Clearfield, UT – [November 16, 2021] – Blue West Capital has completed the sale of a single tenant net leased Caliber Collision located at 520 East 700 South, Clearfield, UT for $3,175,000. The property sold for 99% of the asking price and over $254 per square foot. This transaction represents the second highest price per square foot for a single-tenant industrial property in Utah year-to-date, according to CoStar. Zach Wright and Brandon Wright of Blue West Capital exclusively represented the seller. The seller was a Utah-based partnership and the buyer was an international real estate investment company based in Texas.
The Caliber Collision is strategically located between Hill Air Force Base and the Freeport Center. Hill AFB is the 6th largest employer in Utah and the Freeport Center is a 680-acre manufacturing & distribution corridor featuring over 7 million square feet and over 7,000 employees. The property is positioned just west of a heavily trafficked signalized intersection in a densely populated area with over 92,000 people within three miles.
The property was previously operated by ABRA Auto Body prior to their merger with Caliber Collision. The Caliber Collision lease features minimal landlord responsibilities. Caliber Collision is the largest automotive collision repair company in the United States with over 1,200 locations.
“Caliber Collision properties continue to garner substantial net lease investor interest due to their serviced-based and rapidly expanding business model,” stated Zach Wright, Director and Partner.
“The market for single tenant net lease investment properties is extremely dynamic right now. We received numerous qualified and competitive offers on this listing,” added Brandon Wright, Associate.