Newport National Corp. announced that it has completed the acquisition of Hobble Creek Business Park, a 31.6-acre, multi-building industrial park located in Springville, Utah. Sundance Bay, a Salt Lake City-based real estate operator and investment firm, provided the acquisition financing and construction financing for the subsequent buildings.
Hobble Creek Business Park comprises approximately 260,000 square feet of industrial space across three buildings and is 98 percent leased, with only two 6,720-square-foot bays available. Newport plans to begin construction on two additional buildings totaling approximately 140,000 square feet in late summer, with an additional 90,000 square feet planned within the next 24 months. At full buildout, the park will encompass approximately 500,000 square feet across six buildings, further solidifying its position as a premier small-bay industrial destination in Utah County.
Springville is located in one of the fastest-growing counti
