Walton Street Capital buys new 628,600 SF Class-A Industrial Park
Salt Lake City — Cushman & Wakefield has brokered the disposition sale of a newly constructed 628,611-square-foot Class A industrial project in West Valley City (Salt Lake City), Utah. Built in 2021, the three-building, multi-tenant property known as 201 Mountain View Park is situated in Salt Lake City’s premier Northwest Quadrant (NWQ).
Chicago-based Walton Street Capital acquired the asset from the joint venture of Hines and a global investment firm for an undisclosed price.
Kip Paul and Michael King with Cushman & Wakefield’s Capital Markets in Salt Lake City together with Jeff Chiate and Mike Adey of Cushman & Wakefield’s National Industrial Advisory Group represented the seller in the transaction.
“This was a tremendous and rare investment offering of a new state-of-the-art industrial asset of scale that is well located in Salt Lake City’s NWQ, one of the most dynamic industrial real estate corridors in the West, and consists primarily of strong credit tenants,” said Kip Paul, Vice Chairman. “Utah is a strategic location and key hub in the West, as well as a centralized distribution location between Canada and Mexico.”
Located at 6252, 6312, and 6368 W Beagley Rd and situated on approximately 41.5 acres, 201 Mountain View Park provides superior freeway accessibility to Interstates 15, 80, and 215, and premium construction with modern features including 32 to 36-foot clear heights, ground level and dock high doors, ample power, rear loading, and on-site trailer parking.
The Northwest Quadrant is home to Union Pacific’s Intermodal Facility, the recently expanded Salt Lake City International Airport that recently completed Phase I of a $4.1 billion renovation and the major transportation corridors of I-15 and I-80.
“Industrial product, and in particular high quality, well-leased properties, remain in high demand by investors due to the continued robust tenant activity happening across many of the sector’s industries and as supply remains limited—developers are also actively looking to build more Class A product across the country, including in the red hot Salt Lake City metro,” says Jeff Chiate, Vice Chairman.