Over 19 Premier Commercial Acres Sold in South Salt Lake
Salt Lake City (January 9, 2017) — Coldwell Banker Commercial Advisors (CBC Advisors) today announced the sale of 19.3 premier commercial acres in South Salt Lake City. Pete Williams, vice president of investment sales and development at CBC Advisors, and David Muir, associate at CBC Advisors, represented both the seller and buyer in the transaction.
“With one of the hottest housing markets in the nation, this transaction introduces a completely new multifamily concept to the vibrant apartment market along the Wasatch Front,” said Williams. “This new development provides significant relief to a market in desperate need of product.”
The land is part of the former Buehner Block facility. Originally used as a large industrial infill site, the 19.3 acres will be redeveloped by an out-of-state buyer that specializes in the development of multifamily properties.
“This transaction included being fully engaged in a 15-month process for approval and entitlements,” said Williams. “Local municipal leadership and officials were terrific, and this development will be a very nice addition to their community.”
CBC Advisors has long been considered one of the most recognized and trusted brands in commercial real estate and is the largest, full-service commercial real estate brokerage in Utah– representing world-class industrial, investment, multifamily, office and retail properties nationally.