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Salt Lake City—Newmark Grubb ACRES is pleased to announce the investment sale of the 61,800 square foot Nutty Guys industrial building located at 3528 West 500 South in Salt Lake City, Utah.
Jeff Heaton, CCIM, SIOR, and Eli Priest of Newmark Grubb ACRES represented the seller, Badger Milkers LC, in the transaction. The buyer was an investment firm. This significant deal reflects the strength of the current investment market as the industrial space which had typically been marketed to owner users ended up presenting as a great investment opportunity instead.
In regards to the acquisition Mr. Priest commented, “This deal took a lot of work, but after showing the investor how to turn the space into a multi-tenant building, as well as showing how the rents could make it easily cash flow, we were able to sell this at a price agreeable to both parties.”