Shopping center

Colliers completes Utah’s largest mall transaction in Q2 2022

Provo – The East Bay Mall, a 172,000 square foot retail center located at 979 S. University Avenue in Provo, Utah, has been sold to War Chest Real Estate. Colliers brokers Brandon Goodman and Nate Monson represented the buyer, while Stuart Thain and McCall Alder represented the seller, Woodside. The transaction marks Utah’s largest real estate mall sale in the second quarter of 2022.

“It’s a great victory for our team. The center offers a solid line of credit at almost every level and lots of benefits with below market rents,” a War Chest representative said. “Utah and specifically Provo is a market where we see a lot of growth potential. Brandon and Nate have done a great job helping us see the value in this deal. We received Letters of Intent that increased our NOI before the property closed. »

East Bay is a community center located southeast of University Avenue and 900 South. In addition to three buildings in line, the site offers potential space for additional pad construction. War Chest purchased the entire center occupied primarily by national brands including Ross, Starbucks, Sportsman’s Warehouse, Staples, Planet Fitness and Papa Murphy’s, among others.