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9/11/26
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Newport National Corporation has acquired Hobble Creek Business Park, a 31.6-acre, multi-building industrial park located in Springville, UT. Sundance Bay, a Salt Lake City-based real estate operator and investment firm, provided the acquisition financing and construction financing for the subsequent buildings at the project.
Hobble Creek Business Park currently comprises approximately 260k sf of industrial space across three buildings and is 98% leased, with only two 6.7k sf bays remaining available. Newport plans to begin construction on two additional buildings totaling approximately 140k sf in late summer 2026, with an additional 90k sf planned within the next 24 months. At full buildout, the park will encompass approximately 500k sf across six buildings, further solidifying its position as a premier small-bay industrial destination in Utah County.
The planned new construction will feature modern, build-to-suit and speculative industrial buildings designed to meet the growing demand from a wide range of industrial users in the region. Newport will oversee all development, leasing, and property management activities at the park.
Hobble Creek Business Park offers a unique product to the Utah County market: small bay industrial units demisable down to 6k sf to 8k sf, each featuring both dock-high and grade-level doors. This flexible configuration accommodates a broad range of tenants, from small businesses and contractors to regional distribution and light manufacturing operations, filling a significant gap in the local industrial inventory.
Springville is located in Utah County, one of the fastest-growing counties in the United States. Utah County benefits from strong population growth, a highly educated workforce, a pro-business regulatory environment, and proximity to major transportation corridors along I-15, providing direct access to Salt Lake City to the north and key southern Utah and regional markets.
Industrial direct vacancy in Utah County stands at 3.9% as of Q1 2026, among the lowest in the Intermountain West, with nearly 2.9 msf of active construction concentrated almost entirely in large-format warehouse, manufacturing, and flex product. Hobble Creek Business Park is uniquely positioned to serve the small-bay segment of the market, which has seen virtually no new supply, driven by sustained demand from logistics, manufacturing, and e-commerce tenants.
“Hobble Creek Business Park is exactly the type of asset Newport looks for – a well-located, high-quality industrial property in a dynamic growth market with significant value-add potential through new construction,” said Scott Brusseau, President of Newport National Corporation. “Demand in Utah County for modern small-bay buildings with dock-high doors, ample clear heights, and grade-level doors is exceptionally strong, and with the park already 98% leased, we are excited to move forward with our expansion plans and deliver best-in-class facilities for tenants in this market.”
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