IMG_3962Jason Griffith, CCIM, and Meeja McAllister with NAI Utah South sold Rio Plaza, located at 558 East Riverside Drive, to a client-investor.  Rio Plaza is a 32,914 Sq. Ft. retail/office center that was a bank foreclosure sale.  The 73% leased center sold for $2,600,000, which will yield a 8% CAP based on the current Net Operating Income.  As occupancy increases and the property is further stabilized, the yield will increase further.  Several additional leases were signed within the last two weeks.  Griffith played a significant role in helping the developer of Rio Plaza with the concept design for the project.  Jason and Meeja will continue leasing and NAI Property Management will continue as well.  Jason Griffith, CCIM represents investors with acquisitions throughout Utah and the United States.