Stanton Road Capital (SRC) has acquired Union Park Center III and IV, a two-building class A office complex totaling 198,423 square feet. The financial terms were not disclosed.
The acquisition is SRC’s second investment in the Salt Lake City area since 2019 when the firm acquired Union Heights, a shopping and entertainment center located nearby. In addition, SRC recently opened a corporate office in Park City, Utah, in 2020.
SRC was attracted to Union Park Center due to its strategic, infill suburban location within greater Salt Lake, more specifically within the high-growth market of Cottonwood Heights, a primary economic center with both strong historical occupancy and increased leasing demand, according to the release.
SRC has plans to invest significant post-acquisition capital to improve the tenant experience, including renovated lobbies, implementation of tenant relations technology and new, pre-built, turn-key spec suites. The property offers surface p
