SAN DIEGO – Local commercial real estate company, The Heritage Group, penetrated the Salt Lake City market by closing a $1.45 million deal.
Fischbeck Family Trust, represented by Kyle Clark of the Heritage Group, purchased the single-tenant retail building housing Dollar Tree from Exchange Resources, Inc.
The 8,326-square foot space is located at 477 North 300 West and is currently occupied by Dollar Tree, who has a long-term lease at the location. Fischbeck Family Trust, UDT dated June 27, 2002, completed the 1031 transaction to acquire the Dollar Tree location.
“Trustees of the Fischbeck family were looking for a quick closing 1031 exchange opportunity,” said Clark. “After looking across the US for suitable alternatives, we located this property in Utah. We were then able to work with the seller, broker, and title company to find the right investment opportunity and create a timeline that gave the trustees the results they desired.”