Sunday, November 9, 2025
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OfficeUtahWestern

Traeger Wood Pellet Grills Leases Space in Salt Lake City

by Nellie Day

SALT LAKE CITY – Traeger Wood Pellet Grills has leased 28,740 square feet at Wilmington Gardens in the Salt Lake City submarket of Sugar House. The new mixed-use project will be located at 1215 East Wilmington Ave. It will contain 75,000 square feet of office and 25,000 square feet of retail, in addition to 100 condo and apartment units. It is expected to be completed this March. The developer is Wilmington Gardens Group, a partnership between Woodbury Corporation, Colmena Group and Dee’s Inc. Traeger was represented by Aaron Jones of Newmark Grubb Acres.

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OfficeUtahWestern

Hales Engineering Buys Office Building in Lehi

by Nellie Day

LEHI, UTAH – Hales Engineering has purchased 5,400 square feet of office space in Lehi for an undisclosed sum. The space is located at 1220 North 500 West. The new location will be used for the civil engineering company’s headquarters and main offices. Preston Davis and Kevin Ford of Newmark Grubb ACRES represented both the buyer and seller, Wells Fargo Bank, in this transaction.

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IndustrialUtahWestern

Precision Heating and Cooling Leases Space in Salt Lake City

by Nellie Day

SALT LAKE CITY – Precision Heating and Cooling has leased a 15,000-square-foot manufacturing warehouse in Salt Lake City. The building formerly served as the headquarters of Neilco. It is located at 5780 South 300 West. The commercial heating and cooling contractor plans to use the space as its main Utah headquarters. Robert Kingsford of Newmark Grubb ACRES represented both the tenant and unnamed landlord in this transaction.

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LoansRetailUtahWestern

The Family Center at Taylorsville Receives $45M in Financing

by Nellie Day

SALT LAKE CITY — The Family Center at Taylorsville, a 779,000-square-foot regional power center, has received $45 million in post-closing acquisition financing. The center is located at 5400 South and Redwood in the suburb of Taylorsville, less than nine miles south of Downtown Salt Lake City. Notable tenants at the Family Center include Jo-Ann Fabrics & Craft, Ross Dress for Less, Pet Smart, 24-Hour Fitness, Shopko, Guitar Center, Texas Roadhouse, Jamba Juice and Chick-fil-A. The three-year, floating-rate loan was arranged by HFF’s Jim Curtin on behalf of TriGate Capital. The loan was provided by Wells Fargo Bank. Proceeds were used to acquire the center.

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RetailUtahWestern

South Towne Center Mall, Marketplace in Sandy Sell for $205M

by Nellie Day

SANDY, UTAH – A partnership between Pacific Retail Capital Partners, Silverpeak Real Estate Partners and the Merchant Banking Division of Goldman Sachs has acquired the 1.3 million-square-foot South Towne Center Mall and adjacent Marketplace in Sandy for $205 million. The 966,000-square-foot South Towne Center Mall is a two-level, enclosed regional mall that contains about 150 shops and restaurants. The mall’s anchors include Macy’s, Dillards, JCPenney and Utah’s largest Forever 21. The 312,000-square-foot Marketplace is anchored by Super Target. The properties are situated about 16 miles south of Salt Lake City. The partnership plans to execute a large-scale mall renovation. Gensler Associates will create the new design. Current plans feature upgrades to the mall’s infrastructure, including lighting, flooring, restrooms, a new children’s play area and a revamped food court with expanded food offerings. Pacific Retail will oversee all operations at South Town Center, including its renovation. The seller was Macerich. The sale is consistent with the company’s strategy of selling non-core assets and redeploying the proceeds into its development pipeline.

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LoansMultifamilyUtahWestern

Midtown360 Apartment Development in Orem Receives $56.5M in Financing

by Nellie Day

OREM, UTAH – Midtown360, a 594-unit multifamily development in Orem, has received a $56.5-million senior loan. The loan will finance the acquisition, development and stabilization of the project. The community will be located at 320 South State Street, just 40 miles south of Salt Lake City. It is situated in a very student-dense area, with about 70,000 college students residing in Orem and Provo. Phase I of Midtown360 will include 286 units in two mid-rise towers, in addition to 50,000 square feet of retail space. Common amenities will include a study lounge, business center, rooftop deck, clubhouse, fitness center, pool and basketball court. Phase I construction should be completed in 18 months. Phase II will include 308 units in a third tower. Construction on this phase is expected to commence in about two years. Construction on this project initially commenced before the recession. At the time, it was called Midtown Village. The developer partially completed 40 of the units before construction was halted in 2008. The new loan was provided to The Ritchie Group by PCCP LLC.

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MultifamilyUtahWestern

Gelt Buys Murray Ridge Apartments in Salt Lake City for $25.5M

by Nellie Day

SALT LAKE CITY – Gelt Inc. has purchased the 247-unit Murray Ridge Apartments in Salt Lake City for $25.5 million. The 22-building community is located at 4120 South 500 East. Murray Ridge was developed in two phases in 1973 and 1977. On-site amenities include a fitness center, clubhouse, barbeque areas, business center and swimming pool. The community is situated near Interstate 15. It is within five miles of all major Salt Lake City interstates. Murray Ridge sits just one mile from the Meadowbrook UTA Trax Station and the Murray North Trax Station.

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IndustrialUtahWestern

Lofgren Distribution Warehouse in Salt Lake City Trades Hands

by Jaime Lackey

SALT LAKE CITY — Lofgren Distribution Warehouse, a 40,328-square-foot industrial building in Salt Lake City, has sold to Engineered Wall Systems (EWS) for an undisclosed sum. The building is located at 250 West 2855. The exterior wall panel systems provider will use the facility as its new company headquarters. EWS was represented by Kelsie Akiyama of Newmark Grubb ACRES. The seller, Lofgren Funiture, was represented by Robert Kingsford of Newmark Grubb ACRES.

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Market ReportsUtahWestern Market Reports

Salt Lake City Retail: Strong and Getting Stronger

by admin

Retail business continues to be solid in greater Salt Lake City. Total net absorption in all retail categories doubled, when compared to 2012. High-end retail in regional centers saw a 20 percent increase in rents to $24.50 per square foot. Retail inventory increased to a little more than 1 million square feet in 2013 as well. Significant growth areas include new retail in the eclectic Sugarhouse area, the southwest portion of Salt Lake County and the 5600 West corridor. New development also took place in the Central Business District of Salt Lake City. Shadow retail near the new City Creek Mall is fostering some of the Central Business District activity as well. Utah’s excellent light and commuter rails have spurred retail and commercial developments alongside their routes through four counties. Examples include a redevelopment project at Fairbourne Station in West Valley City and the expansion of Vista Station in Salt Lake County. Vista Station is a mixed-use development that is anchored by eBay. Many grocery tenants also have expansion plans for 2014 and 2015. WinCo, Harmon’s, WalMart Neighborhood Grocery, Whole Foods, Sprouts and others all either have plans or are underway with new projects. Large and mid-box retailers are very …

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