De Pietro Holdings LLC Acquires North Salt Lake Athletic Building
North Salt Lake – Los Angeles based De Pietro Holdings LLC has acquired a 67,000 square foot industrial building leased to Club V Volleyball in North Salt Lake, a fast-growing suburb of Salt Lake City, Utah on behalf of De Pietro Limited Partnership.
The acquisition of 51 South River Bend Way in North Salt Lake is the first property purchased in the greater Salt Lake City area and the state of Utah.
“Utah has been regularly recognized as great location for business so when we decided to diversify our portfolio, investing in the greater Salt Lake City area was a natural step for our company,” said Dennis De Pietro, partner at De Pietro Holdings LLC. “What we look for in an investment is a great tenant that will act as a partner in the success of a property and we believe that Club V Volleyball has developed a great program to best serve their clients and the greater Salt Lake City youth athletic community.”
The property was built in 2017 for use as a sports and training facility and has features beyond a traditional industrial building, including a second floor with additional office space, fully conditioned warehouse space, insulated exterior concrete wall panels, a back-up generator and fiber optic data access.
Chris Engel of Beaconsfield Capital provided advisory services to De Pietro Holdings LLC.
The private seller was represented by Robert Kofoed and Don Enlow of Colliers International.
About De Pietro Holdings LLC
De Pietro Holdings LLC is a privately held commercial real estate investment company that has grown to own more than 610,000 square feet of office, industrial, medical office, and retail properties across 15 cities and four states. The Company has remained a family run and operated organization that focuses on developing long term business relationships and practical and creative solutions that satisfy tenant requirements now and in the future. De Pietro Holdings LLC’s properties are primarily located in Southern California and the greater Phoenix, AZ, Denver, CO, and Salt Lake City, UT areas.