4000 South Industrial Park Sold
Utah’s industrial investment market continues to be active, including the most recent sale of 4000 South Industrial Park to River Springs Ranch Corporation. This 60,595 SF asset consists of three buildings located at 4030, 4036 and 4050 South 500 West in Salt Lake City, Utah. This is the second acquisition by this California investor, who is looking to exchange out of their west coast product into the more stable Utah market.
Executive Vice Presidents Bryce Blanchard and Zach Anderson of Newmark Grubb ACRES represented the buyer, River Springs Ranch, in this transaction. Senior Vice Presidents Mark Jensen and Jeff Heaton SIOR, CCIM, along with Vice President of Sales Robert Kingsford, also of Newmark Grubb ACRES, represented the seller, 4000 S Industrial Park, LLC.
When speaking on the transaction, Jensen commented, “The sale of 4000 South represents the current robust investment environment in Salt Lake City. Sellers have been able to achieve record breaking pricing, while buyers are able to purchase quality assets and put capital to work in a strong market. There is an insatiable appetite from investors for quality assets in this market, and we are excited to see that trend continue.”