SANDY, UTAH – The Hills at Sandy Station, a 70,000-square-foot luxury apartment complex in Utah, has sold to an unnamed buyer for an undisclosed sum. The community is located at 234 Sego Lily Drive in Sandy, on Utah’s East bench. The Hills was originally built as condos before it went into foreclosure and was ultimately converted into apartments. The initial development contained 61 condos, though the city later approved the development of 146 additional units. The seller, The Hills at Sandy Station LLC, was represented by Mark Jensen and Greg Ratliff of ARA, a Newmark Company.
SALT LAKE CITY – CCI Mechanical has acquired the 77,000-square-foot Cache Valley Electric Facility in Salt Lake City for an undisclosed sum. The facility is located at 2345 S. John Henry Drive. The design-build mechanical contractor specialist will move into the building shortly. CCI was represented by Kyle Roberts of Newmark Grubb ACRES. The seller, Cache Valley Electric, was represented by Lucas M. Burbank of NGA.
SALT LAKE CITY – Haemonetics has signed a 12-year lease for 154,601 square feet of manufacturing space at the Price Bangerter building in Salt Lake City. The Class A space is located at 1555 S. Gramercy Road. This is the blood management firm’s second facility in the region. The new facility will handle its Western United States distribution requirements. Haemonetics was represented by Steve Condie of Newmark Grubb ACRES (NGA) and DTZ’s Kevin Hanna. The landlord, Price Realty Group, was represented by NGA’s Kyle Roberts.
SALT LAKE CITY – Intermountain Hydronics Specialties has leased 13,600 square feet of industrial space in Salt Lake City. The space is located at 1171 West 2400 South. The HVAC equipment manufacturer representative will use the space for their new main office and headquarters. It will be expanding from its current 4,220-square-foot location. Intermountain Hydronics was represented by Robert Kingsford of Newmark Grubb ACRES. The landlord was not named.
SALT LAKE CITY – Spring Mobile has leased 21,538 square feet of office space at Gateway Tech Center in Salt Lake City. The space is located at 155 North 400 West. Spring Mobile was represented by Chris Falk of Newmark Grubb ACRES. The landlord, KBSIII, was represented by CBRE’s Nadia Letey.
LINDON, UTAH – Colmena Capital has acquired the Vivint Industrial Complex, a 366,710-square-foot complex in Lindon, for an undisclosed sum. The complex is located at 500 South 500 West. It is home to Vivint, Aquatherm, Cornerstone and Emergency Essentials. The seller is Stag Industrial. The transaction was executed by Bryce Blanchard of Newmark Grubb ACRES.
PROVO, UTAH — Courtyard at Jamestown, a 132-unit assisted living and dementia care seniors housing community in Provo, has received $24.2 million in acquisition financing. The facility is located at 3352 N. 100 E. The community opened in 1999. It is situated about three miles north of Provo’s Central Business District, just minutes from Utah Valley Regional Medical Center. The borrower was ROC|Seniors Housing Fund Manager. ROC|Seniors is a subsidiary of Bridge Investment Group Partners. The seven-year Freddie Mac loan features a fixed-rate term with an interest-only period. It was structured by Berkeley Point Capital. This is Berkeley Point’s third financing with ROC Seniors over the past year.
DENVER — Clayton Lane, a 335,000-square-foot lifestyle center in the Denver submarket of Cherry Creek, has received $48 million in financing. The center is located at the intersection of East 1st Avenue and University Boulevard, near Cherry Creek Regional Mall. Clayton Lane is 99 percent leased to notable tenants like Whole Foods, Crate & Barrel, Arhaus Furniture, Sur La Table, White House Black Market, A Pea in the Pod, Design Within Reach and Bose. Anchor Whole Foods, along with an adjacent Sears property, will be part of a massive redevelopment that is likely to include multiple uses like office and multifamily. The fixed-rate, 10-year, interest-only loan was arranged by Andrew Stewart and Allison Moravec of Cronheim Mortgage. It was placed with the American General Life Insurance Company and the National Union Fire Insurance Company on behalf of the borrower, AmCap Clayton. Cronheim acted as correspondent and servicer for both lenders.
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.
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.