Overview

Description

Colliers is pleased to exclusively offer for sale a new construction single tenant net-leased Sherwin Williams located within Mountain View Village – an 85-acre mixed use destination that is a part of a larger 600- acre master development featuring additional residential, office, and retail, in the Salt Lake City, UT MSA.

The asset benefits from a 10-year NN lease to an investment grade tenant and frontage on 13400 South St., situated just east of Mountain View Corridor with combined traffic counts in excess of ±47,827 VPD.

Mountain View Village has been drawing people 25 miles south of downtown Salt Lake with its vast amount of must-visit shops and restaurants. Notable national co-tenants include Harmons, Cinemark, Sephora, Nike, Michaels, Burlington, PetSmart, Kona Grill, and more. The project is in Phase III of development with additional retail, office, medical, hotel, and a future Trax Line transit line extension. Upon completion of the Mountain View Village project, Mountain View Corridor is projected to carry 165,000 VPD.

The asset is surrounded by affluence with nearby neighborhoods that are well known for being impressive in size and finishes servicing ±199,462 residents with an annual household income of ±$142,301 within a 5-mile radius. With the surrounding trade area growth and adjacent development, this property provides investors with a stable investment opportunity for years to come.

In Partnership with:
GRANT LAMMERSEN
Vice Chair
+1 415 425 2138
grant.lammersen@colliers.com
License # UT-8169946-CN00

Highlights

• New 10-Year Lease with Corporate Guaranty
• Investment Grade Credit (NYSE: SHW)
• 8% Rental Increases Every 5 Years, Including Options
• Benefits from frontage along 13400 South St. (±31,227 VPD)
• Positioned within Mountain View Village, a ±1MM SF mixed-use destination
• Surrounded by 100+ national retailers

Documents

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