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Rio Plaza – Sold November 2015 |
Nov 20, 2015:
Jason Griffith, CCIM and Meeja McAllister, both with NAI Utah South, sold Rio Plaza at 558 East Riverside Drive to a 1031-investor. Griffith and McAllister represented the seller and a Salt Lake City broker represented the Utah-based buyer. Rio Plaza is a 32,232 SF retail-office development with 18-tenants.
Built in 2007, Rio Plaza’s largest tenant is BeHot Yoga. The investment sale yielded nearly an 8% CAP rate (capitalization rate) based on 2016’s projected Net Operating Income. Jason Griffith represents investors with investment acquisitions in Utah and throughout the United States.
