WEST VALLEY CITY, UTAH — Sansone Group, in partnership with Argos Capital Partners, has acquired a 24.8-acre land parcel located in West Valley City for an undisclosed price. The partnership plans to develop a two-building, rear-load, Class A industrial property on the site. The development will offer a total of 404,800 square feet. This the first partnership between Sansone and Argos Capital Partners, a private investment management firm focused on serving ultra-affluent families.
KAYSVILLE, UTAH — Lincoln Property Co. (LPC) has acquired Access Park, an industrial campus in Kaysville and the company’s first acquisition in Utah. Access Park LLC sold the property for an undisclosed price. Located at 505 N. Kays Drive within Kaysville Business Park, Access Park features a total of 212,950 square feet of Class A industrial space spread across three fully occupied buildings. The park includes two newly built, 69,101-square-foot distribution buildings and one 74,784-square-foot industrial and manufacturing building. The facilities offer clear heights ranging from 22 feet to 32 feet and a total of 74 dock-high and ground-level doors. LPC Desert West will manage Access Park as part of its more than 7 million-square-foot regional management portfolio. Kip Paul, Rhett Bue and Jorgi Paul of Cushman & Wakefield represented the seller in the transaction.
SALT LAKE CITY — The first phase of Salt Lake City International Airport’s $4 billion expansion is now complete and set to open Tuesday, Sept. 15. HOK Architects designed the project, which features more efficient passenger flow, visual aesthetics, new amenities and high environmental standards. The airport serves more than 26 million passengers per year. Airport officials say that the original facilities, designed 50 years ago, were no longer efficient for use as a modern hub airport and were not built to today’s earthquake standards. The project was funded with federal grants, user fees, airport revenue bonds and airport reserves. Construction began in July 2014. Completion of all phases is slated for 2024. Leading the construction was HDJV, a joint venture between Holder Construction and Big-D Construction. AOJV, a joint venture between Austin Commercial and Okland Construction, led construction of the North Concourse. Design and engineering partners included HNTB, Colvin Engineering, Reaveley Engineers + Associates and Dunn Associates. The new terminal is designed to eliminate airplane parking bottlenecks and enable airlines to get planes back in the air more quickly. Napa, Calif.-based artist Gordon Huether completed art installations within the project. The largest installation, The Canyon, reflects Utah’s landscape and …
WEST VALLEY CITY, UTAH — CBRE has facilitated the sale of 4100 Bangerter, a medical office building located in West Valley City, a suburb of Salt Lake City. Terms of the transaction, including the names of the buyer and seller and acquisition price, were not released. Located on 7.1 acres at the intersection of 4100 South and Bangerter Highway, the building features 108,456 square feet of space. The buyer plans to convert the property, which was vacant at the time of sale, into a series of condominiums equipped for medical, lab and office space. Marty Plunkett, Vickey Walker, Craig Thomas and Melissa McIntyre of CBRE’s Salt Lake City office represented the seller in the transaction.
COEUR D’ALENE, IDAHO — Gantry has secured $9.8 million in permanent financing for The Lake Apartments, a newly constructed multifamily community located in Coeur d’Alene. Demetri Koston and Joyce Chen of Gantry arranged the 12-year, fixed-term, Fannie Mae refinancing, which includes a $1.5 million cash-out. The name of the borrower was not released. Delivered this year, The Lake Apartments features three interconnected buildings offering a total of 46 apartments in a mix of studio, one-, two- and three-bedroom units.
HELPER, UTAH — Ostler Holding Limited Company of Utah LLC has completed the disposition of a retail building located at 610 US-6 in Helper. An in-state limited liability company acquired the asset for $1.3 million. Built in 2019 on 1.4 acres, the property features 8,320 square feet of retail space. Family Dollar occupies the building on a double net lease with 8.5 years remaining on the term. Drew Isaac and James Rassenfoss of Marcus & Millichap represented the seller in the transaction.
TEMPE, ARIZ., AND UINTAH AND ROY, UTAH — Hunt Real Estate Capital has funded three Fannie Mae conventional loans, totaling $41.4 million, to refinance three manufactured home communities in Arizona and Utah. All three transactions lowered interest rates for the borrower and provided cash-out options. The three communities, which are 100 percent mission driven and share the same management company, include: Tempe Cascade Mobile Home Estates, a 273-site property built in 1971 in Tempe Cottonwood Estates, an 83-site community developed in 1976 in Uintah Midland MHC, a 224-site first developed in 1938 and redeveloped in 1973 in Roy The loans for Tempe Cascade Mobile Home Estates and Cottonwood Estates share the same terms: a fixed interest rate and seven-year term. The Midland MHC loan features a fixed interest rate, 10-year term and two years of interest-only payments. Tom Houlihan of Sterling Financial Mortgage & Investment arranged the transactions.
SALT LAKE CITY — Playa Vista, Calif.-based DB Capital Management has completed the disposition of Edgewood Park, a multifamily community located in Salt Lake City’s Cottonwood Heights submarket. A private investor acquired the property for $15.5 million. The seller originally purchased the asset in September 2018 for $11 million and immediately implemented an interior and exterior renovation program that included quartz countertops, stainless steel appliances and vinyl-plank flooring, as well as an updated leasing office and pool area. Additionally, DB Capital enhanced the community amenities with a fire pit, barbecue area and dog park, as well as the addition of managed high-speed internet for the residents. Greg Barratt of Berkadia represented the seller, while Greg Pavich of Colliers International represented the buyer in the deal.
WEST SACRAMENTO, CALIF., AND SALT LAKE CITY — A joint venture between PCCP and The Koll Co. has purchased an eight-building industrial portfolio in West Sacramento and Salt Lake City. A private family trust sold the portfolio for $41.3 million. Totaling 510,7070 square feet, the assets were fully leased at the time of sale. The three California properties, totaling 226,000 square feet, are located within the Port of Sacramento Industrial Park. Built in 1987, the buildings feature 22- to 26-foot clear heights, dock-high doors, grade-level doors, wet sprinklers, reinforced concrete loading areas and ample parking. The remaining five properties, totaling 214,000 square feet, are located within Centennial Industrial Park in Salt Lake City. The buildings feature 24- to 27-foot clear heights, dock-high doors and grade-level doors. Bret Hardy and Kevin Shannon of Newmark Knight Frank represented the seller, while David Milestone of Newmark Knight Frank sourced acquisition debt from California Bank & Trust for the buyer.
WEST VALLEY CITY, UTAH — The LeClaire Group of Marcus & Millichap has arranged the purchased of All American Storage in West Valley City. A regional real estate investor acquired the 8,800-square-foot self-storage facility for an undisclosed price. Built in 1997, the property features 45 drive-up, non-climate-controlled self-storage units and an on-site apartment. Units range in size from 100 square feet to 400 square feet, with the ability to reconfigure unit sizes to accommodate larger spaces. Additionally, the fully fenced and gated property features keypad access and 24-hour surveillance. Jordan Farrer of The LeClaire Group of Marcus & Millichap represented the buyer in the deal. The name of the seller was not released.
