Salt Lake City, UT — Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, coordinated the $34,990,000 sale of a multi-tenant industrial park located at 900 W 2900-3100 S, Salt Lake City, UT. Associate Eric Roggio, Associate Vice President Brett Davis, and Senior Vice President and Senior Director Alexander Harrold handled the transaction.

 

The property features 279,233 square feet on over 14 acres. The agents secured multiple competitive off-market offers for the value-add opportunity.

 

“We are grateful for the opportunity to assist the sellers in creating a competitive off-market bidding environment for this project,” Davis said. “We were able to source several strong offers from credible investors within the space, which allowed us to not only execute at a great price but also accomplish the overarching goals for the seller. This was truly a win-win scenario for both buyer and seller.”

 

The industrial park was purchased by STOS Partners, a private investment firm based out of California.

 

“Being their first purchase in Salt Lake City, this was a great opportunity for STOS to plant their flag in the SLC market. With the growth of e-commerce, logistics, and manufacturing, Salt Lake City continues to strengthen as a key market for industrial users. Following a planned capital improvement program, STOS will benefit from adding value and stabilizing a generational asset in a core market,” Harrold said.

 

“This deal was certainly a unique opportunity in a great location with strong intrinsic fundamentals,” Roggio said. “There was a great story to be told when sourcing off-market offers for the seller, given that they were the original developer and sole owner of the property for over 40 years. All parties involved worked extremely diligently and efficiently from start to finish to ensure that this deal crossed the finish line.”

 

For more information or to contact a Matthews™ specialized agent, please visit www.matthews.com.

 

About Matthews™

Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, holds recognition as an industry leader in investment sales, leasing, and debt and structured finance. Based out of Nashville, TN, and strategically positioned with over 1,000 agents and employees in 25+ offices across the United States, Matthews™ continues to focus on expansion into new markets. For more information, please visit www.matthews.com.

 

PRESS CONTACT

Kaylee Stock
(602) 218-5213
[email protected]