WEST VALLEY CITY, UTAH — X Development and Midloch Investment Partners have acquired Highbury at Lake Park, a Class A retail center in West Valley City, a suburb approximately 10 miles southwest of Salt Lake City. An undisclosed seller sold the asset for $30 million.
Located at 5600 West, Highbury at Lake Park features 119,366 square feet of retail space. Current tenants include Target, Bank of America, Xfinity, Freddy’s Frozen Custard & Steakburgers, Marshalls and Café Rio.
Kip Paul of Cushman & Wakefield facilitated the transaction. The buyers financed the transaction with a fixed-rate loan from America First Credit Union. Midloch is a preferred equity investor in the property, which is the firm’s first investment in the Salt Lake City market.