August 10, 2012

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Southern Utah Industrial Transactions

Press Release

August 10, 2012

The Southern Utah market over the past several months has seen noticeable improvement in the industrial market. Several bank owned and/or short sale properties have been sold with an ever decreasing amount of distressed inventory on the market. 

A local investor decided to capitalize on this opportunity and bought  a bank owned, 1 acre, industrial lot in the Gateway Industrial park. The property will likely go into a hold or development pool for future opportunities. Wes Davis of NAI Southern Utah represented both the buyer and the seller in the transaction.

In a separate transaction in the Gateway Industrial Park, Wes Davis facilitated the sale of an 8 acre parcel with 16,000 square feet of office/warehouse and 36,000 square feet of storage units.

The property was acquired by a local property investor looking for opportunities to generate cash flow and also buy assets that would appreciate over time. It was purchased at well under half of what it cost to originally build.

The facility was at about 60 percent occupancy upon transfer of title.

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