The Region’s Single-Tenant Commercial Investment Market Remains Active
Newmark Grubb ACRES is pleased to announce the investment sale of the following three single-tenant buildings in the last week: Sportsman’s Warehouse in Pocatello, Idaho; Clear Satellite in Orem, Utah; and Broadview University in West Jordan, Utah. Bryce Blanchard was the lead agent on the three individual transactions which features entities from New York, California, Utah and Idaho. Two of the three deals were 1031 Exchange transactions and the leases featured terms of 10, 14 and 20 years respectively.
Blanchard stated, “This continuing level of high activity is due to investor confidence and national recognition of Utah’s dynamic business climate, continuing low interest rates, increasing rental rates, declining vacancy rates, and poor yields available in alternative investments.”