LEHI, UTAH — Sorenson Media has expanded its headquarters in Lehi, absorbing an additional 30,648 square feet. The office building is located at 2000 W. Ashton Blvd. in Thanksgiving Station. Construction of the project is ongoing, and Sorenson will occupy a total of 91,977 square feet. Chris Falk and Braxton Willie of Newmark Grubb ACRES represented Sorenson in this transaction.
SALT LAKE CITY — Refrigeration Supplies Distributor (RSD) has purchased the former Daltile Stone & Slab Center, a 40,000-square-foot industrial building in Salt Lake City, for an undisclosed sum. The property is located at 250 W. Gregson Ave. RSD is a refrigeration parts and equipment wholesaler in the Western United States. Skyler Peterson of Newmark Grubb ACRES represented RSD, while the firm’s Eli Priest represented the undisclosed seller in this transaction.
SPANISH FORK, UTAH — Englewood Construction has been tapped to work on three food-related projects in the Western U.S. The firm recently completed a 7,794-square-foot Olive Garden Italian Restaurant in Spanish Fork. It is one of more than 800 Olive Gardens in 49 states for Orlando, Fla.-based Darden Restaurants Inc., a national client of Englewood Construction. Tustin, Calif.-based CRHO Architects was the project architect. The national general contractor has also started interior remodeling projects for two test kitchens and training facilities for US Foods in California and Arizona. Englewood additionally commenced construction on two food-service projects in La Mirada, Calif., and Phoenix. Rosemont, Ill.-based US Foods Inc., a food company and distributor to restaurants, healthcare, hospitality, government and educational facilities, hired Englewood Construction to remodel two of its Western test kitchen and training facilities. Scheduled to be complete early next year, the interior remodels will accommodate the latest kitchen and training equipment. Hartland, Wis.-based ESI Design Services is the project architect for both locations. Englewood will build a classroom-style arrangement around a condensed version of the standard cook line, with a ventilation hood over open flames, a fryer, skillet and griddle. Englewood will remodel each of US Foods locations’ existing 6,775-square-foot …
LINDON, UTAH — WI Commercial Properties (WICP), a developer based in Tampa, Fla., is building out a new master-planned campus in Lindon known as Mountain Technology Center. The $200 million development is situated about 12 miles north of Provo in Utah County. WICP has already invested over $80 million in the 55-acre development and will be investing another $120 million before the project’s completion. The campus sits west of the Pleasant Grove Boulevard freeway interchange and features unobstructed mountain views with lake views to the south. At full build-out, the mixed-use development will feature 650,000 square feet of Class A office and industrial space spread over 10 buildings, as well as a food court off Pleasant Grove Boulevard. The new components coming to the campus include Mountain Tech North, which comprises an 88,000-square-foot flex industrial facility known as Mountain Tech III and the new food court. Mountain Tech III will be the first building with 32-foot clear heights in Utah County, according to WICP. Mountain Tech South is planned on the south side of Pleasant Grove Boulevard. This phase will include two four-story office buildings and four office/warehouse hybrid facilities. Construction on Mountain Tech South is scheduled to begin in …
SAINT GEORGE, UTAH — Newmark Knight Frank (NKF) has arranged the $33.2 million sale of Red Rock Commons, a 134,152-square-foot retail center in Saint George, a city in southwest Utah. Pete Bethea, Rob Ippolito and Glenn Rudy of NKF represented the seller, ShopCore Properties, an affiliate of The Blackstone Group. Pacific Castle acquired the asset. Constructed in 2011 and 2012, Red Rock Commons includes four multi-tenant buildings and two freestanding pad sites. At the time of sale, the center was fully leased to tenants including Dick’s Sporting Goods, Old Navy, PetSmart, Ulta Beauty and The Gap.
SANDY, UTAH — Marcus & Millichap (NYSE: MMI) has arranged the sale of Rosegate Sandy, a 159-unit active adult community in the Salt Lake City suburb of Sandy, for $23.8 million. Completed in 2013, the property is restricted to residents over the age of 55. The one-building community has three elevators and access hallways to each unit. Nearby shopping venues include a Walmart Supercenter, Harmons Grocery, Smith’s Food and Drug, and Lowe’s. Other nearby features include the Marv Jenson Recreation Center, Storm Mountain Park and the Henry J. Wheeler Historic Farm. Danny Shin and Brock Zylstra of Marcus & Millichap represented both the seller, a local developer, and the buyer, an out-of-state investor, in the transaction. The price equates to more than $149,000 per unit.
LEHI, UTAH — Gardner Co., Staker Co., WPI, CBC Advisors and L&T have unveiled plans for Lone Peak Plaza, a five-story office building in the North Utah submarket of Lehi. The Class A building is located at 3851 North Thanksgiving Parkway. Lone Peak Plaza will feature floor-to-ceiling glass, basketball courts, lockers and showers. Nature’s Sunshine Products has signed a long-term lease at the project.
WEST JORDAN, UTAH — Walker Tape has expanded its industrial footprint in the Salt Lake City suburb of West Jordan. The provider of tape and adhesive for hair replacement systems recently completed a 33,232-square-foot facility at 9312 S. Prosperity Road. The new building will allow the firm to nearly double its square footage. The space also includes 4,000 square feet of Class A office space. The former Walker Tape Building was sold to Multi-Fill, a manufacturer of filling equipment for the food industry. Skyler Peterson of Newmark Grubb ACRES represented Walker Tape.
HERRIMAN, UTAH — Buchanan Street Partners has acquired a 298-unit age-restricted apartment community in the Salt Lake City suburb of Herriman for an undisclosed price. The sellers were KeyBank and Bank of the West. Buchanan Street plans to finish construction of the unfinished property in early 2018. The name of the community was not released. Previously focused on the office, industrial and retail sectors, Buchanan Street launched a multifamily investment platform in March. The company plans to invest $500 million in multifamily properties over the next three years. Kip Paul and Camron Carpenter of Cushman & Wakefield represented the sellers in the transaction. Buchanan Street represented itself. Buchanan Street Partners is a real estate investment firm based in Newport Beach, Calif. Over its history, the company has invested more than $6 billion in real estate debt and equity.
MURRAY, UTAH — A Seattle-based investor has acquired the 400-unit Lionsgate apartments in Murray or $67.2 million. The community is located at 136 W. Fireclay Ave., eight miles south of Salt Lake City and 40 miles north of Provo. Lionsgate features one- to three-bedroom floorplans that range from 942 square feet to 1,165 square feet. Danny Shin of Marcus & Millichap represented both the buyer and seller, a local owner, in this transaction.