Salt Lake City, UT
The Dana Building, a 363,996 square foot industrial property located in West Jordan, Utah was recently sold for $30.1 million by an affiliate of The Ninigret Group. The property is located in Utah’s South Salt Lake County industrial real estate corridor and was acquired by the Ninigret Group in 2010 for $13.7 million and refinanced in 2014.
Newmark Knight Frank handled the sale on behalf of The Ninigret Group. NKF Executive Managing Directors Bryce Blanchard, Kyle Roberts and Lucas Burbank represented both the seller and the buyer, ARKA Properties Group, Inc. The property is occupied by Visible SCM Logistics, a leading supply chain management company.
“This sale further validates industrial market strength and investor demand for industrial acquisition opportunities in Salt Lake City and in Utah, overall,” stated Blanchard. “The institutional-quality big box asset garnered interest from industrial investors all over the country. ARKA was chosen from a deep field of prospective buyers and executed quickly.”