Utah

Crossroads-of-Taylorsville_Taylorsville-Utah

Taylorsville, Utah — Continental Realty Corp. (CRC) has acquired The Crossroads of Taylorsville, a 630,000-square-foot shopping center located in Taylorville, roughly 12 miles south of Salt Lake City. TriGate Capital was the seller. Target, T.J. Maxx, HomeGoods, Ross Dress for Less, EOS Fitness, Regal Cinema and PetSmart anchor the property, which was 94 percent leased at the time of sale. Originally developed in 1982, the center features 10 buildings and seven separate outparcels and multi-tenant buildings.  Mark Damiani of Eastdil Secured represented the seller in the transaction. 

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Pleasant Grove, Utah — Five new tenants have signed leases totaling 11,200 square feet at Valley Grove, a mixed-use development by St. John Properties in Pleasant Grove. Feather Hat Bar, MassageLuXe, Melty, Panera Bread and Royal Suits will occupy 1,400; 2,600; 1,621; 3,755; and 1,847 square feet, respectively. Chris Lorenzon of Commercial Real Estate Specialists represented MassageLuXe in the lease negotations. Derek Orr of SW Valley KW Commercial represented Melty, and JR Moore of Mountian West Commercial represented Panera Bread. 

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Layton, Utah — CBL Properties has sold Layton Hills Mall, a mall located in the Salt Lake City suburb of Layton, for $37.1 million. Second Horizon Capital acquired the property in an all-cash transaction. Net proceeds from the sale were applied to a term loan principal balance, for which the mall served as collateral. 

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Valley-Grove_Pleasant-Grove-Utah

Pleasant Grove, Utah — Three new restaurant tenants have signed leases at Valley Grove, a $1.2 billion mixed-use development in Pleasant Grove. Upon full build-out, the project will comprise more than 1.5 million square feet of retail, office and hospitality space. The Great Greek Mediterranean Grill, Rancherito’s and Wildside Bowls are now open at the property, occupying a total of 5,498 square feet. Cameron Simonsen of Colliers International represented Wildside Bowls in the lease negotiations. Jace Bankhead of Legend Partners represented The Great Greek Mediterranean Grill, and Christopher Wilson of CRC …

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South Jordan, Utah — Capstone Advisors has purchased Trail Crossing Shopping Center, a 38,397-square-foot retail center located in South Jordan, roughly 20 miles south of Salt Lake City. Smith’s Food and Drug, a subsidiary of The Kroger Co., anchors the property, which was built in 2017. Wright Development Group sold the center for an undisclosed price. 

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Canyon-Center_Sandy-Utah

Sandy, Utah — SSG Realty Partners and Hanley Investment Group Real Estate Advisors have brokered the sale of Canyon Center, a 48,537-square-foot shopping center located in Sandy, a suburb of Salt Lake City. Tenants at the property, which was originally developed in 1987 and expanded in 1998, include Wells Fargo, Domino’s Pizza, F45 Training, Club Pilates, Fantastic Sam’s, Palm Beach Tan, Nautical Bowls, Ski ‘N See, Vessel Kitchen, Kibbles & Cuts, Chocolate Covered Wagon, Salt Cycles Bike Shop, Pella Nails, Brightside Chiropractic, Tiger Rock Martial Arts and Rainbow Sakura Massage. The …

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Target

Provo, Utah — Target has signed a deal to occupy 135,000 square feet of retail space at Provo Towne Centre in Provo. Brixton Capital is currently remodeling the shopping center. The Target will feature a CVS/pharmacy, Starbucks Coffee, Ulta Beauty, Target Optical and an adult beverage department. Roche Construction Mountain West is the general contractor for the Target space, and Big D Construction Mountain West is the general contractor for Provo Towne Centre.

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Valley-Grove_Pleasant-Grove-Utah

Pleasant Grove, Utah — Three restaurants have signed new leases at Valley Grove, a mixed-use property currently being developed by St. John Properties in Pleasant Grove. Upon full build-out, the cost of the project, which features office, retail, hotel and research and development space, is expected to total $1.2 billion. Wayback Burgers, The Smoked Taco and Sip’N Drinks & Treats are scheduled to open at the property later this year, occupying spaces totaling 6,011 square feet. Ryan Stewart, Erik Hulbert and Chris Flesner of Mountain West Commercial represented Wayback Burgers in …

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Herriman, Utah — SRS Real Estate Partners has arranged the $5.3 million purchase of a newly constructed single-tenant retail property located in Herriman, approximately 20 miles southwest of Salt Lake City. A Washington-based private investor acquired the property in a 1031 exchange. PetSuites occupies the 10,953-square-foot property, with a 20-year lease in place.  Susan Harris of SRS represented the buyer, and JLL represented the seller in the transaction. 

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