GFI Realty Services, LLC today announced that it closed on the $42.55-million sale of 6941 W 2100 South, two Class A industrial warehouses in West Valley City, Utah, in Salt Lake City’s NW Quadrant submarket. The GFI Institutional Advisory team of Managing Director, Joshua Peck & Group Director, Susan Annis brokered this transaction between the buyer, Principal Life Insurance, and the seller, Sansone Group.
The assets, totaling 404,000 square-feet, benefit from their proximity to Highway 201, downtown Salt Lake City, Salt Lake City International Airport and all major interstate trucking routes. Additionally, the properties are near the Union Pacific Intermodal Hub which provides access to all western seaports.
Salt Lake’s strong workforce, growing demographic and low cost of utilities are driving the demand in this market.
“The northwest quadrant of Salt Lake City, in particular, has become a logistical hotbed for industrial development and we’re pleased that we were able to facilitate our client’s entry into this marketplace ahead of this curve,” said Peck.
“We are excited to be a leader in the industrial expansion of one of the best locations for distribution and e-commerce”, said Annis.
“GFI is pleased with the top notch performance of our IAG as they expand our footprint in the north and southwest markets through impressive industrial and development transactions,” said Michael Weiser, President of GFI Realty Services. “We look forward to continued growth in those markets.”
Principal Life Insurance Company provides insurance services. The company offers retirement, annuities, mutual funds, life, and term insurance services. Principal Life Insurance Company serves clients worldwide.
Founded in 1957 by Anthony F. Sansone, Sr., Sansone Group is a nationally recognized commercial real estate firm that specializes in property and facility management, brokerage, land investments, development and redevelopment of retail, industrial, office, agricultural/recreational and multifamily properties. Headquartered in St. Louis, Missouri, Sansone Group has offices in Overland Park, Kansas, Fayetteville, Arkansas, Knoxville, Tennessee, Nashville, Tennessee, West Palm Beach, Florida, Coral Springs, Florida and Miami, Florida. Currently Sansone Group has over 20 million square feet of property including residential, office and industrial properties, retail centers and medical facilities.