Commercial Real Estate Utah

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  • Smith’s Grocery Shadow Anchored Shopping Center:
    • Dominant anchor with top tier gross sales well above the typical store average for a Smith’s Grocery Store
    • Smith’s is a division of Kroger (NYSE: KR; S&P: BBB), the largest supermarket chain by revenue in the U.S. 
  • Upside Potential Through Lease-Up of 18% Vacancy: 8.04% proforma cap rate; 57% NOI growth over 10 years.
  • Potential Break-Up Strategy: 
    • Two separately platted multi-tenant pad buildings
    • Single-tenant Wendy’s (ground lease with strong gross sales) 
    • Single-tenant Smith’s Fuel Pad (ground lease) 
  • Major Recent Capital Expenditures: Property is in excellent physical condition, including the recent installation of new roofs, parking lot slurry and seal, and stacked stone façade improvement.
  • Long-Term Historical Occupancy: Tenants representing 72% of the occupied square footage have leased space at the property since 2010 or earlier.
  • 100% Internet Resistant Tenant Mix: National/regional tenants include Wendy’s, Smith’s Gas, Club Pilates, Domino’s Pizza, Fantastic Sam’s, and Ski 'N See. 
  • High Traffic Signalized Intersection Location: 30,000 CPD
  • Located Minutes from Snowbird and Alta Ski Resorts: Ideally positioned on 9400 Street and is the last grocer prior to travelling through Cottonwood Canyon to the nearby ski resorts. 
  • Sandy is the 6th Largest City in Utah: Ranked one of safest cities for the 11th consecutive year and only 30 minutes from Salt Lake City International Airport.
  • Affluent Demographics: Within a 1-mile radius, the AHHI is USD. 127,000. The current population within a 5-mile radius of the center is 223,000.
USD. 9,325,000
Exclusively Listed By:
Bill Asher
Executive Vice President
phone 844.585.7684

Ed Hanley
phone 844.585.7677
Kevin Fryman
Executive Vice President
phone 844.585.7674
Hanley Investment Group Real Estate Advisors, Inc.
3500 E. Coast Highway, Suite 100, Corona del Mar, CA
Licensed in Utah & California  |  Utah License #6852447-CN00
Hanley Investment Group - Real Estate Advisors

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