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.