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