Marcus & Millichap Sells $23M Senior Community in Sandy, UT
Located between Salt Lake City and Provo, Rosegate Sandy broke ground in 2013. The 159-unit asset is located in a submarket that has seen more than seven percent population growth since 2010.
By Alex Ciorogar
Marcus & Millichap sold a 159-unit senior community in Sandy, Utah. Located along the Wasatch Front at 9206 S 700 E, the $23 million asset was bought by an out-of-state investor.
Both based in Marcus & Millichap’s Salt Lake City office, Danny Shin, senior vice president of investments and Senior Associate Brock Zylstra represented the seller.
“Rosegate Sandy is a recently built, well-located asset in a submarket that has seen population growth of more than seven percent since 2010,” said Danny Shin, senior vice president of investments at Marcus & Millichap’s Salt Lake City office, in prepared remarks.
Completed in 2013, the property—a one-building community with three elevators and interior access hallways to each unit—is located 15 miles from downtown Salt Lake City and 30 miles from Provo, Utah. Nearby shopping venues include a Walmart Supercenter, Harmons Grocery, Smith’s Food and Drug and Lowe’s. The Marv Jenson Recreation Center, Storm Mountain Park and the Henry J. Wheeler Historic Farm are also nearby.
Image via Google Street View