Utah

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LeasingMixed-useNewsRestaurantsUtah

Three New Tenants Sign Leases at Valley Grove in Utah

by Hayden Spiess

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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Grocery-anchoredInvestment salesNewsUtah

Capstone Purchases 38,397-Square-Foot Retail Center in Metro Salt Lake City

by Hayden Spiess

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
Investment salesNewsUtah

SSG, Hanley Broker Sale of 48,537-Square-Foot Shopping Center in Metro Salt Lake City

by Hayden Spiess

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
DevelopmentLeasingNewsUtah

Target to Open 135,000-Square-Foot Store at Provo Towne Centre in Utah

by Hayden Spiess

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
DevelopmentLeasingMixed-useNewsRestaurantsUtah

Three Restaurants Sign Leases at $1.2 Billion Valley Grove Development in Pleasant Grove, Utah

by Hayden Spiess

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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Investment salesNewsUtah

SRS Real Estate Partners Arranges $5.3 Million Sale of Single-Tenant Property in Utah

by Hayden Spiess

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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DevelopmentLeasingMixed-useNewsUtah

Three Tenants Sign Leases Totaling 5,221 Square Feet at Valley Grove in Utah

by Hayden Spiess

Pleasant Grove, Utah — Three new tenants have signed leases totaling 5,221 square feet at Valley Grove, a 130-acre mixed-use development currently underway in Pleasant Grove. MilkShake Factory, Shamrock Coffee and Club Pilates are scheduled to open at the property next year. Other retail tenants at the development — which also features office, residential space and hotel space — include AT&T, Café Rio, Da Cloud Boba Shoppe, Jersey Mike’s Subs, Kolache Krave, R&R BBQ, Starbucks Coffee, Slim Chickens, Verizon and Village Baker. Upon full buildout, the project cost is expected to …

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FinanceMixed-useNewsUtah

Bridge Investment, Lowe Property Group Receive $157.5 Million Refinancing for Mixed-Use Project in Salt Lake City

by Hayden Spiess

Salt Lake City — Bridge Investment Group and Lowe Property Group have received $157.5 million in loan proceeds to refinance Post District, a mixed-use development located in downtown Salt Lake City. Part of a three-phase project, Post District features 26,000 square feet of retail space, in addition to residential units. Sean Reimer, Mo Beler, Aaron Appel, Jonathan Schwartz, Adam Schwartz, Keith Kurland and William Herring of Walker & Dunlop co-originated the loan with Affinius Capital and Clarion Partners. 

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Highbury at Lake Park
Investment salesNewsUtah

X Development, Midloch Buy 119,366-Square-Foot Shopping Center in Metro Salt Lake City

by Hayden Spiess

West Valley City, Utah — X Development and Midloch Investment Partners have acquired Highbury at Lake Park, a 119,366-square-foot retail center in West Valley City, a suburb of Salt Lake City. An undisclosed seller sold the property for $30 million. Tenants at the center include Target, Bank of America, Xfinity, Freddy’s Frozen Custard & Steakburgers, Marshalls and Café Rio. Kip Paul of Cushman & Wakefield brokered the transaction, and America First Credit Union provided acquisition financing. Midloch is a preferred equity investor in the property, which is the firm’s first investment …

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