthly fee, the reserve balance, and the rules on outdoor storage and signage vary a lot between projects. And confirm your use is permitted by both the municipality and the association, not just one of them. Our 2026 Bluffdale sale in the strip above was exactly this kind of building.
The best owner-user buildings in this valley regularly trade off-market, owner to owner, before a sign ever goes up. Being on our call list beats refreshing the portals. Send us your size, submarket, and budget, and we will tell you what is realistic and call you when something fits.
Looking by area? Every corridor we cover has its own page under Salt Lake Valley submarkets.
