Salt Lake City has emerged as a major tech hub—known as the "Silicon Slopes"—with rapidly growing commercial real estate. The Lehi/Draper tech corridor and downtown SLC are most active. Utah is a business-friendly state with strong population and economic growth.
By Angel Campa, Founder · Updated March 2026
Commercial Space
50M sq ft
Avg Office Rent
$22–$38/sq ft
Vacancy Rate
18%
Avg Lease Term
5–10 years
Silicon Slopes tech office leases are NNN or Modified Gross. Industrial in West Valley City is NNN. The market's rapid growth means landlords often have leverage, making CAM cap and audit right negotiation especially important.
Utah Landlord–Tenant Guide
State-specific commercial lease laws, notice periods, and tenant rights for Utah →
The Lehi/Draper tech corridor has seen significant rent growth and tight vacancy. Landlords have leverage, making it important for tenants to negotiate and carefully abstract CAM caps, audit rights, and assignment provisions.
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