Steel Peak, a commercial real estate investment firm focused on industrial outdoor storage (IOS) properties, announced today that it has acquired an industrial outdoor storage (IOS) property located at 758 W 1500 N in Salt Lake City, UT for $3.1 million. This marks the company’s second IOS acquisition in the Salt Lake City market in 2025. The company which was founded in January 2024 has now acquired eight properties in Utah, California and Washington.

Steel Peak plans to make strategic improvements to both the building and yard, including cosmetic upgrades and office enhancements, as it looks to lease it to high-quality tenants.

“Steel Peak is attracted to the strong fundamentals driving demand for contractor yards and Industrial Outdoor Storage (IOS) in Salt Lake City,” said Blake Rodgers, Steel Peak Principal. “This property was especially attractive to us because of its M-2 (Heavy Manufacturing) industrial zoning, which is extremely limited in the market, making well-located IOS sites with functional shop space and large secure yards increasingly scarce.”

Steel Peak Co-Founder Pasha Johnson continued by saying “Construction activity across the Mountain West continues to fuel demand from contractors, equipment rental companies, and material suppliers that require large outdoor storage areas. As infrastructure and development projects accelerate, competition for these properties is growing.”

Steel Peak represented itself in the acquisition. The seller, Wolff Excavating Inc., was represented by Tanner Riedel of Colliers International.

Steel Peak will continue to seek IOS investment opportunities throughout the Western U.S. with capitalized values ranging from $5 million to $50 million. The firm invests directly and in partnership with institutional and high net-worth investors.

758 W 1500 N is ideally located in the Northwest Industrial Submarket of Salt Lake City just minutes from I-15, a crucial transport link that provides connectivity to the main industrial corridor of the market along with major interstate highways (I-215, I-80, and I-70). The property consists of a 15,218-square-foot industrial building on 2.34 acres. The M-2 (Heavy Manufacturing) 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.

About Steel Peak

Steel Peak is a Southern California based real estate investment firm that specializes in the acquisition and improvement of industrial outdoor storage assets throughout the Western United States. Steel Peak’s relationship driven investment strategy focuses on sourcing hidden opportunities that translate to outsized returns. For more information, please visit www.steelpeakproperties.com.

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