August 29, 2019
Armstrong Capital Development made its first buy in Utah, acquiring the 102,000-square-foot Parkway Village in Provo. The Denver buyer struck the deal with seller Nearon Enterprises of California. Tom Goodwin with Parr Brown Gee & Loveless represented ACD in the transaction.
Parkway Village, on North University Parkway, is anchored by a Walmart Neighborhood Market. The center is 94% leased to location, regional and national tenants that include Habit Burger, Bruster’s Ice Cream, Axcess Accident Center, Platinum Dental Care and Cricket Wireless.
ACD’s Bryan Armstrong indicated that the new owner would upgrade the center by reconfiguring the parking lot and redesigning the site’s monument signage. “With its strong fundamentals, top-performing anchor and the vibrancy of the surrounding trade area, this center is ideally suited to our value-add development approach,” he added.
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