PROVO, UTAH — Marcus & Millichap has arranged the sale of Pacific Heights Apartments, a 336-bed student housing community located near Brigham Young University in Provo. The price was not disclosed. The property offers fully furnished three-, four-, five- and six-bedroom units. Brock Zylstra and Danny Shin of Marcus & Millichap represented the seller, a local development group based in Alpine, Utah, and procured the buyer, College Place Partners.
SANDY, UTAH — Col Rich has acquired the 416-unit Cobblegate Apartments in Sandy for $93.8 million. The community is located at 910 E. 9000 South. Cobblegate Apartments is situated near Dimple Dell Regional Park, the Jordan Commons Megaplex Theatres and South Towne Center, a 1,300,000-square-foot shopping mall. Community amenities include underground parking, attached and detached garages and carports, a swimming pool, hot tub, large fitness center, playground, and clubhouse. Daniel Shin and Brock Zylstra of Marcus & Millichap represented the seller, a local developer, in this trasnsaction.
SALT LAKE CITY — Maxx Properties has purchased the 412-unit Mission Meadowbrook Apartments in Salt Lake City for an undisclosed sum. The community is located at 820 W. Timbercreek Way. Mark Jensen and Greg Ratliff of Newmark Grubb ACRES represented both the buyer and the seller, Starwood Property Trust, in this transaction.
SANDY, UTAH — Gardner Co. has broken ground on a 327,000-square-foot office building in Sandy. Mountain America Credit Union will own and occupy the building once completed. The 11-story building is located at 9800 South. The building is scheduled for completion in 17 months. Gardner Co. is developing the project, which WRNS Studio designed.
OGDEN, UTAH — Marcus & Millichap has arranged the sale of an undisclosed skilled nursing facility in Ogden for $7.5 million. A regional operator bought the 88-bed facility. Tony Cassie and Dan Mahoney of Marcus & Millichap represented both the buyer and seller in the transaction.
SALT LAKE CITY — The Kissel Co. has purchased the Sweet Candy Building in downtown Salt Lake City for an undisclosed sum. The historic building is located at 200 West and 224 South. The 97,000-square-foot property was built in two phases between 1911 and 1922. The Sweet Candy Building was renovated in 2001, at which time it was converted into retro tech space. It is fully leased. CBRE’s Marty Plunkett and Craig Thomas represented the seller, Olafson II LLC, in this transaction.
OGDEN, UTAH — ReaderLink has leased a 500,000-square-foot, built-to-suit distribution space in Business Depot Ogden. The new facility will be located at 1019 W. 400 N. in Ogden. The space will be completed at the end of the second quarter in 2017. JLL’s Andy Wheeler and Wick Udy represented the hardcover, trade and paperback books distributor.
OGDEN, UTAH — An out-of-town investor has purchased a 258,902-square-foot industrial building in Ogden for an undisclosed sum. The building is located at 1330 W. 3300 S. The deal represents one of the largest transactions of its kind in Weber County this year. Jeff Heaton and Eli Priest of Newmark Grubb ACRES represented the seller.
SALT LAKE CITY — Hines Global REIT II has purchased Cottonwood Corporate Center, a 490,030-square-foot office complex in Salt Lake City, for an undisclosed sum. The four-building center is situated on East Cottonwood Parkway near the mouth of Big Cottonwood Canyon. This was the REIT’s first acquisition in Utah. CBRE’s Eli Mills and Timothy Richey, along with NGKF’s Ken White, represented the seller, CommonWealth Partners LLC, in this transaction.
TAYLORSVILLE, UTAH — CBRE Group Inc. has arranged the sale of Taylorsville Town Center, a 127,231-square-foot shopping center in Taylorsville, for an undisclosed price. Associated Foods Fresh Market anchors the 97 percent occupied shopping center, which is also home to Rite Aid, The UPS Store, Pizza Hut and Fantastic Sam’s. Brad Lyons and Tim Richey of CBRE represented the seller, Weingarten Realty Investors, in the transaction. Slate Asset Management purchased the property.
