Spanish Fork—Colliers is pleased to announce the sale of the Western Distribution Center located at 4000 East Highway 6, Spanish Fork, Utah. Jarrod Hunt, executive vice president of industrial services, represented the seller and buyer, Salt Lake City-based Vesta Realty Partners, in the transaction and will continue to represent the property as exclusive leasing agent. Led by Jeff Grasso, Vesta Realty Partners continues to acquire numerous office, life science, multi-family and industrial assets across Utah’s Wasatch Front.
Originally built by the Fingerhut Company, the facility has been an icon in the Utah Valley. It will continue to carry that distinction with the development of additional warehousing and distribution space to complement the 1.1 million square feet currently on site. Prior to the most recent change in ownership, two investors from Knoxville, Tennessee, had held the asset for 20 years. “This facility, combined with its strategic location, represents a highly desirable product in the market for a reliable and dedicated workforce, access to key transportation corridors and efficient operational costs for our tenant partners,” says Grasso. . “We are excited to expand our industrial strategy in Utah County to complement our existing interests and expand our industrial development pipeline. We expect to launch additional development by the end of the year. »