SANDY, UT—An investment partnership has acquired the 1.3 million-square-foot South Towne Center Mall and Marketplace in Sandy, Utah, for $205 million. The buyer is a partnership of Pacific Retail Capital Partners, Silverpeak Real Estate Partners and the Merchant Banking Division of Goldman Sachs.
The seller is the Macerich Company, Santa Monica, CA, and according to its public third-quarter report, the property sold for $205 million, and generates annual tenant sales of $344 per square foot.
Located 16 miles south of Salt Lake City, Sandy is an affluent and growing community with numerous economic growth drivers that has made it a desirable city for many young families.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
