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Phoenix & Southwest  + Southwest  + Industrial  | 

Carvana Makes Sizeable Expansion into Utah

Since the 90s, the Ninigret Group has spearheaded some of Salt Lake County’s most significant industrial developments in the northwest quadrant. This includes Ninigret Depot in Tooele, where Carvana, an innovator in the online auto sales industry, recently acquired 107.47 acres. With a market capitalization of more than $45 billion, Carvana has been extremely active in growing its portfolio since going public in 2017.

This transaction was facilitated by Newmark Knight Frank and Fischer & Company.

This noteworthy sale represents the latest in a long list of prominent companies that have expanded at this former Army Depot. Rebranded and upgraded in 2012 under the leadership of Randy Abood, the Ninigret Depot is a low-cost alternative to Salt Lake County. The property is located only 30 minutes from Salt Lake City’s International Airport and adjacent to I-80.

The transaction adds Carvana to a list of users that Ninigret has landed or expanded including Detroit Diesel, Utah Fabrication, Cabela’s, AirGas and LKQ.

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About Lisa Brown

Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM. In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.

  • ◦Acquisition
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