Harbor Bay Ventures picks up development land in Salt Lake City, Utah

Harbor Bay Ventures has acquired a 1.22-acre multifamily development site in Salt Lake City, Utah.

The seller was Wells Fargo. The sales price was not disclosed.

Known as the Wells Fargo office building, the property is in the heart of the city’s popular Sugar House neighborhood. It is within blocks of Salt Lake City’s famous Sugar House Park, featuring 110-plus acres of rolling green space, including a large pond, soccer and baseball fields, basketball  and volleyball courts, playgrounds, small amphitheater, and direct access to Parley’s Trail, an eight-mile paved recreational trail for walkers, runners and cyclists.

“This was a prime opportunity to acquire a unique piece of property located at the epicenter of Sugar House and at one of the most premium corners across the entire Wasatch Front,” said Kip Paul, vice chairman of investment sales for Cushman & Wakefield in Salt Lake City, representing the seller, in