Park City high-street retail property sells

SALT LAKE CITY, March 16, 2022 – JLL Capital Markets announced today it has closed the sale of and arranged acquisition financing for The Kimball on Main Street, a 25,410-square-foot, fully leased, high-street, mixed-use retail asset with event and office space along the historic Main Street in the popular mountain town of Park City, Utah.

JLL marketed the property on behalf of the seller, Southern California-based Columbus Pacific. Stanton Road Capital, LLC acquired the asset. Additionally, working on behalf of the new owner, JLL arranged the acquisition loan.

The Kimball on Main Street is the defining trophy asset within Park City due to its irreplaceable location and elite tenancy. In 2018, Columbus Pacific completed a large renovation of the property, enhancing its trophy stature within this iconic downtown location while preserving its historic nature. The property now features a tenant lineup of popular high-street retailers, including LL Bean, Free People, We Norwegians, The Collective, Summit Gallery and Sunglasses Hut.

Positioned on 0.43 acres at 639 Main St., The Kimball on Main Street is at a highly visible location between Heber and Park avenues within Park City’s historic downtown. Park City is a fast-growing experiential mountain community that hosts the world-famous Sundance Film Festival and is surrounded by Utah’s iconic ski resorts. The area is home to the second wealthiest micro-population in the U.S. and contains high barriers to entry and strict zoning for new development.

The JLL Retail Capital Markets team representing the seller was led by Senior Managing Directors Chris Gerard, Managing Director Geoff Tranchina, Senior Director Phil Brierley and Analysts Robby Westerfield and Beth Copeland.

The JLL Debt Advisory team representing the new owner included Managing Director Chris McColpin and Managing Director Mark Root.

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.

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