{"id":1004202485,"date":"2018-01-05T05:51:42","date_gmt":"2018-01-05T13:51:42","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004202485"},"modified":"2022-12-08T17:57:11","modified_gmt":"2022-12-09T01:57:11","slug":"aew-sells-salt-lake-city-industrial-asset-for-37m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/aew-sells-salt-lake-city-industrial-asset-for-37m\/","title":{"rendered":"AEW Sells Salt Lake City Industrial Asset for $37M"},"content":{"rendered":"<p>By Evelyn Jozsa<\/p>\n<div id=\"attachment_1004202486\" style=\"width: 335px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/Ningret-Metro-Logics.png\" target=\"_blank\" rel=\"noopener noreferrer\"><img decoding=\"async\" aria-describedby=\"caption-attachment-1004202486\" data-attachment-id=\"1004202486\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/aew-sells-salt-lake-city-industrial-asset-for-37m\/ningret-metro-logics\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/Ningret-Metro-Logics.png\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Ningret &#8211; Metro Logics\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Ningret &#8211; Metro Logics&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/Ningret-Metro-Logics.png?w=800\" loading=\"lazy\" class=\"wp-image-1004202486 \" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/Ningret-Metro-Logics.png\" alt=\"Ningret - Metro Logics\" width=\"325\" height=\"266\" \/><\/a><p id=\"caption-attachment-1004202486\" class=\"wp-caption-text\">Ningret &#8211; Metro Logics<\/p><\/div>\n<p>NKF Capital Markets has arranged the sale of a two-building, 426,866-square-foot industrial facility in Salt Lake City, for $37.2 million. NKF\u00a0Capital Markets worked on behalf of the seller, AEW, and Newmark Grubb ACRES represented the buyer, Price Real Estate, in the off-market transaction.<\/p>\n<p>At 3845-3907 W. Ninigret Drive, the facility is situated near the Belt Route, Interstate 80 and 2100 S. Freeway. Built in 2008 and 2010, the\u00a0property occupies 19.8 acres and is fully occupied by Metro Logics, a third-party medical logistics firm. According to Newmark Grubb ACRES research, vacancy has remained low in the Salt Lake County industrial market, while average lease rates and sale prices per square foot have increased in the past several quarters.<\/p>\n<p><em>&#8220;The quality of the real estate, combined with the long-term lease and the tenant&#8217;s capital commitment to the property, makes this a great long-term investment for Price. Moreover, the timing of the sale was perfect for AEW and the final execution exceeded expectations,&#8221; <\/em>said Bret Hardy, executive managing director at NKF\u00a0Capital Markets.<\/p>\n<p>Bret, together with President Kevin Shannon, represented the seller, and Executive Vice President Kyle Roberts of Newmark Grubb ACRES worked on behalf of the buyer.<\/p>\n<p>In December, AEW acquired a\u00a01 million-square-foot facility, Southwest <a href=\"https:\/\/www.commercialsearch.com\/news\/aew-capital-management-nabs-1-msf-industrial-park\/\">Commerce Center in Reno<\/a>, Nev., for $93.2 million.<\/p>\n<p><em>Image courtesy of\u00a0NKF Capital Markets\u00a0<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>NKF Capital Markets brokered the off-market sale of the 426,866-square-foot facility, which is fully occupied by Metro Logics, a third-party medical logistics firm. <\/p>\n","protected":false},"author":871,"featured_media":1004202486,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21748,21783,21742,1606,15],"tags":[33758,34460,36007],"class_list":["post-1004202485","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-industrial","category-investment","category-latest","category-salt-lake-city","category-west","tag-aew-capital-management","tag-newmark-grubb-knight-frank","tag-newmark-knight-frank"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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