The Gateway — one of Salt Lake City’s most notable and longstanding mixed-use areas in the west portion of Downtown — is on the market.
The entire 20.9-acre site was recently listed by real estate giant JLL for an undisclosed amount, and its listing markets the complex as “a generational investment opportunity” that’s at the crossroads of Salt Lake City’s hubs for entertainment. In addition to transitioning from an outdoor mall into more of a nightlife hotspot, The Gateway is also home to over 284,000 square feet of office space and numerous multifamily housing developments.
“With current occupancy of 92%, The Gateway generates robust in-place cash flow and offers outstanding potential for further value creation through targeted lease-up, potential conversion of office uses back to retail spaces, substantial mark-to-market rental upside, and continued repositioning as Salt Lake City’s preeminent hub for entertainment, retail, and cultural activity,” the JLL listing says…