124 North Charles Lindbergh Drive - Salt Lake City, Utah
This Investment Offering provides the Opportunity for an
Investor to acquire the VETERANS FIRST MORTGAGE OFFICE BUILDING, a
Class-B, single-tenant property located within the Salt Lake
International Center in the city’s robust Northwest Quadrant. The
building is part of a 13 million square-foot office and industrial
development, and features numerous hospitality and retail
amenities. The 28,533 square-foot, single-tenant build-ing is
situated on 4.36 acres.
Numerous major credit corporations find the Salt Lake
Inter-national Center appealing due to its central location to the
Salt Lake Valley workforce, and unparalleled interstate access to
the larger metropolitan area. Neighboring companies include Amazon,
FedEx, Quality Distribution, 1-800 Contacts, Federal Bureau of
Investigation, and Netflix, among many more.
PROPERTY INFORMATIONBuilding Size: 28,533 sq. ft.Parcel Number:
07-36-476-019Site Size: 4.36 acresAge: 1976/1998/2015Zoning:
M-1Parking: 167 spaces - 5.85/1,000 sf ratio
(includes 8 ADA spaces)Sales Price: $6,605,000 ($231.49 psf)Cap
Rate: 6.00%
HIGHLIGHTS INCLUDE:• Credit Tenant, Veterans First Mortgage, has
served over 100,000
clients with $21 billion in home loans
• Tenant owned by Barrington Bank, a Wintrust Community Bank,
which boasts over 150 locations with over $300 million in
shareholder equity
• Ten and a half years of remaining lease term with 3% annual
escalations
• 20-year roof warranty• Absolute NNN lease• Market,
to-below-market, in-place lease rate of $13.79 psf NNN
($20 psf Full Service), compared to Salt Lake International
Center’s average FS lease rate of $20.41 psf, and the Northwest
Quadrant average lease rate of $22.01 psf
• Substantive parking ratio of 5.85/1,000 square feet • One
loading dock • Adjacent to the Salt Lake City International Airport
• Easily accessible from both the I-80 and I-215 Freeways, and
only
six miles west of Downtown
The VETERANS FIRST MORTGAGE OFFICE BUILDING is a well-positioned
asset with a strong future of providing solid, consistent returns.
Premium location, credit tenant, and an absolute NNN lease with
substantial remaining term combine to form a unique investment
opportunity in the thriving Salt Lake City commercial real estate
market.
VETERANSFIRST MORTGAGEOFFICE BUILDING
Exclusively Marketed by
Kip Paul Vice Chairman - Investment Sales801-303-5555
[email protected]
Jorgi Paul Associate - Investment Sales801-303-5570
[email protected]
INVESTMENT OFFERING
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Copyright nearmap 2015
5420 West John Cannon Drive, Salt Lake City, Utah Some Imagery
by nearmap - F:\Projects\SL\PaulK\11_29_2018\Block_L.mxd -
11/29/2018 Raymond.Brady
SiteDOUGLAS CORRIGAN WAYImagery: 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]
170 South Main Street, Suite 1600Salt Lake City, Utah 84101Tel
801-322-2000 Fax 801-322-2040cushmanwakefield.com
©2018 Cushman & Wakefield. All rights reserved. The
information contained in this communication is strictly
confidential. This information has been obtained from sources
believed to be reliable but has not been verified. NO WARRANTY OR
REPRESENTATION, EXPRESS OR IMPLIED, IS MADE AS TO THE CONDITION OF
THE PROPER-TY (OR PROPERTIES) REFERENCED HEREIN OR AS TO THE
ACCURACY OR COMPLETENESS OF THE INFOR-MATION 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). ANY
PROJECTIONS, OPINIONS OR ESTIMATES ARE SUBJECT TO UNCERTAINTY AND
DO NOT SIGNIFY CURRENT OR FUTURE PROPERTY PERFORMANCE. path: 1-
Projects/Paul, K/1 - Flyers/124nCharlesLindberghDr
VETERANS FIRST MORTGAGE OFFICE BUILDING
