Newport National Corporation has snapped up Hobble Creek Business Park in Springville, folding the multi-building industrial complex into the firm's Salt Lake City-area holdings and pushing the company deeper along the busy I-15 corridor that serves fast-growing Utah County.
As reported by Eagle-Tribune, the purchase was announced in a Business Wire release on June 2. The release describes Hobble Creek as covering roughly 31.6 acres and notes that Sundance Bay provided acquisition financing and will underwrite construction funding for future buildings at the park.
About Hobble Creek Business Park
Brokerage materials describe Hobble Creek as five industrial buildings totaling about 295,785 square feet of office and warehouse space, with small-bay suites starting around 6,800 square feet and remaining build-to-suit land, according to Colliers listing materials. Sitting just off I-15, the park advertises heavy utility service and ESFR fire suppression, a combination that tends to catch the eye of light manufacturers and last-mile distributors looking for functional space rather than fancy finishes.
Newport National's Salt Lake Push
Newport National is not exactly a newcomer to the market. The firm, which lists offices in Carlsbad, California, and Salt Lake City, partnered with Sentry Financial on the recent Clift Building renovation downtown, according to Utah Business. Adding Hobble Creek broadens the firm's local footprint into industrial product, rounding out a mix that already includes office and retail holdings.
Why It Matters
Salt Lake City's industrial market continues to pull in investors as fundamentals level out. Q1 2026 MarketBeat data show metro-level vacancy moderating while some county-level pockets remain tight, a backdrop that keeps infill small-bay product in demand, according to Cushman & Wakefield. Local brokerage listings also show Hobble Creek on the lease market, suggesting Newport can chase near-term leasing activity even as it maps out additional buildouts.
What Comes Next
The Business Wire notice reported by the Eagle-Tribune states that Newport and Sundance Bay expect to finance the construction of subsequent buildings and market available suites to regional users, and brokerage listings show the park already appearing on lease marketplaces. As leasing and development decisions roll out, Newport's purchase slots into a broader wave of capital flowing into Utah County industrial assets; the park's availability is listed on LoopNet.
