JLL arranges sale of fully leased Salt Lake City industrial facility

SALT LAKE CITY, Nov. 9, 2026 - JLL Capital Markets announced the sale of a 325,215-square-foot Class A industrial facility at 5270 W. John Cannon Drive in Salt Lake City's Northwest Quadrant submarket to an Ares Real Estate fund. The transaction, completed in October 2026, reflects continued institutional demand for premier industrial assets in the region and reinforces the strength of Utah's industrial investment market.

Marq Logistics, Ares Real Estate's vertically integrated global logistics real estate platform and a leader in the development and operation of modern logistics facilities, will manage the property.

Completed in 2022, the institutional-quality facility is 100% leased through February 2033 on a triple-net basis and serves as a mission-critical distribution facility for a home furnishings and lifestyle retailer. The building features modern Class A specifications, including a 36-foot clear height, 89 dock-high doors, a cross-dock configuration, ESFR sprinkler system, LED lighting throughout and a full-perimeter truck court with 82 trailer parking stalls. Additional site improvements include 354 automobile parking spaces and expansive loading capabilities designed to support high-volume logistics and distribution operations.

Strategically positioned within Salt Lake City's Northwest Quadrant, the facility offers immediate access to Interstate 80, Interstate 215 and the broader regional transportation network. The property is located approximately five miles from Salt Lake City International Airport and provides efficient connectivity throughout the Intermountain West. The Northwest Quadrant remains one of the region's most established industrial corridors, benefiting from limited development opportunities, strong tenant demand and its role as a key distribution hub serving western U.S. markets.

The sale comes as JLL continues to market additional institutional industrial opportunities across Utah, including Scannell Properties' approximately 630,000-square-foot Class A distribution facility in Provo. Together, the assignments highlight continued capital interest in well-located logistics assets throughout the Wasatch Front and broader Intermountain West.

The JLL Capital Markets team was led by Managing Director Todd Torok. The team has grown to now include Julia Radu, Jeff Pew and Rex Buys, who are continuing to add depth of coverage from Salt Lake City to Boise and Reno to meet client demands.

"This transaction reflects the depth of institutional demand for high-quality industrial product in Salt Lake City and the continued evolution of the market as a destination for long-term investment," said Torok. "The level of investor engagement throughout the process underscores the importance of having a dedicated local team focused on serving investors and owners across the region. It also highlights the premium today's sellers continue to place on certainty of execution, particularly in competitive institutional transactions."

JLL's Capital Markets group is a full-service global provider of capital solutions for real estate investors and occupiers. The group's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients, including investment sales and advisory, debt advisory, M&A and corporate finance, loan sales, equity & fund placement, net lease, derivative advisory and energy & infrastructure advisory. The group has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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