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June 19, 2024
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RETAIL NEWS
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Shopping Center in Salt Lake City Metro Area Trades Hands

5/07/24

Canyon Center, a 96%-occupied shopping center shadow-anchored by Smith’s Food and Drug in Sandy, UT, was purchased by a Cincinnati, OH-based investor. The price was not disclosed.

Built in 1987 and expanded in 1998, Canyon Center is located at 2025-2137 9400 South in Sandy, within the Salt Lake City metro area. The 48.5k sf of shops and retail pads totaling 6.59 acres that transacted included a mix of internet-resistant national, regional and local tenants such as Wells Fargo, Domino’s Pizza, F45 Training, Club Pilates, Fantastic Sam’s, Palm Beach Tan, Nautical Bowls, Ski ‘N See, Vessel Kitchen, Kibbles & Cuts, Chocolate Covered Wagon, Salt Cycles Bike Shop, Pella Nails, Brightside Chiropractic, Tiger Rock Martial Arts and Rainbow Sakura Massage. The sale also included ground leases for outparcels occupied by Wendy’s and Smith’s Fuel Station.

Canyon Center, strategically positioned at a high-traffic signalized intersection with 35,000 cars passing daily at 9400 South and Highland Drive, is just minutes away from popular ski resorts such as Alta and Snowbird. Notably, it serves as the final grocery store stop before travelers embark on their journey through Cottonwood Canyon to the nearby ski destinations.

Greg Swedelson and Jon-Eric Greene of SSG Realty Partners, along with Hanley Investment Group’s Kevin Fryman and Bill Asher, represented the seller, a private investor from northern Michigan. The buyer was repped by Richard Webb of Emersons Commercial Real Estate.




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