Lincoln Property Company Purchases Class A Salt Lake City Distribution Facility

201 Commerce Center, Building 6 totals
307,940 SFon 17.9 acres with 32 ft. clear height,
 excellent truck circulation and abundant loading.

  

Rebecca Perlmutter

 

San Francisco –- CBRE National Partners arranged the sale of a Class A distribution facility in Salt Lake City, Utah to Lincoln Property Company, a global, full-service real estate firm. The price was not disclosed.

Darla Longo

Rebecca Perlmutter, Brett Hartzell, Tom Dischmann, Matt McAfee, Darla Longo, Barbara Perrier, Joe Cesta, Paige ,Morgan Michael Longo and Eric Cox of CBRE National Partners represented the seller.

 

Barbara Perrier

“The combination of a strong workforce, excellent quality of life and a well-built, very functional distribution building attracted strong investor demand and resulted in a successful sale,” said Perlmutter, Vice Chairman at CBRE. 

Paige Morgan

The Class A distribution facility known as 201 Commerce Center, Building 6 totals 307,940 sq. ft. on 17.9 acres with 32 ft. clear height, excellent truck circulation and abundant loading. The building is 100% leased to four tenants with below market rents and 2.6 years of weighted average lease term remaining.

Michael Longo 

“We are very pleased to add this highly functional, multi-tenant building to our client’s portfolio,” said Gary Kobus, Senior Managing Director at Lincoln Property Company. “Salt Lake City is rapidly-growing and a target market for us going forward.

Gary Kobus

"This building’s location and access will allow our tenants to continue to benefit from the many favorable attributes that Salt Lake City has to offer.”

Brett Hartzell

The West Valley submarket of Salt Lake City had a vacancy rate of 2.2% in the third quarter this year, below the 4.6% market average, according to CBRE Research.

Tom Dischmann

Leasing activity was strong in Q3, with year-to-date leasing volume reaching nearly 9 million sq. ft. in 2023, positioning it as the second-highest year in leasing activity in the market’s history.

Matt McAfee,

“This sale is reflective of the continued strong investor demand in the solid, dynamic market that is Salt Lake City,” said CBRE Vice Chairman Brett Hartzell. 

CONTACTS:

 

Olivia Vallone (she/her)
Communications Specialist

CBRE | Corporate Communications
C +1 847 691 9144
Olivia.Vallone@cbre.com | LinkedIn

 

Samantha Cheung

+1 415 772 0138

Samantha.Cheung@cbre.com