First Industrial Sells Two SLC Industrial Buildings
- May 26, 2017
Newmark Grubb ACRES arranged the sale of two industrial buildings in Decker Lake Industrial Park in West Valley City, Utah. NGA Vice President Greg Ratliff represented the buyer, a nationwide investor with multiple multifamily properties in Salt Lake City. NGA’s Executive Vice President Bryce Blanchard and Senior Vice President Lucas Burbank represented the seller, First Industrial.
Located at 2064 and 2100 W. Alexander St., just off Interstate 215 and Highway 201, with easy access to interstates 80 and 15, these multi-tenant buildings total 98,000 square feet and are fully occupied. The buildings were built in 1995 and 1991, respectively. The two properties are the buyer’s first local flex acquisitions.
“It was a pleasure to work with this distinguished group to diversify their commercial real estate portfolio in the greater Salt Lake area,” said Ratliff in prepared remarks. “They performed admirably through the entire transaction process.”
First Industrial’s Salt Lake City portfolio is now limited to just one property—a 122,900-square-foot building from 1972, located at 2323 S. 900 W.
Image courtesy of NGA