The Southwood Office complex, at 870 and 880 E. 94th South in Sandy, has been purchased by Richard Hamilton, a former Indianapolis, Ind., resident who now lives in Salt Lake City.
Geoffrey Smart, a broker with Commerce Properties Inc., handled the sale of both buildings, but the selling price wasn't disclosed.The buildings, which contain 51,315 square feet of space, were constructed in 1976 and 1978. Selling the 870 property was Crossland Mortgage and selling the 880 property was Valley Mortgage Co.
Smart said Hamilton first started investing in property 12 years ago with an apartment building in Indianapolis and for several years has been investing in the Utah property market.
Originally developed as medical offices, both buildings will be remodeled and the landscaping improved to make them a good addition to the Sandy area, Smart said.