{"id":1004741159,"date":"2024-12-18T03:44:58","date_gmt":"2024-12-18T11:44:58","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004741159"},"modified":"2024-12-20T00:38:48","modified_gmt":"2024-12-20T08:38:48","slug":"stag-industrial-picks-up-salt-lake-city-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/stag-industrial-picks-up-salt-lake-city-asset\/","title":{"rendered":"STAG Industrial Picks Up Salt Lake City Asset"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/DBF3BD1-e1734516674769.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"2274\" height=\"1706\" data-attachment-id=\"1004741164\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/stag-industrial-picks-up-salt-lake-city-asset\/dbf3bd1\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/DBF3BD1-e1734516674769.jpg\" data-orig-size=\"2274,1706\" 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=\"DBF3BD~1\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Exterior image of 5 South Commerce Center. Image courtesy of Cushman &#038; Wakefield&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/DBF3BD1-e1734516674769.jpg?w=1024\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/DBF3BD1-e1734516674769.jpg\" alt=\"Exterior image of 5 South Commerce Center.\" class=\"wp-image-1004741164\" style=\"width:400px\"\/><\/a><figcaption class=\"wp-element-caption\">Dubbed 5 South Commerce Center, the one-story industrial property came online on an 11-acre site. <em>Image courtesy of Cushman &amp; Wakefield<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>ViaWest Group has sold 5 South Commerce Center, a 172,847-square-foot Class A industrial property in Salt Lake City. STAG Industrial acquired the single-tenant facility. Cushman &amp; Wakefield worked on behalf of the seller.<\/p>\n\n\n\n<p>ViaWest Group purchased the development site in early 2022, marking its debut in the Salt Lake City market. The property came online in late 2023 on an 11-acre site.<\/p>\n\n\n\n<p>The company developed the property using an approximately $18 million construction loan originated by Western Alliance Bank, according to CommercialEdge. CHEP USA fully occupies the property, the same source shows.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO<\/strong>: <a href=\"https:\/\/www.commercialsearch.com\/news\/industrial-demand-slips-but-avoids-a-slump\/\">Industrial Demand Slips, But Avoids a Slump<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>Located at 3175 W. 500 S., the facility has access to interstates 215 and 80 and is less than 5 miles west of downtown Salt Lake City. Additionally, 5 South Commerce Center is close to Salt Lake City International Airport, which is currently undergoing a $4.1 billion renovation and expansion with completion scheduled for 2026.<\/p>\n\n\n\n<p>The building includes 32-foot clear heights, ample column spacing, an ESFR sprinkler system, four grade level doors, 35 dock-high doors, a 2,500-square-foot office component, a nearly 1.8-acre site storage area and 146 vehicle parking spots.<\/p>\n\n\n\n<p>Executive Vice Chairmen Will Strong, Rick Ellison and Jeff Chiate, together with Directors Michael Matchett and Aubrie Monahan, Senior Associate Molly Hunt and Associate Matthew Leupold with Cushman &amp; Wakefield\u2019s National Industrial Advisory Group worked on behalf of the seller. The company\u2019s Senior Director Phillip Eilers and Director Jon Schreck assisted in providing leasing advisory during negotiations.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-deals-volume-expected-to-pick-up\">Deals volume expected to pick up<\/h2>\n\n\n\n<p>Salt Lake City&#8217;s industrial market saw a significant slowdown during the third quarter of 2024, according to a recent CBRE report. There were just under 1 million square feet leased, marking the lowest amount of leasing activity in a single quarter since the first quarter of 2014.<\/p>\n\n\n\n<p>The <a href=\"https:\/\/www.commercialsearch.com\/news\/top-markets-for-industrial-transactions\/\">industrial investment volume<\/a> was modest, with only 357,864 square feet changing hands during that period, the same report shows. Even so, a boost in sales is expected following the recent Federal Reserve interest rate cuts.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The fully leased facility came online last year.<\/p>\n","protected":false},"author":2991,"featured_media":1004741164,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21748,21783,21742,1606,51973],"tags":[32799,35970,35281],"class_list":["post-1004741159","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industrial","category-investment","category-latest","category-salt-lake-city","category-southwest","tag-cushman-wakefield","tag-stag-industrial","tag-viawest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>STAG Industrial Picks Up Salt Lake City Asset - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"ViaWest Group sold a 172,847-square-foot Class A industrial property in Salt Lake City to STAG Industrial.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/stag-industrial-picks-up-salt-lake-city-asset\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"STAG Industrial Picks Up Salt Lake City Asset\" \/>\n<meta property=\"og:description\" content=\"ViaWest Group sold a 172,847-square-foot Class A industrial property in Salt Lake City to STAG Industrial.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/stag-industrial-picks-up-salt-lake-city-asset\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2024-12-18T11:44:58+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-12-20T08:38:48+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/DBF3BD1-e1734516674769.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2274\" \/>\n\t<meta property=\"og:image:height\" content=\"1706\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Simona Tudose\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/stag-industrial-picks-up-salt-lake-city-asset\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/stag-industrial-picks-up-salt-lake-city-asset\/\",\"name\":\"STAG Industrial Picks Up Salt Lake City Asset - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/stag-industrial-picks-up-salt-lake-city-asset\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/stag-industrial-picks-up-salt-lake-city-asset\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/DBF3BD1-e1734516674769.jpg\",\"datePublished\":\"2024-12-18T11:44:58+00:00\",\"dateModified\":\"2024-12-20T08:38:48+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/4659e2337f06b61cefc6b0b897d183a4\"},\"description\":\"ViaWest Group sold a 172,847-square-foot Class A industrial property in Salt Lake City to STAG Industrial.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/stag-industrial-picks-up-salt-lake-city-asset\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/stag-industrial-picks-up-salt-lake-city-asset\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/stag-industrial-picks-up-salt-lake-city-asset\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/DBF3BD1-e1734516674769.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/DBF3BD1-e1734516674769.jpg\",\"width\":2274,\"height\":1706,\"caption\":\"Exterior image of 5 South Commerce Center. 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