Newly Constructed Industrial Has NWQ Appeal

A newly constructed 628,611-square-foot class-A industrial project in West Valley City, UT recently sold to Chicago-based Walton Street Capital for an undisclosed price. Built in 2021, the three-building multi-tenant property known as 201 Mountain View Park is situated in Salt Lake City’s Northwest Quadrant (NWQ).

The seller was the joint venture of Hines and a global investment firm. Cushman & Wakefield’s Kip Paul, Michael King, Jeff Chiate and Mike Adey represented the seller.

“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 Paul. “Utah is a strategic location and key hub as well as a centralized distribution location between Canada and Mexico.”

Located at 6252, 6312 and 6368 W. Beagley Rd. on 41.5 acres, 201 Mountain View Park provides freeway accessibility to Interstates 15, 80 and 215. NWQ is home to Union Pacific’s Intermodal Facility, the recently expanded $4.1 billion Salt Lake City International Airport, and the 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,” said Chiate.