Newmark Leases Westport Distribution Space to Exel Inc.
Newmark Grubb ACRES is pleased to announce a ten year lease of 227,430 square feet at the Westport Distribution Center to Exel Inc. The building, owned by Industrial Income Trust (IIT) is located at 6050 West 700 South in Salt Lake City, Utah.
Executive Vice Presidents Steve Condie and Zach Anderson orchestrated the transaction, representing both Exel and IIT, which was also represented by Vice President Lucas M. Burbank.
Exel is the leading contract logistics provider of customized supply chain solutions with more than 500 sites throughout the United States, Canada, and Latin America.
Industrial Income Trust is a non-traded real estate investment trust (REIT) that acquires and operates high-quality distribution warehouses and other industrial properties. Their portfolio of 283 properties totals over 60 million square feet.