SALT LAKE CITY and WEST VALLEY CITY, UTAH — A partnership between Hyde Development and Mortenson Properties has acquired the Salt Lake City Industrial Portfolio, a nine-building infill portfolio located just south of the Salt Lake City International Airport near the convergence of interstates 15 and 80. Terms of the transaction were not released.
The portfolio is comprised of five single-tenant and four multi-tenant buildings totaling 787,000 square feet. At the time of sale, the asset was 96 percent leased to 13 blue-chip tenants.
The portfolio includes 3595 W. Technology Drive and two buildings at 2323 S. 3600 West in West Valley City, and 2555-2595 W. Custer Road, 2525 W. 1700 South, 2534 W. Bridger Road, 2415-2435 E. Custer Road, 1765 Fremont Drive and 1855 Fremont Drive in Salt Lake City.
Jeremy Ballenger, Tyler Carner, Rebecca Perlmutter and Brett Hartzell of CBRE National Partners represented the undisclosed seller in the deal.