Partnership acquires pair of grocery-anchored centers in same-day transaction

X Team International announced that Mountain West Retail and Investment and Newmark Grubb ACRES completed sales of two grocery-anchored properties same-day.

Canyon Center, a 51,914-sq.-ft. property in Sandy, Utah, is anchored by Smith’s and Shopko; the seller was Dee’s Inc., a third generation, family-owned real estate company, and the buyer was Pacific Castle, a Southern California-based institutional investor.

Kane Creek Shopping Center, a 43,790-sq.-ft. property in Moab, Utah, is currently 100% occupied by nine tenants, including anchor Village Market. The seller was J&J Properties, and the buyer was Hawthorne Capital.