The Terrace at Traverse Mountain 16 Retail Properties in Lehi, UT

Newmark Mountain West is pleased to present, for the first time since its development, The Terrace at Traverse Mountain — a Class A, institutional-quality retail center in the heart of Lehi, the commercial core of Utah’s Silicon Slopes. Anchored by Harmons — the Wasatch Front’s premier locally owned grocer and one of the top-performing stores in the state — and junior-anchored by Marshalls, the center pairs daily-needs durability with the demographic and employment tailwinds of one of the nation’s most dynamic growth markets.
The offering captures a deep, food-and-service-driven tenant base. Marshalls, JPMorgan Chase, H&R Block, Café Rio and Zao lease on corporate paper, alongside AT&T, T-Mobile and Verizon storefronts and a best-in-class regional restaurant lineup — R&R BBQ, Taqueria 27, The Original Pancake House, Jersey Mike’s, Tsunami, Beans & Brews, Capriotti’s and Houston Hot Chicken. The draw is measurable: the center generates more than 2.1 million visits a year, with Harmons alone accounting for over 1.08 million — up 11% year over year.
Built beginning in 2016 and 100% leased, the center’s original ten-year leases are now reaching their first renewals. Roughly 79% of the owned square footage sits under a renewal option struck a decade ago, and those option rents were set well below what space in northern Utah County commands today. The result is a continuing opportunity to significantly grow income as options burn off over the next hold period.
The Terrace at Traverse Mountain is a rare opportunity to own core, daily-needs retail in Utah’s premier growth corridor — an asset class with very few willing sellers — at stabilized in-place cash flow with embedded, contractually approaching upside.