Cision PR Newswire
Dalfen Industrial Acquires Salt Lake City Industrial Property
News provided byDalfen Industrial
Jan 24, 2023, 8:33 AM ET
DALLAS, Jan. 24, 2023 /PRNewswire/ -- Dalfen Industrial acquired a brand new, 3-building, 183,792 square foot industrial park in Salt Lake City, UT that is 60% pre-leased. This market has consistently ranked among the US's best growth metros and is poised to continue this trend.
The project is situated in West Jordan which resides in one of the fastest growing corridors in the US. Population growth in the immediate area is projected to be nearly 2.5x the national average. Centrally located, the entire population can be reached in a 30-minute drive. Proximity to Highway 154 (1.3 miles) and the newly constructed Mountainview Corridor (2.3 miles) provide access throughout the metro and, most importantly, to the burgeoning population in the south. Other notable tenants in the area include Oracle, eBay, Dannon, Sysco, Amazon and Boeing.
"Desert Peak Logistics is congruent with our strategy of acquiring highly functional last mile product. Our ability to identify this deal early on, almost 20 months ago, secured us favorable pricing." said Rich Weiss, Market Officer for Dalfen Industrial's West Region. "South Salt Lake County and into Utah County have experienced explosive population growth over the last several years and are dramatically underserved from a per capita industrial square footage basis. We saw strong leasing demand stemming from this growth and received TCO at nearly 60% preleased to DHL and another Fortune 50 firm. We'll continue to target buildings and land in this high growth corridor."
Dalfen Industrial is one of the nation's largest buyers of industrial real estate and is a leader in the last-mile property sector. Their investment focus is on strategically located urban infill warehouses and distribution buildings. Dalfen currently owns and operates millions of square feet of premier industrial properties throughout the United States.
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SOURCE Dalfen Industrial