Industry News

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.Read more.

Legacy Sells Mesa Retail

For Immediate Release:  Legacy Real Estate Investments sold Three Fountains Plaza retail buildings in Mesa, Arizona Legacy sells asset in Mesa, AZ, shadow anchored by Fiesta Mall and Target Draper, UT – December 31, 2014 – Legacy Real Estate Investments, Inc. on December 31st, 2014 closed on the sale of 18,500 square feet of retail space in two buildings in Mesa, Arizona.  The property was acquired by Legacy in October 2012 from CW Capital who had previously foreclosed on the property.  “What a great way to end the year, with the successful completion of another commercial real estate investment that provided a profit for our valued investors,” commented David Werts, Principal and Founder of Legacy.  Three Fountains Plaza was marketed for sale by Trent Rustan with Commercial Properties, Inc.… Read more.

Legacy Closes on Mesa, AZ Retail

For Immediate Release:  Legacy Real Estate Investments acquires Three Fountains Plaza retail buildings in Mesa, Arizona  Legacy acquires lender owned asset in Mesa, AZ, shadow anchored by Fiesta Mall and Target Draper, UT – November 9, 2012 – Legacy Real Estate Investments, Inc. closed on October 25th on its latest acquisition of 18,500 square feet of retail space in two building inMesa,Arizona.  The property is just east ofMesaCommunity College andBannerDesertMedicalCenter inMesa and just West of Fiesta Mall onSouth Longmore Road and is shadow anchored by Target.  The property is currently 51% occupied by F.Y.E Music & Movies and will be 100% occupied shortly with the signing of a new restaurant tenant prior to closing.  The new tenant will be O’Briens Restaurant & Irish Pub who will occupy the former TGI Friday’s building, the building is currently undergoing extensive renovations for the new tenant.Read more.

In Utah, a record year for adding, retaining jobs

September 29, 2012 Recruiting consortium says Utah’s fiscal stability is a draw.
The Economic Development Corp. of Utah generated a record number of new jobs in its latest fiscal year and kept thousands more from decamping to other states, according to the consortium of government groups and private investors.
EDCUtah said Friday it created 8,747 jobs and retained another 2,763 in the fiscal year ending June 30. That was up from 7,313 jobs created and 1,346 retained in the same period a year earlier. A retained job is one that might have moved out of Utah if a company had decided to expand its local operations somewhere else.… Read more.

Sales Velocity Rising as Price Expectations Gap Narrows

Demand for Salt Lake City office space will remain healthy over remainder of the year as the professional and business services sector continues to post outsized job growth. Vacancy, however, will also trend upward. The disconnect between economic growth and office fundamentals comes as a handful of major tenants relocate to newly constructed buildings. In the first half, Questar moved into its new headquarters, which, in turn, left behind more than 200,000 square feet of vacant space at an existing nearby building. In the second half… See attached report for the complete article along with the 2012 Forecast. Please call with any questions you may have regarding this article or any other property related questions.… Read more.