Sanctuary at Lehi — Lease in Lehi, UT

  • Price: Contact for price
  • Listing type: For lease
  • Asset type: Retail Business
  • Location: Lehi, UT 84043

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Description

Class A Retail For Lease | ±12955 RSF | Lehi, UT Sanctuary offers a variety of penthouse, studio, one-, and two-bedroom luxury apartment homes with easy access to top employers, shopping, dining, and entertainment options. Residents will enjoy a world-class rooftop with a pool, spa, sauna, sports lounge, and fitness center. The community will also feature a library lounge and bar, pickleball and basketball courts, a dog park, and commercial space for grocers and restaurants.

Market Context

This retail in Lehi, UT is listed for lease. Compare it against other retail listings for lease in Lehi, UT — view the full market.

As of Q1 2026, the Salt Lake City retail market showed a 4.1% vacancy rate, average asking rents near $22.61/SF/yr, rents up 0.7% year over year, and cap rates around 6.5%. Source: Marcus & Millichap Q1 2026 market report.

Rising rents point to a competitive market where well-priced, well-located space leases quickly.

Retail market FAQ

What is the typical cap rate for retail in Salt Lake City?
About 6.5% as of Q1 2026, per Marcus & Millichap.
Is the Salt Lake City retail market tightening or softening?
Vacancy is around 4.1%, with asking rents rising year over year (Q1 2026).

Estimated Market Rate

$1.58/SF/mo – $2.22/SF/mo

Mid: $1.89/SF/mo

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