Cold Spring

Highlights:

• Fully Occupied: 100% occupied by four total tenants
• Long-Term Leases: 8+ years of WALT remaining providing investors long-term stability and a consistent income stream
• Lease Guaranties: All leases are backed by either personal (Bonchon, Children’s Art Classes, & Thirst) or corporate (Snelgrove) guaranties
• Recent Construction: Premier two-building retail development with drive-thrus completed in 2024
• Brand Recognition: Dynamic mix of regional (Snelgrove & Thirst) and national (Bonchon & Children’s Art Classes) tenants driving traffic to the subject property
• Extremely Affluent Submarket: $153,000 average household incomes within a 5-mile radius of the subject property
• Explosive Residential Growth: 21-28% estimated population growth within a 1, 3, and 5-mile radius over the next 5 years
• Significant Retail Density: Subject property abuts N Redwood Road, a major North/South retail thoroughfare lined with major national tenants including Costco, Walmart, and The Home Depot
• Expanding Commercial Corridor: Adjacent to the subject property is an approved development concept titled Cold Spring Business Park which will include five flex-office buildings, two flex-retail buildings, two retail buildings, and previously approved storage units with construction expected to begin prior to year-end

Description:

Cold Spring is premier two-building retail development in Lehi, an affluent residential trade area boasting average household incomes of $153,000 within a 5-mile radius of the subject property. Both buildings feature drive-thrus and are fully occupied by a total of four tenants, all of which are on long-term leases with 8+ years of WALT remaining.

Tanner Olson
Legend Commercial
tolson@legendcommercial.com
PH: 206.330.1614
UT LIC# 9868653-SA00

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