SOLDIndustrial
Scott Brusseau Of Newport National Corp Acquires Industrial Portfolio In Springville For $96.8M
1156 1750 West, 1710 West 1000 North & 1290 1750 West
$96,800,000
Building Size
—
Asset Type
Industrial
Closing
Jun 4, 2026
AI
The transaction involved the sale of Hobble Creek Business Park, an industrial portfolio located at 1156 1750 West, 1710 West 1000 North & 1290 1750 West in Springville, Utah. The property spans a total area of 260,000 square feet and was sold for a price of $96,800,000, equating to $372 per square foot.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $96,800,000
- Square Footage: 260,000
- Price Per Square Foot: $372
- Buyer: Scott Brusseau - Newport National Corp.
- Seller: Thrive Development
- Market: Springville, UT
Scott Brusseau represented Newport National Corp. in this transaction, while Thrive Development acted as the seller. The deal highlights the continued interest in industrial properties within the Utah market.
Market Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.16%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93