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5/27/25
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Steel Peak has purchased an industrial outdoor storage (IOS) property in Salt Lake City, UT for $7.6 mil. The property is located at 1876 W. Fortune Rd, north of California Ave and east of I-15.
The property consists of two warehouse structures totaling 31.5k sf of space on 5.37 acres. Steel Peak plans to improve the functionality of this site and stabilize it by leasing it to a long-term tenant who needs yard and warehouse space.
1876 W. Fortune Rd is ideally located in the Northwest Industrial Submarket of Salt Lake City just minutes from I-215, a crucial transport link that provides connectivity to the main industrial corridor of the market along with major interstate highways (I-15, I-80, and I-70). The zoning allows for various industrial uses, including outdoor storage, commercial parking, contractor yards, heavy equipment, tire distribution/retail, truck freight terminals, auto and truck repair, industrial services and sales, and railroad repair/rail freight terminals.
This marks the Steel Peak’s first IOS acquisition in the Salt Lake City market. The company, which was founded in January 2024, has now acquired seven properties in Utah, California and Washington. Phillip Eilers of Cushman & Wakefield represented Steel Peak in the sale. The seller, Stalsberg Properties LLC, was repped by Charlie Davis of Cushman & Wakefield.
“We view Salt Lake City as a strategic location for industrial outdoor storage users in the Mountain West region,” said Blake Rodgers, Steel Peak Principal. “The lack of supply, increasing demand for industrial outdoor storage, and strategic connectivity to major transportation corridors all reinforce our confidence in this market.”
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