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The acquisition, which also includes an adjoining 1.8-acre surface parking lot, adds City Centre I's 229,600 square feet to Unico's portfolio in Downtown Salt Lake City, which now totals more than 1 million square feet of space.
The owner and founder of McSam Hotel Group received the loan from S3 Capital Partners, a subsidiary of New York real estate company, Spruce Capital Partners.
“Central Perimeter continues to be a magnet for corporate headquarters with job creation and therefore investor interest," says Cushman & Wakefield's Mike Kemether.