 |
| 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
|
For more news, videos and research resources on
JLL, please visit our newsroom.
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
JLL.com
