|Last Updated Date||20 Jul 2020|
Marketplace at South Town is a Target-anchored community center, located at the heart of the State Street corridor of Sandy, UT, one of the most affluent communities in the Salt Lake City market. It is connected to the newly renovated regional mall, The Shops at South Town. Construction on the building started in 1995. In 1996, Target opened in their 179,945 square foot building. Barnes & Noble and Old Navy also opened in 1996. Chick-fil-A opened in 2003, and buybuy Baby opened in 2012. Obstacle Warrior Kids opened in the fall of 2017. The property recently underwent a facelift, which included new drought resistant landscaping with drip irrigation systems. The main building’s façade received new paint and color scheme. All of the site signage is also being upgraded.
As exclusive advisor, HFF is pleased to present the opportunity to acquire The Marketplace at South Town (the “Property”) a 316,274 square foot shopping center located in Sandy, Utah (Salt Lake City MSA). Anchored by Super Target on a ground lease, the Property is 100% leased and has recently undergone significant renovations and capital investment from current ownership. Investors have the opportunity to acquire the separately parceled assets as a whole, or individually, with three separate tax parcels on the Property.