Capstone Advisors enters Utah market with retail center acquisition
South Jordan, UT — Capstone Advisors, a diversified real estate investment, development and advisory firm headquartered in Carlsbad, California, expands its portfolio with the purchase of the Trail Crossing Shopping Center in South Jordan.
The acquisition of the retail center, located at 5414 W. Daybreak Parkway, officially closed on June 13. The seller, Wright Development Group, constructed the shopping center in 2017. The property is 38,397 square feet of retail shopping space spanning five buildings. Currently, at full capacity, the center is anchored by Smith’s Food and Drug, a grocery subsidiary of The Kroger Co., along with a diverse array of national, regional, and local tenants providing essential goods and services.
The Trail Crossing Shopping Center is strategically located in the master-planned community of Daybreak, at the Northwest corner of Daybreak Parkway and State Route 85, approximately 30 minutes Southwest of downtown Salt Lake City and Salt Lake City International Airport. Substantial growth is planned for the Daybreak community, including 20,000 residential units, 9.1 million square feet of commercial space, a new urban center, a regional transit hub, and a Triple-A affiliate baseball park.
“We are excited to add this beautiful, fully occupied center to our portfolio. The Daybreak master plan community is an extremely vibrant and fast-growing area, and this center is the dominant grocery-anchored center in its trade area.” said Alex Zikakis, president of Capstone Advisors. “We are actively looking for additional well-performing centers for additional investments in the Salt Lake City area.”
Capstone Advisors has a long history of acquiring, developing, revitalizing, and managing retail centers throughout the US, with a strong current focus in Arizona, California, Nevada, Utah, and Virginia.
About Capstone Advisors
Capstone Advisors is a diversified real estate investment and development company with a proven track record of having acquired millions of square feet of commercial properties throughout the U.S. across multiple real estate cycles and product types. Since 1996, Capstone Advisors has served as an operating partner, advisor, capital provider, joint venture partner, and developer for some of the most well-regarded financial institutions in the world. The company has invested and developed a variety of commercial property types as well as been an active investor in residential land development, home building and resort development. Capstone Advisors is headquartered in Carlsbad, California. Visit CapstoneAdvisors.com for more information.
Media Contacts – Nuffer, Smith, Tucker
Anja Riedel
Phone: 707-227-0493
