Park City, UT high-street retail property sells

Beth Copeland

 SALT LAKE CITY, UT – JLL Capital Markets   closed the sale of and arranged acquisition financing for The Kimball on Main Street, a 25,410-square-foot, fully leased, high-street, mixed-use retail asset with event and office space along the historic Main Street in the popular mountain town of Park City, Utah.

Chris Gerard

JLL marketed the property on behalf of the seller, Southern California-based Columbus Pacific. Stanton Road Capital, LLC acquired the asset. Additionally, working on behalf of the new owner, JLL arranged the acquisition loan.

 

The Kimball on Main Street is the defining trophy asset within Park City due to its irreplaceable location and elite tenancy.

 In 2018, Columbus Pacific completed a large renovation of the property, enhancing its trophy stature within this iconic downtown location while preserving its historic nature. 

The property now features a tenant lineup of popular high-street retailers, including LL Bean, Free People, We Norwegians, The Collective, Summit Gallery and Sunglasses Hut.

Geoff Tranchina

Positioned on 0.43 acres at 639 Main St., The Kimball on Main Street is at a highly visible location between Heber and Park avenues within Park City’s historic downtown. 

Park City is a fast-growing experiential mountain community that hosts the world-famous Sundance Film Festival and is surrounded by Utah’s iconic ski resorts. 

The area is home to the second wealthiest micro-population in the U.S. and contains high barriers to entry and strict zoning for new development.

 

The JLL Retail Capital Markets team representing the seller was led by Senior Managing Directors Chris Gerard, Managing Director Geoff Tranchina, Senior Director Phil Brierley and Analysts Robby Westerfield and Beth Copeland.

Phil Brierley

The JLL Debt Advisory team representing the new owner included Managing Director Chris McColpin and Managing Director Mark Root.

 

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. 

The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. 

The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

 

Robby Westerfield

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About Columbus Pacific

Since 1995, Columbus Pacific has been developing, redeveloping and acquiring Class A properties across the United States.

 Founding partners Brian Shirken and Rick Margolis each have over three decades of commercial real estate experience, with an emphasis on acquisitions, financing, leasing, management, development and operations.

 

About Stanton Road Capital, LLC

Chris McColpin

Stanton Road Capital, LLC (SRC) is a private investment management firm focused on direct real estate investments. With over $2 billion of assets under management, SRC owns and operates a national portfolio comprised of commercial real estate, residential and healthcare assets.

About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. 

Mark Root

JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. 

JLL is a Fortune 500 company with annual revenue of $19.4 billion in 2021, operations in over 80 countries and a global workforce more than 98,000 as of December 31, 2021.

 

JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.

 

Contact:

Kimberly Steele

PR, Capital Markets,

 Agency Leasing and

Valuation Advisory 

JLL

T +1 713 852 3420

M +1 832 244 9994

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