IPG Commercial announces that Costco Wholesale Corporation has purchased 15 acres of industrial land in SLC located at 380 South and 5700 West. Michael Jeppesen, SIOR, CCIM, LEED AP, principal broker of IPG Commercial, and Rick Dames with Cresa Partners (St Louis Mo), represented the buyer and John Gurr, SIOR CCIM of Internet Properties represented the seller.
Costco Wholesale Corporation is a multinational corporation which operates a chain of membership-only warehouse clubs. Costco is ranked as the second largest retailer in the world and ranked #15 on the Fortune 500 rankings of the largest US corporations by total revenue. Costco Wholesale Corporation plans to use this land, which is adjacent to their Utah distribution facility, for expansion purposes.
Transaction Date: July 12, 2019
Location: 380 South 5700 West, Salt Lake City, Utah
Size: 15 Acres
Seller: Vanguard Real Estate Holdings
Buyer: Costco Wholesale Corporation
Seller Contact: Michael Jeppesen, SIOR, CCIM, LEED AP, IPG Commercial and
Rick Dames, Cresa Partners
Buyer Contact: John Gurr, SIOR CCIM, Internet Properties
Brokerage: Internet Properties