GFI Realty Services has closed on the $14.25 million sale of 6941 W 2100 South, a development site located in West Valley, UT.
The GFI Realty team of Joshua Peck and Susan Annis represented the buyer, Invesco Ltd in the deal with the St. Louis based developer Sansone Group.
The 25-acre parcel will be developed into two industrial buildings totaling approximately 400,000 s/f. The development is located off Hwy 201 within minutes of I-80 offering access to Salt Lake City and the main arteries connecting it to the rest of the nation.
With its centralized location, Salt Lake City is a main distribution point for the entire Western half of the continental United States. All major MSAs West of the Mississippi can be reached within 24 hours.
“Venturing into new markets as well as diversification of asset types is always a great business strategy and this will be the second such transaction in as many months for our client,” said Peck.
“Salt Lake City is a dynamic marketplace where demand for its industrial inventory has taken off and we are glad to be able to help our client corner this market,” said Annis.
Invesco Ltd, is an Atlanta based investment management company with branch offices in 20 countries.
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