Salt Lake City Industrial Market Report
By CREhunt Research · Data through Q2 2026 · Aggregated from CBRE, JLL, Cushman & Wakefield, Newmark
Quarterly industrial market indicators for Salt Lake City, aggregated by CREhunt from CBRE, JLL, Cushman & Wakefield, Newmark. As of Q2 2026, average asking rent was $9.84/SF/yr and vacancy was 7.2%, per CBRE.
Projected current industrial pricing — Salt Lake City
Modeled estimate (income approach) shown as a range — not an appraisal. No market-specific cap rate is published for Salt Lake City industrial yet, so this applies the typical cap rate across comparable industrial markets — treat it as a rough, indicative range that sharpens as sourced cap rates arrive. Projected asking rent × occupancy × net-operating-income margin band ÷ a benchmark cap rate, from Q2 2026 CBRE asking-rent data (benchmark cap rate 5.5%–7.5%, asking rent held flat). Assumes ~93% occupancy and a 72–88% net-operating-income margin.
| Quarter | Asking rent | Vacancy | Net absorption | Under constr. | Source |
|---|---|---|---|---|---|
| Q2 2026 CBRE | $9.84/SF/yr | 7.2% | 2.8M SF | — | CBRE |
| Q1 2026 JLL | $10.44/SF/yr | 7.7% | 796K SF | — | JLL |
| Q1 2026 CBRE | $9.72/SF/yr | 7.4% | 1.2M SF | — | CBRE |
| Q1 2026 Cushman & Wakefield | $9.60/SF/yr | 7.9% | 61K SF | — | Cushman & Wakefield |
| Q4 2025 Cushman & Wakefield | $9.72/SF/yr | 7.9% | -971K SF | — | Cushman & Wakefield |
| Q4 2025 Newmark | $10.20/SF/yr | 5.6% | — | — | Newmark |
| Q3 2025 Cushman & Wakefield | $9.60/SF/yr | 7.1% | — | — | Cushman & Wakefield |
| Q3 2025 Newmark | $10.44/SF/yr | 5.9% | — | — | Newmark |
| Q2 2025 Cushman & Wakefield | $9.60/SF/yr | 6.2% | 644K SF | — | Cushman & Wakefield |
| Q4 2023 Cushman & Wakefield | $10.13/SF/yr | 10.5% | 10 SF | — | Cushman & Wakefield |
Industrial asking rents by submarket
The newest asking rent a named brokerage's report published for each Salt Lake City industrial submarket, with its publisher and quarter. Submarkets whose newest figure cannot be attributed, or falls outside a plausible range, are left out.
| Submarket | Asking rent | Source |
|---|---|---|
| Airport | $0.68/SF/mo CBRE · Q2 2026 | CBRE, Q2 2026 |
| Bluffdale | $1.04/SF/mo CBRE · Q2 2026 | CBRE, Q2 2026 |
| California Ave | $0.87/SF/mo CBRE · Q2 2026 | CBRE, Q2 2026 |
| Central East | $0.87/SF/mo Cushman & Wakefield · Q1 2026 | Cushman & Wakefield, Q1 2026 |
| Central West | $0.93/SF/mo Cushman & Wakefield · Q1 2026 | Cushman & Wakefield, Q1 2026 |
| Downtown | $0.83/SF/mo CBRE · Q2 2026 | CBRE, Q2 2026 |
| Draper | $1.15/SF/mo CBRE · Q2 2026 | CBRE, Q2 2026 |
| Murray | $0.71/SF/mo CBRE · Q2 2026 | CBRE, Q2 2026 |
| Northeast | $0.84/SF/mo CBRE · Q2 2026 | CBRE, Q2 2026 |
| Northwest | $0.78/SF/mo CBRE · Q2 2026 | CBRE, Q2 2026 |
| Sandy | $1.04/SF/mo CBRE · Q2 2026 | CBRE, Q2 2026 |
| South | $0.96/SF/mo CBRE · Q2 2026 | CBRE, Q2 2026 |
| South East | $1.20/SF/mo Cushman & Wakefield · Q4 2025 | Cushman & Wakefield, Q4 2025 |
| South Salt Lake | $0.92/SF/mo CBRE · Q2 2026 | CBRE, Q2 2026 |
| South West | $1.05/SF/mo Cushman & Wakefield · Q1 2026 | Cushman & Wakefield, Q1 2026 |
| West Jordan | $0.93/SF/mo CBRE · Q2 2026 | CBRE, Q2 2026 |
| West Valley | $0.80/SF/mo CBRE · Q2 2026 | CBRE, Q2 2026 |
How the brokerage sources compare
For Q1 2026, the brokerages CREhunt aggregates for Salt Lake City industrial did not fully agree. On vacancy, the sources span 0.5 points — from 7.4% (CBRE) to 7.9% (Cushman & Wakefield). Asking-rent estimates differ by $0.84/SF/yr — from $9.60/SF/yr to $10.44/SF/yr. CREhunt reconciles these into a single consensus median rather than relying on any one brokerage.
| Source | Vacancy | Asking rent | Cap rate |
|---|---|---|---|
| CBRE | 7.4% | $9.72/SF/yr | — |
| JLL | 7.7% | $10.44/SF/yr | — |
| Cushman & Wakefield | 7.9% | $9.60/SF/yr | — |
Per-brokerage figures for Q1 2026, aggregated from published brokerage market reports.
Frequently asked questions
- What is the average asking rent for industrial space in Salt Lake City?
- As of Q2 2026, the average asking rent for industrial space in Salt Lake City was $9.84/SF/yr, per CBRE.
- What is the industrial vacancy rate in Salt Lake City?
- The industrial vacancy rate in Salt Lake City was 7.2% as of Q2 2026 (CBRE).
- Where does CREhunt's Salt Lake City market data come from?
- This report aggregates quarterly industrial market data for Salt Lake City from CBRE, JLL, Cushman & Wakefield, Newmark.
- How much do brokerage estimates differ for industrial space in Salt Lake City?
- For Q1 2026, the brokerage sources CREhunt aggregates for Salt Lake City did not fully agree. On vacancy, the sources span 0.5 points — from 7.4% (CBRE) to 7.9% (Cushman & Wakefield). Asking-rent estimates differ by $0.84/SF/yr — from $9.60/SF/yr to $10.44/SF/yr. CREhunt reconciles these into a single consensus median rather than relying on any one brokerage.