Salt Lake City - July 14, 2016 – The Salt Lake office of CBRE announced today that it has finalized the sale of Clinton Towne Center on behalf of the seller, Bridgeport Retail, a boutique private equity real estate investment company. Eli Mills and Tucker White represented Bridgeport in the transaction.
Clinton Towne Center consists of 34,200 square feet and is located at 2122 West 1800 North in Clinton, Utah. The Center is anchored by Macey’s, a well-known grocery store, and includes several national retail tenants. There is also a heavy concentration of nearby retail and dining establishments, which assist in visibility and driving traffic to the site. The Center was 86 percent occupied at the time of sale.
“Current investment market fundamentals are strong, which allowed the seller to achieve maximum value in this transaction,” noted White, vice president. “Thus far, it has been a good year for Utah’s commercial investment market, and we expect this momentum to continue in the near term.”
About CBRE Group, Inc. CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2014 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.