Financing and equity secured for 300K SF Salt Lake City industrial park
JLL Capital Markets led the financing efforts for Wagner Industrial Park
SALT LAKE CITY, July 30, 2024 – JLL Capital Markets announced today that it secured the bridge financing and joint venture equity placement for Wagner Industrial Park, a 297,233-square-foot industrial portfolio in Salt Lake City, Utah.
JLL represented the borrower, Stos Partners, to secure the financing through a debt fund. Additionally, JLL secured equity funding from an institutional equity partner.
The property is situated on 14.53 acres and is comprised of three industrial buildings, which are conveniently located at 2900, 2950 and 3100 South 900 West. Its prime location within the West Valley submarket offers excellent access to the entire Salt Lake City MSA, the I-15 and rail lines servicing the western United States.
Currently 100% leased, Wagner Industrial Park is currently home to 12 strong tenants, occupying spaces ranging from 7,700 to 52,203 square feet. In addition to its attractive tenant mix, the industrial park features two railroad spurs, 22-foot clear heights, 35 exterior docks, 13 drive ins and 80 surface parking spaces. The smaller average suite sizes position it well compared to much of the newer supply in the greater MSA.
The JLL Debt Advisory team was led by Senior Managing Director Aldon Cole, Managing Director Mark Root, Director Brad Vansant and Analyst Jack Wood.
"We are proud to have supported Stos Partners in securing the necessary financing and equity partner, and we believe this transaction underscores the continued strength and stability of the Salt Lake City industrial market," said Cole.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
For more news, videos and research resources, please visit JLL’s newsroom.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 108,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Stos Partners
Stos Partners is a privately held industrial and multifamily real estate investment and management firm that acquires, owns, operates and develops opportunistic industrial properties with a focus on value-add and core-plus investments. The firm specializes in creating value through a hands-on operator approach that includes active leasing, property management and construction management. Its strengths are repositioning assets to creative/functional/modern space, as well as strategic redevelopment and ground-up development. Led by a CJ Stos, the firm partners with high net worth private capital and institutional investors to identify and invest in assets that are poised for strong future growth.