Axia Business Park
Axia Business Park
Asset Overview
Axia Business Park is a flex industrial complex spanning 232K SF with the ability to divide up to 4 bays achieving premium rents for coveted medium-sized spaces or providing an institutional quality footprint for a single national credit tenant. The project development team includes ParkWest Real Estate and Tom Stuart Construction, one of Utah’s largest construction management companies with vast commercial development experience. This state-of-the-art facility is strategically located in Salt Lake County, adjacent to the rapidly growing Silicon Slopes.
Asset Details
Location: Herriman, UT
Site Area: 20.9 AC
Building Size: 232,032 SF
Loading Doors: 7 Grade Level
Clear Height: 36′
Project Outlook
The project’s strategic location is one of the most desirable industrial markets in the country. Utah was recently named the #2 state economy in the U.S., the #2 employment hub in the country, and the state with the best economic outlook[1]. The strong location in Salt Lake County’s south valley provides a rare opportunity to capitalize on the high demand for functional industrial space, as evidenced by the submarket’s low vacancy rate (±1.6%)[2]. Sitting on one of the last developable industrial sites near Utah’s “Silicon Slopes,” it will provide excellent accessibility to I-15, Mountain View Corridor, and Redwood Road. The land was sourced directly from the seller, providing an attractive land basis relative to recent sales. With industrial projected to be one of the top-performing real estate assets over the next five years, this project is expected to be a valuable portfolio asset.
[1] Source: U.S. News & World Report as of Q1 2023; Wallet Hub as of Q1 2023.
[2] JLL as of Q3 2022
Project Type: Development
Asset Type: Industrial
Project Start: 2023
Target Project Completion: 2024
Our Office
4421 N Thanksgiving Way
Ste. 102 Lehi, UT 84043
Office Hours
Mon-Fri: 9am - 5pm
Sat-Sun: Closed