Commercial Real Estate Utah

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CANYON CENTER
———  SANDY (SALT LAKE CITY), UTAH
INVESTMENT HIGHLIGHTS
  • 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
OFFERING MEMORANDUM
Exclusively Listed By:
Bill Asher
Executive Vice President
phone 844.585.7684
basher@higrea.com


Ed Hanley
President
phone 844.585.7677
ehanley@higrea.com
Kevin Fryman
Executive Vice President
phone 844.585.7674
kfryman@higrea.com
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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