By Alex Girda, Associate Editor
Gordmans unveiled a pair of new locations on March 15 as part of a major expansion in the Intermountain West region. The Omaha, Neb.-based discount retailer opened 50,000-square-foot stores at the Station Park retail center in Farmington and at The District in South Jordan, eight days before an official grand opening on March 23. Next up is a third new location in Riverdale, which is scheduled for a July opening. Thursday’s openings expand Gordmans’ portfolio to 77 stores in 17 states.
In multi-family news, McCormack Baron Salazar has added a 61-unit Salt Lake City apartment complex to its portfolio. The St. Louis-based developer of economically integrated urban neighborhoods bought the property for $5.25 million, or about $86,000 per unit.
Located at 1625 Riverside Drive, the complex offers 76,555 square feet of residential space on a 4-acre parcel. Apartment Realty Advisors represented the seller, Peak Capital Partners, which specializes on the acquisition of multifamily properties and other distressed assets in growth markets nationwide. McCormack Baron Salazar, which was self-represented in the deal, has developed 149 projects encompassing some 16,300 housing units in 35 cities since 1973.