Utah Archives - REBusinessOnline

Basis Investment Group Provides $23.1M Bridge Loan for Industrial Building in Provo, Utah

Amy Works — Wed, 21 Jan 2026 14:39:25 +0000

PROVO, UTAH — Basis Investment Group has provided a $23.1 million bridge loan to Scannell Properties to facilitate the refinancing of Sierra Vista Way, a recently constructed industrial property in Provo. The bridge loan is an investment held in BIG Real Estate Fund III. Situated within Mountain Vista Business Center, Sierra Vista Way features 158,765 square feet of industrial space with direct access to I-15, US-189, SR-114 and Lakeview Parkway.

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Northmarq Secures $82.5M Bridge Loan for Two Multifamily Properties in Salt Lake City

Amy Works — Mon, 19 Jan 2026 15:30:43 +0000

SALT LAKE CITY — Northmarq has arranged an $82.5 million bridge loan for the refinancing of CINQ and LUMA, two mid-rise apartment communities in Salt Lake City. John Bradshaw, Larry Pinnock and Adam Bradshaw of Northmarq’s Salt Lake City Debt + Equity secured the financing for the undisclosed borrower, through a relationship with Prudential. Located at 550 W. 200 S, CINQ features one-, two- and three-bedroom units, a fitness center, year-round heated lounge pool, a courtyard with barbecues and yard games, mezzanine level with a speakeasy whiskey lounge, business booths and coworking spaces. Additional amenities include bike wash and repair spaces, a dog spa and dog play area, controlled parking access and parking garage, package lockers and professional onsite management and maintenance. Located at 205 W. 500 W., LUMA offers studio, one- and two-bedroom units with stainless steel appliances, granite countertops, walk-in closets, balconies and urban mud rooms. Community amenities include a fitness center, swimming pool, clubhouse, coworking space, onsite maintenance, a barbecue grill, bike wash and repair space, bike storage, private wine storage and a private dining and wine tasting area.

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PGIM, Dakota Pacific to Develop 450,000 SF Spec Industrial Project in Salt Lake City

Amy Works — Tue, 06 Jan 2026 14:02:01 +0000

SALT LAKE CITY — PGIM and Dakota Pacific Real Estate have formed a joint venture to develop a six-building industrial project on two recently acquired land parcels near Bangerter Highway along California Avenue and 4400 West in Salt Lake City. Construction will immediately commence on the speculative development, totaling nearly 450,000 square feet, including dedicated yard space. The project is designed as modern small- and mid-bay industrial product with initial deliveries slated for early 2027. Big-D Construction is serving as general contractor and managing construction of the project. JPMorgan Chase Bank is financing the development. Kyle Roberts and Ben Richardson of Newmark represented the seller, while Newmark’s Lucas Burbank represented the joint venture in the land acquisition. Burbank and Kelsie Akiyama of Newmark are overseeing leasing efforts for the development.

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ZRP Acquires Riverdale Shopping Center in Metro Salt Lake City for $20M

Amy Works — Mon, 22 Dec 2025 15:41:34 +0000

RIVERDALE, UTAH — Ziff Real Estate Partners (ZRP) has acquired Riverdale Shopping Center, a 93,592-square-foot shopping center located in Riverdale, approximately 35 miles north of downtown Salt Lake City. T.J. Maxx and Ulta Beauty anchor the property, which was built in 2007, according to LoopNet Inc. JT Redd and Kip Paul of Cushman & Wakefield represented the seller. Christian Chamblee and Brooke Frey internally represented ZRP in the transaction.

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ViaWest Group, GEM Realty Capital Receive $43.3M Construction Loan for Industrial Project in West Valley City, Utah

Amy Works — Tue, 18 Nov 2025 14:55:18 +0000

WEST VALLEY CITY, UTAH — ViaWest Group and GEM Realty Capital have received $43.3 million in construction financing for the development of 5400 South, a previously announced three-building warehouse project in West Valley City. Kevin MacKenzie, Jason Carlos, Jeff Pew and Lilley Kroll of JLL secured the floating-rate loan for the borrower. Situated on 28.7 acres at 7301 W. 5400 S, the 470,334-square-foot development will feature clear heights ranging from 32 feet to 36 feet across the buildings. In total, 5400 South will offer 110 dock-high doors, 18 grade-level doors, 54 trailer parking spaces and 443 automobile parking spaces. The buildings will offer flexible space configurations ranging from 19,500 square feet to 218,499 square feet. Construction commenced in November, with completion slated for December 2026.

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Blueprint Brokers Sale of 122-Unit Seniors Housing Property in Utah

Amy Works — Wed, 12 Nov 2025 14:56:25 +0000

NORTH OGDEN, UTAH — Blueprint has brokered the sale of The Lodge at North Ogden, a 122-unit senior living property located in North Ogden, roughly 50 miles north of Salt Lake City. Opened in 2019, the community features independent living, assisted living and memory care residences. An undisclosed, non-traded REIT partnered with a regional operator and acquired the property for an undisclosed price. Amy Sitzman and Giancarlo Riso of Blueprint arranged the transaction on behalf of the seller.

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ViaWest Group, GEM Realty Capital Break Ground on 470,334 SF Industrial Park in West Valley City, Utah

Amy Works — Tue, 11 Nov 2025 14:37:53 +0000

WEST VALLEY CITY, UTAH — ViaWest Group, in partnership with GEM Realty Capital, has broken ground on 5400 Commerce Center, an industrial development located at 7301 W. 5400 South in West Valley City. Totaling 470,334 square feet, the project will feature a 97,249-square-foot Building 1, 154,586-square-foot Building 2 and 218,499-square-foot Building 3. Each building will be LEED-certified and feature ESFR sprinkler systems, 32- to 36-foot clear heights and 3,000 amp to 4,000 amp 480/277V power. Matt McAfee, Tom Dischmann, Jeff Richards and Chris Liddell of CBRE are leading the leasing efforts for the project.

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Bershon Realty Co. Sells Two Multi-Tenant Retail Properties in Provo, Utah

Amy Works — Thu, 06 Nov 2025 15:28:39 +0000

PROVO, UTAH — Bershon Realty Co. LP has sold Bulldog Plaza, a 13,620-square-foot retail center located near Brigham Young University (BYU) in Provo. Anchored by CVS Pharmacy, Bulldog Plaza comprises two retail pad buildings, which are both fully leased. The five-tenant, 10,025-square-foot pad building includes Noodles & Co., Firehouse Subs, Coco Tea, Teriyaki Bowl and The Taco Spot. Meanwhile, the three-tenant, 3,595-square-foot building is occupied by Papa John’s, The Paleta Bar and Crazy D’s Hot Chicken. Bill Asher, Jeremy McChesney, Jeff Lefko and Ed Hanley of Hanley Investment Group Real Estate Advisors represented the seller, Los Angeles-based Bershon Realty Co. LP, in the off-market transaction. Brendan Lee of Newmark Mountain West represented the buyer, a private 1031 exchange investor from the Salt Lake City metro area. The sales price was not disclosed.

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Joint Venture Sells 88,015 SF Self-Storage Facility in Lehi, Utah

Amy Works — Wed, 29 Oct 2025 13:55:26 +0000

LEHI, UTAH — A joint venture between Gardner Group, a Salt Lake City-based full-service commercial real estate development and management company, and Management Elevated, a Utah-based self-storage third-party manager and consulting firm, has completed the sale of Saratoga Storage, a 676-unit self-storage facility in Lehi. Constructed in 2023, Saratoga Storage consists of three single-story buildings with 100 drive-up units. The property offers a gated entry with a digital keypad, a separate onsite management office in front of the entrance gate, a 24/7 video surveillance throughout the facility, asphalt driveways and units with roll-up doors. Jordan Farrer and Adam Schlosser of The LeClaire-Schlosser Group of Marcus & Millichap represented the seller in the transaction.

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Marcus & Millichap Negotiates Sale of 63,630 SF Pink Door Storage & RV Facility in Magna, Utah

Amy Works — Tue, 28 Oct 2025 14:29:37 +0000

MAGNA, UTAH — The LeClaire-Schlosser Group of Marcus & Millchap has directed the sale of Pink Door Storage & RV, a 63,630-square-foot storage facility in Magna. A local development partnership sold the asset to Zoke Group for an undisclosed price. Jordan Farrer and Adam Schlosser of Marcus & Millichap represented the seller. Constructed in 2002, Pink Door Storage & RV features 445 self-storage units spread across seven single-story buildings with 220 drive-up units. Property amenities include a gate entry with a digital keypad, an onsite management office in front of the entrance gate, 24/7 surveillance, asphalt driveways, units with roll-up doors and covered RV and boat parking.

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Stellar Senior Living Adds Six Communities to Management Portfolio in Arizona, New Mexico

Amy Works — Wed, 22 Oct 2025 13:54:47 +0000

SALT LAKE CITY — Owner and operator Stellar Senior Living has added six new communities to its management portfolio. The Utah-based company will now operate Granite Gate Prescott, Ariz.; The Forum at Desert Harbor in Peoria, Ariz.; The Gardens of Scottsdale and Pueblo Norte in Scottsdale, Ariz.; The Forum at Tucson in Tucson, Ariz.; and Montebello on Academy in Albuquerque, N.M. Stellar will manage the properties on behalf of Diversified Healthcare Trust, which owns the communities. “These communities are located in markets we know and trust, and they complement our existing portfolio,” says Ray Henderson, partner and senior vice president of Stellar. “Each addition expands our presence in high-growth regions and reinforces our ability to deliver the quality care and vibrant lifestyle that define Stellar.”

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Newmark Mountain West Arranges Sale of 212,685 SF Warehouse in Spanish Fork, Utah

Amy Works — Fri, 17 Oct 2025 13:33:19 +0000

SPANISH FORK, UTAH — Newmark Mountain West has arranged the sale of a Class A warehouse and manufacturing property in Spanish Fork. The Boyer Co. sold the 212,685-square-foot asset to Arizona-based Cowley Cos. for an undisclosed price.

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Cowboy Partners Breaks Ground on 200-Unit Affordable Housing Project in Salt Lake City

Amy Works — Thu, 16 Oct 2025 13:40:33 +0000

SALT LAKE CITY — Cowboy Partners, with MVE + Partners as architect, has broken ground on Liberty Corner, an affordable housing property in Salt Lake City. The 387,857-square-foot, ground-up community will feature 200 apartments. Salt Lake City-based Cowboy Partners is a multifamily and mixed-use developer.

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Westcore Sells Two Industrial Facilities in Colorado, Utah

Amy Works — Wed, 24 Sep 2025 13:44:29 +0000

WEST VALLEY CITY, UTAH AND ENGLEWOOD, COLO. — Westcore has completed the disposition of The Raceway Commerce Center in West Valley City and Potomac Park I & II in Englewood to a partnership between Hyde Development and Mortenson Properties for an undisclosed price. Jeff Chiate, Will Strong, Michael Matchett, Phillip Eilers and John Schreck of Cushman & Wakefield, along with Joe Cesta, Tyler Carner and Jeremy Ballenger of CBRE, represented the seller and procured the buyer in the transaction. The properties are part of the National Core Industrial Portfolio, a multi-state portfolio totaling 2.4 million square feet across eight assets in six states. Located at 6057 W. SR-201 Frontage Road and 2234 S. 5900 West in West Valley City, The Raceway Commerce Center offers 397,894 square feet of industrial space with a clear height of 32 feet, expansive truck courts and LED lighting. Located at 7955 and 7901 S. Potomac St. in Englewood, Potomac Park I & II offer 28-foot to 30-foot clear heights, dock-high and drive-in loading and ESFR fire sprinklers.

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Highland Partners Acquires 114-Unit Multifamily Community in Ogden, Utah

Amy Works — Tue, 23 Sep 2025 13:36:47 +0000

OGDEN, UTAH — Highland Partners has purchased Christopher Village, an apartment property in Ogden, from a private seller for an undisclosed price. Brock Zylstra and Danny Shin of Institutional Property Advisors (IPA), a division of Marcus & Millichap, represented the seller and procured the buyer in the deal. Built in 1962, Christopher Village offers 114 apartments with fireplaces, storage space, dishwashers and air conditioning. Community amenities include a resort-style swimming pool, laundry facility and reserved covered parking.

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Gelt Venture Partners Buys 142-Unit Apartment Community in American Fork, Utah

Amy Works — Thu, 18 Sep 2025 13:18:53 +0000

AMERICAN FORK, UTAH — Gelt Venture Partners has acquired Alvera at the Meadows, an apartment property in American Fork, from a joint venture between Woodbury Corp., Garbett Homes and Cirrus Group for an undisclosed price. Brock Zylstra and Danny Shin of Institutional Property Advisors (IPA), a division of Marcus & Millichap, represented the seller and procured the buyer in the deal. Brian Eisendrath, Cameron Chalfant, Jesse Zarouk and Jake Vitta of IPA Capital Markets arranged acquisition financing for the buyer. Completed in 2021, Alvera at the Meadows features 142 apartments, a resort-style swimming pool with lazy river, a 24-hour workout facility, sauna, steam room and game room. Apartments offer keyless entry, vaulted or nine-foot ceilings, washers/dryers and private balconies or patios.

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Fort Street Partners Buys 177,000 SF Daybreak Corporate Center in South Jordan, Utah

Amy Works — Tue, 16 Sep 2025 14:05:57 +0000

SOUTH JORDAN, UTAH — Fort Street Partners has purchased Daybreak Corporate Center, a multi-tenant office building in South Jordan. Situated within the 4,000-acre master-planned Daybreak community, Daybreak Corporate Center offers 177,000 square feet of office space. Built in 2008, the asset features a 512-stall structured parking garage, a rooftop patio and walkable access to restaurants, retail, trails and the Daybreak Beach Club. At the time of sale, the property was 95.4 percent occupied. Current tenants include Rio Tinto, Travelpass Group and Enova. Fort Street Partners plans to renovate and lease the remaining space within the building.

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Longpoint Acquires 1 MSF of Industrial Properties in Salt Lake City

Amy Works — Mon, 15 Sep 2025 15:06:05 +0000

SALT LAKE CITY — Boston-based Longpoint has purchased two separate industrial portfolios in Salt Lake City — the Mountain West Portfolio and the Salt Lake City Infill Portfolio — totaling just over 1 million square feet. Terms of the transactions were not disclosed. The portfolios are located in Northwest Quadrant submarket, which accounts for 71 percent of Salt Lake City’s industrial base. The Mountain West Portfolio consists of nine shallow-bay properties, totaling over 490,000 square feet, with a combined occupancy level of 85 percent at the time of sale. The buildings were built between 1999 and 2006 and feature dock- and grade-level loading, an average of 23-foot clear heights, 100-foot to 200-foot truck court depths and HVAC systems across most warehouses. The Salt Lake City Infill Portfolio includes seven small- and shallow-bay industrial properties totaling over 531,000 square feet. Built between 1995 and 2022, the buildings, which were fully occupied at the time of sale, feature dock- and grade-level loading, an average of 25-foot clear heights, and 75-foot to 130-foot truck court depths.

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PACE Equity Provides $63.3M in C-PACE Financing for SkyRidge Resort in Deer Valley, Utah

Amy Works — Mon, 15 Sep 2025 14:27:26 +0000

DEER VALLEY, UTAH — PACE Equity has funded a $63.3 million mid-construction recapitalization using long-term, fixed-rate C-PACE financing for SkyRidge Resort in Deer Valley. SkyRidge Development is developing SkyRidge Resort. Designed for four seasons, SkyRidge Resort will offer the Stelle Lodge, a six-story resort with a rooftop bar, spa and guest services; a 310-yard golfing range with 15 hitting bays, a three-hole mountain golf course that converts into a nine-hole short course and the Golf Clubhouse with a bar and restaurant, grocer café and curated retail; and an Equestrian Center with a 34-stall barn, indoor and outdoor arena, a European walking path and scenic riding trails. SkyRidge Golf and Clubhouse are slated to open in late 2025, with theStelle Lodge scheduled to open in 2026.

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Northmarq Arranges $38M Refinancing for Bowers Residences in South Salt Lake, Utah

Amy Works — Fri, 12 Sep 2025 14:13:38 +0000

SOUTH SALT LAKE, UTAH — Northmarq has arranged a $38 million loan on behalf of SSLC Multifamily-Parking LLC for the refinancing of Bowers Residences, an apartment community located at 55 W. Utopia Ave. in South Salt Lake. John Bradshaw, Nate Barnson, Bracken Ostler and Adam Bradshaw of Northmarq arranged the permanent fixed-rate financing on behalf of the borrower through a relationship with New York Life. Built in 2023, Bowers Residences offers 236 studio, one-, two- and three-bedroom layouts, a fitness center with a bouldering wall and a yoga/spin studio, a spa, private rooftop lounge and courtyard with games and grills, and a coworking space with a rentable clubroom and kitchen.

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