Newport Grows Footprint With Small-Bay Salt Lake City Campus

Newport National Corp. has acquired Hobble Creek Business Park, a 260,000-square-foot, three-building industrial campus in Springville, Utah. The property came online in 2023 and is 98 percent leased.

Thrive Development sold the small-bay park for $96.8 million, according to Yardi Matrix information.

Sundance Bay provided acquisition financing, as well as construction funding for three other planned structures.

The loans for the existing buildings totaled $67.8 million, the same data provider shows.

Current tenants at the campus include Launch Fulfillment and EcoSwift, among others.

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Located at 1156 N. 1750 W., 1710 W. 1000 N., and 1290 N. 1750 W., Hobble Creek Business Park sits on roughly 32 acres. The property is just off Interstate 15 and has access to Salt Lake City, central and southern Utah. Provo Airport is less than 6 miles southwest.

An expanding Utah campus

Newport National Corp. aims to develop two other structures at the campus later this summer—Building 5 and Building 6, totaling 140,000 square feet. In addition, a 90,000-square-foot building will be taking shape at the park within two years. Once completed, Hobble Creek Business Park will comprise about 500,000 square feet across six buildings.

The three existing industrial developments encompass 67,200, 100,800 and 92,400 square feet, respectively. The buildings feature 28-foot clear heights and include a total of 69 dock-high doors, 25 grade-level doors and roughly 360 parking spaces. The small-bay units range from 6,000 to 8,000 square feet. Upon delivery, Building 5 and Building 6 will add 35 grade-level doors, 19 dock-high doors and 230 parking spots.

Newport will manage development, leasing, and day-to-day operations at the park.