Blake Rodgers & Pasha Johnson Of Steel Peak Acquire Industrial Property In Salt Lake City For $3.1M
758 West 1500 North
$3,100,000
Building Size
—
Asset Type
Industrial
Closing
Aug 13, 2025
AI
An industrial outdoor storage property located at 758 West 1500 North in Salt Lake City, UT, has been sold for $3,100,000. The property spans 2.34 acres and includes a 15,218-square-foot building and yard. This transaction represents Steel Peak's second purchase in the Salt Lake City market for 2025 and their eighth overall since the firm's launch in January 2024.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $3,100,000
- Buyer: Blake Rodgers & Pasha Johnson - Steel Peak
- Seller: Wolff Excavating Inc
- Broker: Tanner Riedel - Colliers
Steel Peak plans to implement upgrades to the acquired property with intentions to lease it to quality tenants, responding to the increased demand for industrial outdoor storage driven by growth in Mountain West construction.
Players
Salt Lake City Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.12%
Cash-on-Cash
-1.46%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93