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Salt Lake City — C-A-L Ranch has completed the sale of a 48,000 square foot space in Salt Lake City to Teton Sports. Teton acquired the property with an SBA 504 loan and will occupy the major portion of the building and will lease out 18,000 square feet of space.
Jim Sheldon and Robert Kingsford of Newmark Grubb ACRES facilitated the transaction.
“The general industrial real estate market continues to be characterized by low supply. Long-term planning is more important than ever,” Sheldon said. “Low vacancy concentrates user focus on any existing property, and adds pressure to the land market while catalyzing interest in speculative construction.”