Stos Partners recently acquired a 279,233-square-foot industrial complex situated on 14.53 acres at 900 W 2900 in Salt Lake City, Utah for $35 million. The company plans to quickly find new tenants and implement a capital improvement plan.
Leading the leasing efforts for the complex will be Eli Priest of Newmark, who has been hired by Stos Partners. The acquisition was facilitated by Alex Harrold from Mathews Real Estate.
According to JLL’s Q2 Salt Lake City Industrial Report, there was an impressive amount of leasing activity in the second quarter of this year with over 2.5 million square feet leased out – with logistics and distribution making up about 81% of that total – further highlighting the potential success for Stos Partners’ latest acquisition as stated by Morgan Hill.
The location boasts easy access to major freeways such as I-15, I-80,I-215,and SR-201; it is also conveniently located just ten miles away from Salt Lake City International Airport.
Some notable features include a clear height of twenty-two feet along with forty-nine dock high doors and eighteen drive-in ground level doors – all contributing factors that make this property highly competitive within its market.
