Search
 

The Appeal of Secondary Markets for Multi-Tenant Industrial

SAN DIEGO—The biggest driver for markets like Salt Lake City is the growth of e-commerce, which creates a desire to get goods closer in proximity to the end users as well as to the center of the population, Westcore’s Marc Brutten tells GlobeSt.com.

Marc Brutten Brutten: “Labor availability and rates are one of the biggest drivers of industrial real estate project site selection today.”

SAN DIEGO—The biggest driver for markets like Salt Lake City is the growth of e-commerce, which creates a desire to get goods closer in proximity to the end users as well as to the center of the population, Westcore Properties’ founder and chairman Marc Brutten tells GlobeSt.com. An active investor in industrial and office properties throughout the Western US, Westcore recently acquired an 87,122-square-foot industrial property in Salt Lake City from Los Angeles-based BH Properties for approximately $7.15 million, marking Westcore’s entry into the Salt Lake City marketplace.

Located at 4745 Amelia Earhart Dr., the one-story industrial building with cold storage is 100% occupied by Criminelli Fine Meats and GE Healthcare.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Carrie Rossenfeld

Carrie Rossenfeld

Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.

More from this author

Recommended Stories

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.