Codale Portfolio Sells for $91.3 Million
SALT LAKE COUNTY, Utah, April 17, 2018 /PRNewswire/ -- Newmark Grubb ACRES (NGA) is pleased to announce that Executive Director of Investments Bryce Blanchard has sold a nine-property Codale single-tenant investment portfolio for $91.3 million.
The properties are located in Salt Lake City, Utah; Orem, Utah; Logan, Utah; St. George, Utah; Price, Utah; Vernal, Utah; Elko, Nevada; Rock Springs, Wyoming; and Casper, Wyoming.
Blanchard represented both the seller, Holt Properties, and the buyer, an out-of-state publicly traded REIT. Additionally, a subset of the properties were simultaneously closed on by a local investment group.
Codale Electric Supply was founded in 1975 by Dale P. Holt. Today it is one of the most innovative electrical supply distributors in the nation. Headquartered in Salt Lake City, Codale has 13 branch locations in the western United States. Codale had previously been acquired by Sonepar, a family-owned company headquartered in Paris, France, that is the true leader in business-to-business distribution of electrical products worldwide.
Newmark Grubb ACRES was founded in Salt Lake City, Utah, in 1998 as a full service commercial real estate brokerage. It has since grown to include property management, property maintenance and global corporate services. For nearly two decades Newmark Grubb ACRES has been an industry leader and has consistently been recognized as one of Utah's top commercial real estate brokerages.
Tel: 801.578.5555
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376 East 400 South, Suite 120
Salt Lake City, Utah 84111
Contact: Tami Goodwin
Office:801.578.5554
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About Newmark Knight Frank
Newmark Knight Frank is one of the world's leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NKF's 12,000 professionals operate from more than 320 offices in established and emerging property markets on five continents.
With roots dating back to 1929, NKF's strong foundation makes it one of the most trusted names in commercial real estate. NKF's full-service platform comprises BGC's real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, appraisal, and valuation services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit www.ngkf.com.
NKF is a part of BGC Partners, Inc., a leading global brokerage company primarily servicing the wholesale financial and real estate markets. For further information, visit www.bgcpartners.com.
SOURCE Newmark Grubb ACRES
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