Retail developers across the Salt Lake City metro added 185,000 square feet of space in the first six months of 2026, the lowest January-to-June total on record, according to a third quarter report from Marcus & Millichap.
Last year, developers added more than 1.3 million square feet. What remains under construction totals less than 400,000 square feet, and two Lehi build-to-suits — a Target and a Life Time Fitness — accounted for half of that in July.
Almost no speculative multi-tenant retail is going up anywhere in the region, the report shows…