Gardner Batt Divests of 347,290 SF Logistics Portfolio Near Salt Lake City for $187.7M

by Amy Works

SALT LAKE CITY AND AMERICAN FORK, UTAH — Gardner Batt has completed the disposition of a 347,290-square-foot, Class A industrial portfolio near Salt Lake City to a joint venture between Greenlaw Partners and Mirae Asset Global Investments for $187.7 million.

Jeff Chiate, Mike Adey, Brad Brandenburg and Matthew Leupold of Cushman & Wakefield’s National Industrial Advisory Group, along with Tom Freeman and Travis Healey of Cushman & Wakefield’s Salt Lake City office, represented the seller in the transaction.

The portfolio consists of a 201,096-square-foot facility situated on 56 acres at 989 W. Center St., which was delivered in 2021, and a 146,194-square-foot property at 398 E. 1100 South St. in American Fork, which was delivered in 2020. Both facilities feature 40-foot clear heights, excess van/trailer parking, ample loading and ESFR sprinklers. The last-mile facilities are both fully leased to a Fortune 10 global e-commerce company.

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