Mountain West Commercial Real Estate Brokers 20 Year Lease to Maverik Inc.
Mountain West Commercial Real Estate (MW) is pleased to announce a 20 year ground lease to Maverik Inc. The site will be the location for a new Maverik gas station and convenience store in the Riverwalk Shopping Center, which is located at 7168 South Bingham Junction Boulevard in, Midvale, Utah.
Maverik is a popular convenience store chain that has grown significantly since its humble beginnings in 1928. Their first location was a two-pump station in Afton, Wyoming; the company now boasts more than 270 locations across 10 western states, and continues to flourish and expand.
Retail specialists Garrett Blomquist and Scott Brady of MW represented the lessor in this notable transaction that took nearly two years to complete. Despite all parties being in agreement in its initial stages, the deal was delayed for more than a year. When the deal was eventually revived, development had significantly risen and boosted traffic and attractiveness of the pad for Maverik.
The impressive lease will be situated on one of the prime corners of a Winco and Top Golf anchored development and will be located next to a 1,000,000 square foot Class A office park. “Maverik is an excellent user for this pad,” commented Blomquist. “This addition will bring another valued retailer and amenity to both the large daytime workforce, as well as to surrounding residential developments in this rapidly growing Midvale area.”