Faris Lee Negotiates $8.6M Sale of Garden Square Shopping Center in Midvale, Utah
MIDVALE, UTAH — Faris Lee Investments has arranged the sale of Garden Square, a neighborhood shopping center in Midvale. The asset traded hands for $8.6 million. The names of the buyer and seller were not released.
Garden Square features a combination of low-rent-paying local and regional tenants, allowing for an acquisition well below replacement cost, high in-place yield and strong upside potential in a market with excellent economic fundamentals, according to Faris Lee.
Nick D’Argenzio, Tom Chichester and Joe Chichester of Faris Lee Investments represented both sides in the transaction.