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$142 Million Asset Sold

Posted by cmarquez on March 7, 2018

Mountain West Commercial Real Estate (MW) is pleased to announce the sale of one of the largest commercial real estate transactions in recent years. The Shops at Ft. Union totals 688,549 SF on approximately 59.27 acres at 1072 E Fort Union Boulevard in Midvale. The asset sold for an estimated $142 million.

Mountain West’s Ben Brown had the opportunity to team up with Pete Bethea, the executive Managing Director of NKF Capital Markets representing the Seller Blackstone-ShopCore.
The buyer, CCA Acquisition Company, LLC, an affiliate of Kornwasser Shopping Center Properties, LLC is pleased to add this to their portfolio of over 27 shopping centers, in which Ben Brown has represented them in the majority of the transactions.

Quote from Ben:

“CCA Acquisition Company will continue its proven business plan of working with tenants and the community to increase value by responding to market-driven demand, which includes transforming the property into a place to spend time in addition to a place to shop.

Furthermore, this transaction continues a strong trend for Mountain West into solidifying its position as a dominant investment brokerage in a multi-state region. Mountain West is on track to close over $200 Million of investment sales in Q1 2018, we are taking an additional $150 million of investment properties to the market in the next few weeks and we are trending to close well over $600 million for the year.”

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