Sandy Commerce Park got here on-line in 2017. Picture courtesy of JLL
Nuveen Actual Property has bought Sandy Commerce Park, a 121,197-square-foot Class A artistic workplace constructing in Sandy, Utah, a Salt Lake Metropolis suburb. The customer, Alturas Capital Companions LLC, took out a $13 million, five-year acquisition mortgage from life insurance coverage firm Symetra, public information present. JLL represented the vendor within the transaction and organized the financing on behalf of the borrower.
Accomplished in 2017, the property is totally leased to eight tenants, with the common weighted lease time period reaching 3.7 years. Among the tenants embrace Momentum Loans, Colonial Life and SeniorCare Advantages.
The Class A workplace constructing rises 5 tales with a mean floorplate of 25,000 sq. ft. The property options three passenger elevators, floor-to-ceiling glass, bike storage and a few 600 parking areas.
Situated on 6.5 acres at 9490 S. 300 W. within the Silicon Slopes submarket, the property is near a number of retail and eating choices, equivalent to The Outlets at South City and a Walmart Supercenter. Downtown Salt Lake Metropolis is a few 14 miles northeast, whereas Salt Lake Metropolis Worldwide Airport is eighteen.6 miles away.
The JLL Funding Gross sales and Advisory workforce that represented the vendor included Senior Director Phil Brierley and Director Cole Macadaeg. The JLL Debt Advisory workforce that organized the financing for Alturas Capital Companions comprised Managing Director Mark Root and Director Will Haass.
