SALT LAKE CITY — An Ares Real Estate fund bought a 325,215-square-foot Class A industrial facility at 5270 W. John Cannon Drive in Salt Lake City's Northwest Quadrant, JLL Capital Markets announced Nov. 9. The sale closed in October 2026. The price and the seller were not disclosed.
Completed in 2022, the building is 100% leased through February 2033 on a triple-net basis to a home furnishings and lifestyle retailer that the release does not name; it serves as that tenant's distribution facility. It has 36-foot clear height, 89 dock-high doors, a cross-dock layout and 82 trailer stalls, and sits about five miles from Salt Lake City International Airport with access to Interstates 80 and 215. Marq Logistics, Ares Real Estate's logistics platform, will manage the property. The release describes no new jobs or investment.
ON THE RADAR: DEAL
Buyer: An Ares Real Estate fund (Ares Management Corporation, NYSE: ARES)
Tenant: A home furnishings and lifestyle retailer (not named), leased through February 2033
Seller: Not named
Property: 5270 W. John Cannon Drive, Salt Lake City, Utah; 325,215 sq ft Class A distribution facility, built 2022
Price: Not disclosed
Broker: JLL Capital Markets
Type: Acquisition (leased industrial)
Announced: Nov. 9, 2026 (closed October 2026)
Read the JLL announcement →
In the Tracker: All Utah projects