Utah

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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Valley-Grove_Pleasant-Grove-Utah

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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Post-District-SLC-UT

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

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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Picklr

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. 

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Cotton-Mill-II_Washington-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 …

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West-Valley-City-Utah-Retail-Center

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.

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Mountain-View-Village

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 …

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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.

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