Legacy acquires approx. $2 million retail building, shadow anchored by Super Wal-Mart
Camas, WA – September 22, 2011 – Legacy Real Estate Investments, Inc. closed on September 19th on 5419 Redwood Road which consists of 8,680 square feet of prime retail space. The property is located on the southeast corner of 5400 South and Redwood Road in Taylorsville, Utah and shadow anchored by a Super Wal-Mart. The property is currently 87% occupied by three tenants including Bajio Grill, Monarch Dental and a Go Wireless/Verizon store.
Salt Lake City and Utah in general have not been hit as hard by the recent recession with Utah unemployment at 7.3% which is significantly below the national statistic. Utah’s business friendly environment helped Forbes Magazine rank it #1Best State for Business and Careers category as well as outpace the nation in job growth.
“I was thrilled to be able to acquire this quality asset with a strong Super Wal-Mart shadow-anchor at such an exceptional value” commented David Werts, Principal and Founder of Legacy. Redwood Road Retail was marketed by Auction.com and Legacy won the August 19th online auction with the highest bid and closed 30 days later. Financing was provided by Security National Insurance which was arranged by Brandon Rogers at Terrix Financial Corporation.
Read full press release – Legacy Press Release for 5419 Redwood Rd w-picture
