Longpoint acquired two separate industrial portfolios in Salt Lake City, Utah—the Mountain West Portfolio and the Salt Lake City Infill Portfolio—totaling over 1 million square feet.
The Mountain West Portfolio consists of nine shallow bay properties totaling over 490,000 square feet with a combined occupancy level of 85% at the time of sale. The buildings were built between 1999 and 2006.
The Salt Lake City Infill Portfolio is a collection of seven high-quality small and shallow bay industrial properties totaling over 531,000 square feet. The buildings, which were 100% occupied at the time of sale by a diverse mix of tenants, were built between 1995 and 2022.
The firm says it firm acquires underperforming industrial assets in supply-constrained infill locations.
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