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10/26/23
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In a Utah industrial buy, Caspian Investments LLC purchased a 280.8k sf, Class A distribution center in Spanish Fork. The building is fully occupied by Young Living Essential Oils.
The facility is located at 3065 N. 200 E. and situated along I-15 in the high-growth market of southern Utah County. Property features include 56’ column spacing, 36’ clear height, cross-dock loading, high level of security, a fenced truck court, 35 dock-high doors, four corner storefronts and skylights throughout.
Bryce Blanchard with Newmark represented the seller, Colmena Group. Having advised Colmena Group for the last decade, the sale marks Blanchard’s sixth transaction completed on their behalf. The buyer was repped by Newmark’s Skyler Peterson. The price was not disclosed.
Utah County, a significant contributor to the state's population growth in 2022, maintains a low direct vacancy rate of 3%, reflecting its status as a desirable destination for businesses and residents alike, according to Newmark Research.
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