Lincoln and ACORE CAPITAL Launch Foundry43, Advancing the Adaptive Reuse of Historic Salt Lake City Landmark

SALT LAKE CITY, Utah – August 13, 2026 – Lincoln Property Company (Lincoln), a global full-service real estate firm, today announced the launch of Foundry43, the new identity for the former Industry SLC development, in partnership with ACORE CAPITAL (ACORE). JLL has been retained to lead leasing efforts for the property, which was created through the adaptive reuse of a distinctive industrial Salt Lake City historic landmark.

ACORE enlisted Lincoln to help stabilize and reposition this mixed-use development at the former steel foundry site. Together, the partners have been making meaningful investments into the property to restart construction and have now completed the parking structure and retail space and are currently building out 66,000 square feet of additional creative office space and a 34,000 square foot fitness center. This second phase of development will continue to preserve the property’s industrial character and create a one-of-a-kind workplace experience rooted in the site’s rich history.

“Foundry43 is truly a unique asset in the Salt Lake City market,” said Zach Clegg, Vice President at Lincoln. “The relaunch of this project is an exciting step forward for the Granary, and will establish Foundry43 as one of Salt Lake City’s most unique and iconic mixed-use destinations.”

At the Heart of the Granary Neighborhood, Foundry43 responds to growing demand for highly amenitized, collaborative, and character-rich workplaces. The redevelopment preserves the property’s distinctive architecture and industrial authenticity while transforming it into one of the region’s most inspiring places to work, gather, and connect. With significant investment completed, leasing momentum underway, Foundry43 enters its next chapter as a premier creative office destination and a compelling example of adaptive reuse in Salt Lake City’s urban core.

“Foundry43 represents a rare opportunity in the Salt Lake City market,” said Kyle Jeffers, CIO of ACORE CAPITAL. “Companies are increasingly seeking authentic environments that support culture, collaboration, and employee experience. Foundry43 delivers that in a setting with a story and character that simply can’t be replicated.”

For leasing information, please visit Foundry43SLC.com.

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About Lincoln Property Company

Lincoln Property Company (“Lincoln”) is one of the largest private real estate firms in the United States. Offering a fully integrated platform of real estate services and innovative solutions to owners, investors, lenders and occupiers, Lincoln supports the entire real estate lifecycle across asset types, including office, multifamily, life science, retail, industrial, data center, production studio, healthcare, government, higher education, sports and entertainment, and mixed-use properties, throughout the United States, the United Kingdom and Europe. Lincoln’s combined management and leasing portfolio on behalf of institutional clients includes more than 720 million square feet of commercial space. For more information, visit www.lpc.com.

About ACORE CAPITAL

ACORE CAPITAL, LP is one of the leading U.S. commercial real estate investment managers with approximately $17 billion of assets under management as of June 30, 2026. With offices in New York, Los Angeles, Miami, San Francisco and Dallas, ACORE CAPITAL originates, acquires and manages a broad range of real estate credit investments on behalf of institutional investors globally. ACORE CAPITAL’s success has been fueled by its long-standing industry relationships and access to a consistent pipeline of origination opportunities.
For more information, visit: www.acorecapital.com