Via Real Estate Daily News
SALT LAKE CITY, Utah – Three months after entering the Las Vegas market, the Desert West Region of Lincoln Property Company (LPC) has planted a flag in Utah. The regional expansion benchmark comes with the purchase of Access Park, a three-building, Class A industrial property in Kaysville, Utah, just outside of Salt Lake City.
“Salt Lake, like Phoenix and Las Vegas, is a market with significant growth potential. This is particularly true for Class A industrial assets like Access Park – developments that house the kind of tenants that keep the e-commerce, manufacturing and logistics machines in motion,” said LPC Desert West Executive Vice President David Krumwiede. “Tenants are aggressively seeking out industrial space in Salt Lake City in the same way they identified and pursued space in Phoenix a few years ago. We look forward to applying what we’ve learned in Arizona to join and support the Utah industrial sector.”
At 212,950-square-feet, Access Park totals three fully occupied industrial buildings, including two newly built, state-of-the-art distribution facilities each totaling 69,101 square feet, and one Class A, 74,784-square-foot industrial and manufacturing building that has been under the same ownership since its delivery in 1995. Building clear heights range from 22 to 32 feet, with a total of 74 dock-high and ground-level doors.