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NKF Handles Off-Market Sale of SLC Industrial Facility
NKF Capital Markets completed the $37.2-million sale of a two-building, 426,866-square-foot industrial property in Salt Lake City. Located at 3845-3907 West Ninigret Dr., the facility is 100% occupied by Metro Logics, a third-party medical logistics firm.
NKF Capital Markets Kevin Shannon and Bret Hardy represented the seller, AEW in the off-market transaction. Newmark Grubb ACRES’ Kyle Roberts of represented the buyer, Price Real Estate.
The single-tenant buildings were built in 2008 and 2010 respectively, and the project is situated on 19.84 acres.
Hardy says, “The quality of the real estate, combined with the long-term lease and the tenant’s capital commitment to the property, makes this a great long-term investment for Price. Moreover, the timing of the sale was perfect for AEW and the final execution exceeded expectations.”
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- ◦Sale/Acquisition