This transaction marks one of the largest ever single-building industrial property sales in Salt Lake City.
A biotechnology firm sold the Class A property in a sale-leaseback transaction.
A biotech firm extended its local footprint by 100,000 square feet.
JLL represented the owners as well as the tenant of the newly constructed building within Tejon Ranch Commerce Center.
With the assistance of Cushman & Wakefield, the landlord signed a lease renewal for 126,800 square feet.
CommercialEdge data shows the assets previously traded in 2015 for a combined $40.6 million.