Kennedy Wilson Buys 247,000 SF Office Campus in Salt Lake City for $55M

SALT LAKE CITY, UTAH — Kennedy Wilson Fund VI, a commingled fund managed by Kennedy Wilson (NYSE: KW), has acquired three two-story office buildings and two development sites totaling 247,000 square feet in Salt Lake City. An undisclosed seller sold the assets for $55 million.Situated on 24.2 acres within Parkway Center, the campus is fully occupied by five tenants, including Amazon and Verizon, with both occupying single-tenant buildings.The acquisition expands Kennedy Wilson’s …

CenterCal Properties Selects General Contractor for Phase II of Mountain View Village Project in Utah

RIVERTON, UTAH — Developer CenterCal Properties has selected Okland Construction to build the second phase of Mountain View Village Phase II, an 85-acre lifestyle development in Riverton.The second phase will include five pocket parks with unique amenities; show fountains; a covered market hall-style pavilion with a collection of eateries and common indoor and outdoor seating; a 14-screen Cinemark movie theater complex; and retail, restaurant and commercial spaces.The first phase …

Webinar: What will Salt Lake City Multifamily Activity Look Like in 2021?

  The Dec. 7, two-part webinar "What will Salt Lake City Multifamily Activity Look Like in 2021?", hosted by Western Real Estate Business, allowed industry experts to discuss development pipeline, investor appetite and trends in the apartment sector.Watch for an in-depth discussion from the first panel on broker/lender thoughts on pricing, timing for investment and trends in the multifamily market. The second panel is devoted to analysis from developers, covering perspectives …

Blueprint Brokers Sale of 42-Unit Seniors Housing Community in Park City, Utah

PARK CITY, UTAH — Blueprint Healthcare Real Estate Advisors has brokered the sale of an undisclosed assisted living and memory care community in Park City, approximately 35 miles southeast of Salt Lake City.The community was built in 1999 and features 32 units of assisted living and 10 units of memory care.The Pacific Northwest-based owner sought to divest the asset as a geographical outlier in its portfolio. A local owner-operator bought the property for an undisclosed price, taking …

GPR Ventures Enters Utah Market, Acquires 49,234 SF Warehouse in West Jordan

WEST JORDAN, UTAH — GPR Ventures has entered the Utah market with the purchase of an industrial warehouse property situated on 3.6 acres in West Jordan. Terms of the transaction were not released.BC Technical, a diagnostic imaging solutions and services provider, occupies the 48,234-square-foot facility, which features a 35,632-square-foot manufacturing and assembly area and a 13,602-square-foot office space.The property offers raised floors with an anti-static covering throughout the …

Buchanan Street Partners Sells 160-Unit Ascent in Cottonwood Apartments Near Salt Lake City

COTTONWOOD HEIGHTS, UTAH — Buchanan Street Partners has completed the sale of Ascent in Cottonwood, a multifamily property located at 1151 E. 6720 S in Cottonwood Heights. Warmington Properties acquired the community for an undisclosed price.Built in 1996, the property features 160 apartments, a swimming pool with poolside pergola, outside television, bocce ball court and dog park.Danny Shin, Brock Zylstra, Steve Gebing and Cliff David of Institutional Property Advisors, a division of …

NKF Arranges Sale of 221,145 SF Creative Office Building in Salt Lake City

SALT LAKE CITY — Newmark Knight Frank (NKF) has arranged the sale of a creative office building located at 324 S. State St. in downtown Salt Lake City. Hamilton Partners and Cantor Equities sold the asset to Mortenson Cos., the real estate investment arm of M.A. Mortenson Cos., for an undisclosed price.The recently renovated, five-story building features 221,145 square feet of creative office space. The property features large floorplates, scenic views, fitness center, adjacent parking …

RED Mortgage Capital Provides $39.3M Loan for Mixed-Income Multifamily Housing in Salt Lake City

SALT LAKE CITY — RED Mortgage Capital has provided a $39.3 million in Federal Housing Administration (FHA) financing for Liberty BLVD, an apartment community located in Salt Lake City. The borrower is Cowboy Properties.Liberty BLVD features 266 mixed-income apartments with a walkable location on the east side of downtown Salt Lake City. Twenty percent of the units are restricted to households earning up to 50 percent of the area median income. The community features 3,900 square feet of …

Lowe Property Group Breaks Ground on $40M Mixed-Use Development in Downtown Salt Lake City

SALT LAKE CITY — Developer Lowe Property Group, architect MVE + Partners and general contractor Zwick Construction have broken ground on 6th & Main, a mixed-use development in downtown Salt Lake City. The eight-story structure will feature 10,100 square feet of commercial space and 141,149 square feet of residential apartments.Totaling 283,936 square feet, 6th & Main will offer 170 market-rate apartments in a mix of modern studio, one- and two-bedroom layouts, a street-level …

Towne Storage Sells 379-Unit Towne Storage Sandy Near Salt Lake City

SANDY, UTAH — Towne Storage has completed the disposition of Towne Storage Sandy, a self-storage facility located off Interstate 15 in Sandy, approximately 20 minutes south of downtown Salt Lake City. Terms of the transaction were not released.Storage…Etc. will rebrand and manage the 60,700-square-foot facility. Built in 1993 and 1997, the property features 379 rentable spaces ranging from 25 square feet to 400 square feet, a leasing office, gated access, digital video surveillance …

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