Pleasant Grove, Utah – August 8, 2024 – Dakota Pacific Real Estate (“DPRE”), in partnership with Brasa Capital Management (“Brasa”), is pleased to announce the successful sale of two premier, Class A industrial warehouses located in Pleasant Grove, Utah. The sale, to a leading national industrial investment firm, marks the culmination of a successful development and leasing effort that began in mid-2021.
The two buildings, which together total over 427K SF, are fully leased to six diverse companies that take advantage of the project’s highly centralized location in the rapidly growing Utah County submarket. Newmark’s Lucas Burbank and Ben Richardson led the leasing of the project and supported the sale process alongside Jim Linn.
“This project exemplifies the power of collaboration and execution,” commented Brian Dilley, Managing Director at DPRE. “Our partnership with Brasa coupled with the expertise of Newmark and Big-D Construction, resulted in a pair of assets that are truly exceptional. We are proud to have delivered a product that meets the highest standards of our tenants and investors alike.”
Lucas Burbank, Director at Newmark, added “Working with DPRE and Brasa on this project was a rewarding experience. From the initial site acquisition to the final sale, the process was seamless, and the outcome speaks volumes about the quality of the asset and the strength of the market. We are pleased to have played a role in bringing this project to a successful conclusion.”
Big-D Construction served as the general contractor for the buildings, Mitre Peak provided development consulting services, and Zions Bank financed the project, all contributing to the seamless execution of this venture.
About Dakota Pacific Real Estate
Dakota Pacific Real Estate is a leading real estate investment and development firm based in Salt Lake City, Utah. With a focus on creating high-quality commercial, residential, and mixed-use properties, DPRE is committed to building value through thoughtful design, strategic partnerships, and community engagement.
About Brasa Capital Management
Brasa Capital Management is a Los Angeles-based real estate investment firm specializing in value-add and opportunistic investments across various property types in the Western United States. Brasa seeks to create value through disciplined investment strategies, active management, and strong partnerships.
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