Steven Hooker, John Owens and Herm Franks of Cushman & Wakefield | Commerce represented the seller, Ed Mark. The buyer was Nick Sterns, a private investor.
“With Vail’s acquisition of the Park City Mountain Resort, the interest from out of state has increased significantly for all types of real estate, both commercial and residential,” said Steven Hooker, Director | Office/Investment/Retail/Land for Cushman & Wakefield | Commerce. “This property has had a fair amount of retail traffic historically; however, with a new through-road, traffic has increased by many times since last year. This will certainly be a boon to the retail tenants in this building.”
Built in 1998, the Sagewood Plaza is a 12,858 square foot building situated on 1.72 acres. The property has six suites for office or retail use.
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About Cushman & Wakefield | Commerce
Cushman & Wakefield | Commerce, headquartered in Salt Lake City, Utah is an independently owned and operated member of the Cushman & Wakefield Alliance with offices throughout Utah, Nevada, Washington and Idaho. The firm partners with its sister company Cushman & Wakefield | NorthMarq to provide innovative commercial real estate solutions to occupier and investor clients, offering transaction services, capital markets services, occupier and investor services, and real estate advisory. Together the firms manage more than 52 million sq. ft. of retail, industrial, and office assets, have annual revenues of more than $100 million, and employ more than 750 professionals. Learn more at www.comre.com; www.cushwakenm.com. C&W | Commerce and C&W | NorthMarq are part of the Cushman & Wakefield platform, which is the world’s largest privately-held commercial real estate services firm with 250 offices in 60 countries globally. www.cushmanwakefield.com.
About Cushman & Wakefield
Cushman & Wakefield advises and represents clients on all aspects of property occupancy and investment. Founded in 1917, it has 259 offices in 60 countries, employing more than 16,000 professionals. It offers a complete range of services to its occupier and investor clients for all property types, including leasing, sales and acquisitions, equity, debt and structured finance, corporate finance and investment banking, appraisal, consulting, corporate services, and property, facilities, project and risk management. To learn more, click HERE.