Legacy Acquires Prime Salt Lake City Retail Corner

For Immediate Release:  Legacy Real Estate Investments acquires Legacy Plaza at 54th in Taylorsville, Utah

Legacy acquires off-market 16 acre shopping center in the heart of Taylorsville, UT.

 Draper, UT – March 20, 2015 – Legacy Real Estate Investments, Inc. closed on March 11th on its latest acquisition that includes 194,554 square feet of retail space in five building in Taylorsville, Utah, part of the Salt Lake City MSA.  The property includes just over 16 acres on the northwest corner of 54th South and Redwood Road.  This is a very dynamic intersection and one of the busiest in Utah with over 100,000 cars per day of traffic as they come to work and visit the many retailers in this trade area.  Existing tenants at the property include Leatherby’s Family Creamery, Arby’s, Café Rio Mexican Grill, Francesco’s Restaurant, Teriyaki Grill and Planet Fitness.  Legacy will demolish the existing 100,000 sf former Fred Meyer building to make room for approximately 90,000 sf to be filled with new national anchor retail and restaurant tenants.  The one large anchor building will be replaced by 5 buildings including 4 pad buildings and a new building for the new junior anchors.

 “We are thrilled to be able to acquire this exceptional retail corner and work with the city and retailers to redevelop this amazing location.  The existing strong base of tenants will be enhanced with many new retailers” commented David Werts, Principal and Founder of Legacy.  Legacy Plaza at 54th was not marketed for sale but was an off-market transaction with The Boyer Company and the City of Taylorsville.  Financing was arranged and provided by Zions Bank.     

About Legacy Real Estate Investments

Founded in 2005, Legacy is a real estate investment, management and consulting firm specializing in commercial real estate properties in the Western United States.  Legacy represents investors that include high net worth individuals, families, pensions and trusts as well as corporate and institutional clients in building wealth through commercial real estate investments and providing better than market returns through its experience, relationships and business practices.