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Salt Lake City-Area Retail Center Trades for $142M
A majority of The Shops at Fort Union in Midvale, UT, a submarket near Salt Lake City, has sold for $142 million. CCA Acquisition Company, LLC picked up 688,549 square feet of the overall 830,000-square-foot regional shopping center from an undisclosed seller.
The 86%-occupied center is home to such national retailers as Smith’s Food & Drug, Walmart Supercenter, Dick’s Sporting Goods, Ulta, Ross Dress for Less, Michaels, and shoe retailer, DSW. Built in 1974 and situated on nearly 110 acres in total, the property is located at S. Union Park Avenue and E. Fort Union Boulevard at 900 Fort Union Blvd. The asset is strategically positioned at the confluence of Interstate 15 and Interstate 215.
NKF Capital Markets’ Pete Bethea, Rob Ippolito and Glenn Rudy, acting in cooperation with local partner NKF affiliate Newmark Grubb ACRES’ Ben Brown, represented the seller. The buyer was self-represented.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition

