Brookfield Property Partners (Fashion Place Mall) NNN Property For Sale — Murray, UT · $2.5M
Murray, UT 84107
Rare absolute NNN ground lease opportunity featuring 2.85 acres utilized as a parking lot parcel for the premier Fashion Place Mall in Murray, Utah. Fashion Place Mall encompasses over 965,000 square feet with more than 130 retailers, serving as a premier shopping, dining, and entertainment destination in the Salt Lake Valley with exceptional visibility and accessibility from I-15 and I-215. Leased to Brookfield Property Partners (BPY / formerly GGP), the lease features 25% rent increases every 10 years, expiring in April 2034 with three 10-year renewal options extending through 2064.
- Address: Murray, UT 84107
- Asking price $2.50M
- 5.62% cap rate
- NOI $140,500
- 7.5 years remaining
- NNN lease
- Year built: 1972
- Lot size: 2.85 acres
- Lease expiration: Apr 30, 2034
- Rent increases: 25% every 10 years
- Guarantor: Corporate
Location
This Brookfield Property Partners (Fashion Place Mall) property is in Murray, Utah.
Asset type: Ground Lease / Land