Salt Lake City—Westcore Properties, an active investor in industrial and office properties throughout the Western United States, acquired an 87,122-square-foot industrial property in Salt Lake City from Los Angeles-based BH Properties for approximately $7.15 million. The acquisition marks Westcore’s entry into the Salt Lake City marketplace.
Located at 4745 Amelia Earhart Drive, the one-story industrial building with cold storage is 100 percent occupied by Criminelli Fine Meats and GE Healthcare.
“Salt Lake City continues to become more attractive to tenants driven out of other markets and seeking a business-friendly environment, educated workforce, lower real estate costs and high quality of life,” said Marc Brutten, chairman of Westcore Properties. “We anticipate continued tenant demand for industrial space as businesses that support other companies – especially tech companies – move to and grow in Utah.”
Bryce Blanchard of Newmark Grubb ACRES represented the buyer and seller in this transaction.
“We are excited to help Westcore build a stellar portfolio of strategic assets in Utah,” said Blanchard, executive vice president at New Mark Grubb ACRES. “The Creminelli building represented an excellent industrial opportunity that is literally in the shadow of the Salt Lake Airport with two outstanding tenants that are highly invested in the real estate.”