LOGAN, UTAH — Four Corners Property Trust (FCPT) has purchased three restaurant outparcel properties located adjacent to a mall in Logan. The aggregate acquisition price was $4.9 million. The name of the seller was not released.
The properties are a Texas Roadhouse, Olive Garden and Arby’s, and each property is leased to corporate operators under triple-net leases with approximately seven years of weighted average term
West Coast markets garner more press clippings and public attention. But the Intermountain States — Arizona, Colorado, Idaho, Montana, Nevada, New Mexico, Utah and Wyoming — are posting impressive numbers that belie their station in the American consciousness.
Offering Americans the sunshine and outdoor recreational opportunities they crave and the lower operating costs businesses seek, the region is in the nation’s sweet spot and taking full advantage of its position. Population, …
PLEASANT GROVE, UTAH — Evergreen Devco has completed the disposition of a newly developed retail center, located at 855 W. State St. in Pleasant Grove. Pinot Pasadena Land Co. acquired the property for $3.1 million.
The 5,500-square-foot, multi-tenant retail space was 100 percent occupied. Tenants include Mo’ Bettahs Hawaiian Style restaurant, Beans & Brews Coffee House and Dough Co., which is slated to open this spring.
Evergreen originally purchased the 1-acre site in June 2018 …
WEST VALLEY CITY, UTAH, AND LAS VEGAS — Next Wave Investors has purchased two multifamily communities in Nevada and Utah totaling 188 units for an undisclosed price. Additional details of the acquisitions were not released.
Next Wave acquired Harlow Apartments, a 98-unit property located at 10602 W. Alexander Road in Las Vegas, with units averaging 1,061 square feet. The resort-style, Class A property was built to condominium specifications and was more than 95 percent occupied at time of …
DRAPER, UTAH — Alliance Residential has opened The Ivy, an active adult community in Draper, approximately 17 miles south of Salt Lake City.
The luxury community, located in what the developer calls “one of Salt Lake City’s most stylish suburbs,” will be restricted to residents over the age of
RIVERDALE, UTAH — CIM has completed the disposition of The Family Center at Riverdale, a shopping center located on 42 acres at 1083 W. Riverdale Road in Riverdale, approximately 35 miles from downtown Salt Lake City. CCA Acquisition Co. acquired the property for $48.2 million.
At the time of sale, the 427,828-square-foot property was 97 percent occupied by Target (165,550 square feet), Sportsman’s Warehouse, Best Buy, Pier 1 Imports, Show Carnival, PetSmart, Dollar Tree and Joann …
PLEASANT GROVE, UTAH — Evergreen Devco has opened Pleasant Grove Town Center, its first retail development in Utah.
Located at 855 W. State St. in Pleasant Grove, the 1-acre
site is now home to Mo’ Bettahs Hawaiian Style Food, which opened on Feb. 22,
and Beans & Brews Coffee House, which opened in late January. The third,
and final, anchor tenant, Dough Co., is scheduled to open its third edible
cookie dough shop at the retail center this spring.
Completed in November 2018, …
UTAH, AND CASA GRANDE, BULLHEAD CITY AND KINGMAN, ARIZ. — MedCore Partners, in
partnership with Trinity Private Equity Group, has acquired four seniors
housing assets throughout Arizona and Utah for $98 million.
The acquisition is the first tranche of a five-property, 531-unit, $130 million portfolio acquisition for the partnership. The final property is still under construction, with the sale slated for completion upon delivery in May. SunTrust Bank provided financing for the …
UTAH — A joint venture between PEG Cos. and Woodbury Corp. has broken
ground on The Green on Campus Drive near Utah Valley University in Orem.
The five-building community will offer 1,605 beds and feature a pedestrian tunnel for direct, walkable access to campus. Phase I of development will include the construction of the first three buildings, set to open in fall 2020. The remaining two buildings are scheduled to open in fall 2021. R&O Construction is the general …
TREMONTON, UTAH — Marcus & Millichap has brokered the sale of Secure Storage Tremonton, a self-storage facility located in Tremonton, north of Salt Lake City near the Idaho border. A local family sold the property for an undisclosed price.
The 119-unit facility features a fully fenced yard with electronic
gate, paved driveways, drive-up access to each unit, steel sloped roofs,
roll-up doors and concrete floors. At the time of sale, the property was 100