KBS, an owner and operator of premier commercial real estate assets in the nation, announced the sale of the Salt Lake Hardware Building, a 210,938 square-foot, five‑story class A office building located in downtown Salt Lake City. The historic asset, which offers multifamily development potential, was acquired by Dart Interests, a U.S. real estate development and investment firm. The Salt Lake Hardware Building was owned by KBS Real Estate Investment Trust III, part of KBS’ portfolio of funds and separate accounts.
According to Giovanni Cordoves, Western regional president at KBS, the transaction reflects the firm’s disciplined approach to asset selection, value creation and exit execution.
“While the office sector continues to face broader market challenges, this sale demonstrates that well‑located, high‑quality assets with strong fundamentals continue to attract investor demand,” says Cordoves. “The Salt Lake Hardware Building’s historic character,
