7670 Union Park Ave, Midvale, UT 84047

Cushman & Wakefield, as exclusive advisor, is pleased to present the opportunity to acquire Union Heights Shopping & Entertainment Center (the “Property” or “Union Heights”). Union Heights is a fully occupied, 89,051-square-foot, Class A theater-anchored retail and entertainment center in Sandy, Utah. Developed in 2005 across an expansive 11.06-acre site, Union Heights is Sandy’s premier retail destination, offering a wide array of shopping, dining, and entertainment options. The tenant roster is led by Century Theatres, a subsidiary of Cinemark (NYSE: CNK). Cinemark is one of the world’s largest theater chains, operating 501 theaters and 5,619 screens across the United States and Latin America as of December 2023. Century Theatres initially constructed its 16-screen theater 2005 under a ground lease, providing the next investor ownership of the land beneath the theater outright. Union Heights’ in-line tenant mix comprises 17 local and national retail, dining, and entertainment establishments. Almost half of these tenants have been with Union Heights for nearly a decade. Lastly, 80% of the in-line tenant base have leases with built-in annual escalations averaging 3%, guaranteeing consistent cash flow.

Union Heights Shopping and Entertainment Center is nestled in the popular neighborhood of Midvale, a mid-sized city with a small-town community. Midvale is just 11 miles away from the hustle and bustle of downtown Salt Lake City but provides its residents with a cozy environment. The suburb has a prominent artistic presence and substantial diversity among cultures and backgrounds. Salt Lake City to the north and Draper to the south are between 10 and 15 miles away. Most locals drive to get around with the convenient access to Highway 89 and Interstate 15, which run through the middle of the neighborhood. Utah Transit Authority provides bus routes and TRAX, a light rail system that residents can board at the Midvale Center Station.

Utah is a national leader in high job growth, low unemployment, low cost of doing business, and talented labor. Utah regularly ranks among the best states for business, careers, living, health, and quality of life. The state provides an array of employment opportunities in various industries. Western Governors University, the University of Utah, and Salt Lake Community College are the largest universities in Salt Lake City, UT.

Inquire today to learn more about the cash-flowing investment opportunity available with the portfolio acquisition of the four dominant retail structures within the Union Heights Shopping and Entertainment Center.