Kaysville, Utah — Utah-based indoor pickleball brand The Picklr will open 80 new venues across eleven states, including Arizona, Colorado, Florida, Georgia, Illinois, Minnesota, Nevada, Tennessee, Texas, Utah and Wyoming. The facilities will be opened in partnership with 13 new franchisees. “With seven corporate owned facilities, our first-mover advantage has undeniably led to a high level of interest from well capitalized candidates across the entire country,” says Scott Schubiger, chief growth officer of The Picklr.
Utah
Washington, Utah — Gantry has arranged a $15.2 million loan for the acquisition of Cotton Mill II, a retail center located in Washington, a suburb of St. George. Situated on 18.2 acres, the property comprises an inline shopping center and two outparcel ground leases totaling 165,000 square feet, with an additional pad that has capacity for a 15,000-square-foot multi-tenant inline building. Tenants at the center include Kohl’s, Natural Grocers, Ross Dress For Less, JOANN Fabrics, Dollar Tree, Red robin and Cache Valley Bank. Tony Kaufmann and Erinn Cooke of Gantry secured …
West Valley City, Utah — Red Mountain Group Inc. has sold a 6,764-square-foot retail center located in West Valley City, roughly 10 miles southwest of Salt Lake City. An undisclosed buyer purchased the property for $2.1 million. Tenants at the center, which was 100 percent occupied at the time of sale, include Tellica Imaging, Allstate Insurance, Metro by T-Mobile and a nail salon. Dave Lucas of CP Partners Commercial Real Estate represented Red Mountain Group in the transaction.
CenterCal Properties Completes 1 Million-Square-Foot Mountain View Village in Metro Salt Lake City
Riverton, Utah — CenterCal Properties has completed the final phase of development at Mountain View Village, a 1 million-square-foot mixed-use property located in Riverton, roughly 20 miles south of Salt Lake City. Construction began on Phase I of the 86-acre development in 2018. In total, the property features retail space with over 50 entertainment, health, beauty, apparel, grocery and restaurant tenants; 177,000 square feet of office space; Village Lofts, a 208-unit multifamily community; a 14-screen Cinemark Theatre; and outdoor gathering spaces with a show fountain, five pocket-parks and a covered town …
Riverton, Utah — Matthews Real Estate Investment Services has arranged the acquisition of a retail property occupied by Walgreens in Riverton, roughly 20 miles outside Salt Lake City. An undisclosed buyer purchased the asset for $8.4 million in a 1031 exchange. Anthony Connell, Preston Schwartz, David Harrington and Chad Kurz of Matthews brokered the transaction.
Henderson, Nev. and Salt Lake City — Colliers International has arranged two separate land parcel sales totaling $6.6 million in Henderson and Salt Lake City. In the first deal, EOE Volunteer LLC sold an 0.84-acre land parcel at 3495 Volunteer Blvd. in Henderson. AutoZone Development LLC acquired the property for $1.2 million. Steven Haynes of Colliers represented the seller in the transaction. In the second deal, an undisclosed buyer acquired a 0.48-acre land parcel at 3215 E. 3300 South in Salt Lake City for $5.4 million. The name of the …
Midvale, Utah — Faris Lee Investments has arranged the $8.7 million sale of Garden Square shopping center, located roughly 12 miles outside Salt Lake City in Midvale. Nick D’Argenzio, Tom Chichester and Joe Chichester of Faris Lee Investments represented the undisclosed buyer and seller in the transaction.
Taylorsville, Utah — Faris Lee Investments has arranged the $1.8 million sale of an Autozone ground lease in Taylorsville. Don MacLellan and Tom Chichester of Faris Lee Investments represented the seller in the transaction, a private equity fund out of Dallas. The AutoZone ground lease sold for a 4 percent cap rate with 20 years remaining on the lease. The buyer was in a 1031 exchange and closed with all cash at asking price. The Autozone property is part of The Crossroads at Taylorsville, a community center that is co-anchored …
JLL Capital Markets Arranges $274.4 Million Refinancing for Six-Property West Coast Retail Portfolio
Seattle; Boise, Idaho; and Salt Lake City — JLL Capital Markets has secured $274.4 million in financing for a six-property portfolio of core-quality retail centers totaling 2.7 million square feet across Seattle, Boise and Salt Lake City. The borrower is a joint venture between CenterCal Properties, a large pension fund and its advisors Principal and PCCP. The financing includes five separate 10-year, fixed-rate, non-recourse CMBS loans provided by JP Morgan Chase. Loan proceeds were used to retire existing debt and rebalance leverage across the portfolio. The portfolio consists of four grocery-anchored shopping centers, one power …
Columbia Pacific Advisors Provides $31.1 Million Construction Loan for Development of Campus SLC in Salt Lake City
Salt Lake City — Columbia Pacific Advisors Bridge Lending, a subsidiary of Columbia Pacific Advisors, has provided a $31.1 million loan for the construction of Campus SLC, a 130,000-square-foot property that will feature anchors winter sports retailer Evo and rock climbing gym The Bouldering Project. The property will also feature local retailer L9 Sports, an art gallery, dining options, a skatepark and other recreational activities. Campus SLC will be situated at the former site of an industrial plant in Salt Lake City’s Granary district. Will Nelson of Columbia Pacific Advisors …