THE SALT LAKE TRIBUNE – Calling it an investment opportunity, the LDS Church has bought a 3.76-acre lot on the northeast corner of 400 West and North Temple in Salt Lake City.
A Gastronomy subsidiary, known as SLH NET, sold the land in a deal finalized last month. Terms were not disclosed.
“The land was purchased as a long-term investment with no immediate plans for development,” LDS Church spokesman Scott Trotter said Tuesday.
The move follows the church’s recent purchase of 13 downtown acres, including a block between 400 South and 500 South and West Temple and Main streets from Sinclair Cos., controlled by oil magnate Earl Holding. Church officials said that acquisition, estimated around $25 million, also is a long-term investment.