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JORDAN VALLEY TECH CENTER I - LoopNet...698 West Shields Lane (10000 South) - South Jordan, Utah...
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698 West Shields Lane (10000 South) - South Jordan, Utah This Investment Offering provides the opportunity to acquire the JORDAN VALLEY TECH CENTER I OFFICE BUILDING, located in South Jordan/Sandy, one of Utah’s fastest growing areas. Sit- uated on 6.50 acres, the 105,068 square foot, five-story building features a contemporary built-to-suit design and approximately 21,000 square foot floorplates. PROPERTY INFORMATION Building Size: 113,432 gross sq. ft. 105,068 rentable sq. ft. Site Size: 6.50 acres Parcel Number: 27-12-301-001 Age: 2002 Zoning: I-F Parking: 462 spaces - 4.40/1,000 sf ratio Sales Price: $17,336,000 ($165 psf) HIGHLIGHTS INCLUDE: • The property will be vacant and available for a new tenant as of March 1, 2020 (currently leased by Ivanti, an IT software company). The space may accommodate either single or multi- tenant design. • Prime Value-Add or Owner-User opportunity • One of the single, most-central locations along the Wasatch Front; appeals to a diverse and highly-educated labor force • Direct proximity to The Cairns, one of the Salt Lake Valley’s premier developing mixed-use urban areas in Sandy • Attractive basis to acquire property at $165 psf, well below replacement costs of approximately $250 psf • Anticipated lease rate of $25.50 psf FS offers an attractive alternative to newly constructed Silicon Slopes properties, which average $29.00 psf FS • Beautiful architectural design with high-quality interior finishes • Transit-oriented location; FrontRunner high-speed commuter train South Jordan Station located within one mile • Impressive surrounding residential market • 1,500 Apartment Units are under construction/ planned/prospective • South Jordan (along with adjoining Riverton and Herriman cities) boast one of every four newly constructed homes in Utah The JORDAN VALLEY TECH CENTER I OFFICE BUILDING is well-positioned to provide solid, consistent returns in one of the country’s most exciting office markets. Premium location, attrac- tive basis to acquire and access to the country’s leading employ- ment demographics all combine to deliver a unique opportunity in the thriving Salt Lake commercial real estate market. JORDAN VALLEY TECH CENTER I Exclusively Marketed by Kip Paul Vice Chairman - Investment Sales 801-303-5555 [email protected] Mike Richmond Executive Director - Leasing 801-303-5434 [email protected] Jorgi Paul Associate - Investment Sales 801-303-5570 [email protected] INVESTMENT OFFERING
Transcript of JORDAN VALLEY TECH CENTER I - LoopNet...698 West Shields Lane (10000 South) - South Jordan, Utah...
698 West Shields Lane (10000 South) - South Jordan, Utah
This Investment Offering provides the opportunity to acquire the JORDAN VALLEY TECH CENTER I OFFICE BUILDING, located in South Jordan/Sandy, one of Utah’s fastest growing areas. Sit-uated on 6.50 acres, the 105,068 square foot, five-story building features a contemporary built-to-suit design and approximately 21,000 square foot floorplates.
PROPERTY INFORMATION
Building Size: 113,432 gross sq. ft.105,068 rentable sq. ft.
Site Size: 6.50 acres
Parcel Number: 27-12-301-001
Age: 2002
Zoning: I-F
Parking: 462 spaces - 4.40/1,000 sf ratio
Sales Price: $17,336,000 ($165 psf)
HIGHLIGHTS INCLUDE:• The property will be vacant and available for a new tenant as
of March 1, 2020 (currently leased by Ivanti, an IT software company). The space may accommodate either single or multi-tenant design.
• Prime Value-Add or Owner-User opportunity
• One of the single, most-central locations along the Wasatch Front; appeals to a diverse and highly-educated labor force
• Direct proximity to The Cairns, one of the Salt Lake Valley’s premier developing mixed-use urban areas in Sandy
• Attractive basis to acquire property at $165 psf, well below replacement costs of approximately $250 psf
• Anticipated lease rate of $25.50 psf FS offers an attractive alternative to newly constructed Silicon Slopes properties, which average $29.00 psf FS
• Beautiful architectural design with high-quality interior finishes
• Transit-oriented location; FrontRunner high-speed commuter train South Jordan Station located within one mile
• Impressive surrounding residential market
• 1,500 Apartment Units are under construction/planned/prospective
• South Jordan (along with adjoining Riverton and Herriman cities) boast one of every four newly constructed homes in Utah
The JORDAN VALLEY TECH CENTER I OFFICE BUILDING is well-positioned to provide solid, consistent returns in one of the country’s most exciting office markets. Premium location, attrac-tive basis to acquire and access to the country’s leading employ-ment demographics all combine to deliver a unique opportunity in the thriving Salt Lake commercial real estate market.
JORDAN VALLEYTECH CENTER I
Exclusively Marketed by
Kip Paul Vice Chairman - Investment Sales801-303-5555 [email protected]
Mike Richmond Executive Director - [email protected]
Jorgi Paul Associate - Investment Sales801-303-5570 [email protected]
INVESTMENT OFFERING
Shields Lane
South Jordan Parkway 10600 South
State Street
700 East
9000 South
Jordan Gatew
ay
(10000 South)
172,
155
ADT
TRAX Light Rail
UTA
Fron
tRun
ner
UTA
Fro
ntRu
nner
Mulligans Golf & Games
River Oaks Golf Course
15
15
Jordan River Parkway Trail
There are three primary urban feel markets in the Salt Lake Valley – Downtown, Sugar House and The Cairns, in Sandy. The Cairns dense mixed-use, 1,100-acre city center off ers some of the state’s best-in-class housing, entertainment and shopping experiences – all with an emphasis on a
transit-oriented lifestyle. Direct access to signifi cant amenities includes The Shops at South Town (Utah’s second highest-volume mall), Rio Tinto Stadium (home to Utah’s MLS team), the 850-seat Hale Center Theatre, and the Jordan River Parkway bike and walking trails.
The property’s surroundings also deliver some of Utah’s strongest demographics:
• Median home value of $440,900• Average Household Income
of $124,000• Median age of 33 years
JORDAN VALLEY TECH CENTER I
San Marino Apts320 Units
Legends at River Oaks Apts448 Units
Jordan Station Apts302 Units
Park at City Center Apts330 Units
Green Leaf East Village Apts336 Units
The Hills at Sandy Station Apts207 Units
Dry Creek at East Village Apts282 Units
Pheasant Hollow Business Park
River Park
The Shops at South Townand Vicinity
The Cairns DevelopmentKey Employers
State of Utah City Hall
SandyUrbanCenter
Imagery: Google Earth/Landsat/Copernicus
Exclusively Marketed by
Kip Paul Vice Chairman - Investment Sales801-303-5555 [email protected]
Jorgi Paul Associate - Investment Sales801-303-5570 [email protected]
Mike Richmond Executive Director - [email protected]
170 South Main Street, Suite 1600Salt Lake City, Utah 84101Tel 801-322-2000 Fax 801-322-2040cushmanwakefield.com
Cushman & Wakefield Copyright 2018. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question. path: 1- Projects/Paul, K/1 - Flyers/698wShieldsLane
JORDAN VALLEY TECH CENTER I
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