SALT LAKE CITY — Newmark Mountain West, the leading full-service commercial real estate brokerage in the Intermountain Region, is pleased to announce the investment sale of a 98,820-square-foot industrial building on Parkland Drive in Sandy, Utah to ARKA Properties Group. The building was previously owned by a private Southern California developer. Lucas M. Burbank, Jeff Heaton, Kyle S. Roberts, and Kelsie Akiyama of the DRAY Logistics Group at Newmark Mountain West represented both the buyer and seller.
“It was a pleasure to work with both the buyer and seller on this transaction,” stated Lucas M. Burbank, Executive Managing Director for Newmark Mountain West. “This is an excellent addition to the ARKA Properties Group’s portfolio which totals just over 11 million square feet, of which the Salt Lake portfolio represents more than 2 million square feet.”
This Class A industrial facility is equipped with 32’ height clearance, sixteen dock high loading doors, and much more. This brand-new facility is 100% occupied by tenants Pella Windows, an Iowa-based manufacturer producing high-quality windows and doors, NanoYield, an agricultural technology company that specializes in advanced nanotechnology solutions designed to improve crop input efficiency, and Artisan Design Group (ADG) which was recently acquired by Lowe’s and specializes in interior finishes including flooring, cabinets and countertops. All tenants are serving long-term leases well past 2030.
About ARKA Properties Group
ARKA is a private, family-owned and operated real estate investment company with over 50 years experience. ARKA was created in 1988 as a spin-off from the family’s original company, KB Management Co., co-founded in 1955 by the late Arthur and Rosalie Kaplan. ARKA specializes in industrial and commercial single tenant, net-leased investments. However, the portfolio is diversified through its numerous multi-tenant buildings and multi-family units (government contracted affordable housing) in 17 states.
About Newmark Mountain West
Newmark Mountain West, an independently owned and operated member of the Newmark Licensee Group, delivers a comprehensive suite of commercial real estate services across Utah, Idaho, Nevada, Wyoming and Montana. With nearly 200 professionals in ten offices, the firm leverages Newmark’s (Nasdaq: NMRK) global platform to power every stage of the property life cycle for occupiers, investors, and developers.