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Justin BaileyAssociate Director 801 303 5493 [email protected]
Jorgi PaulAssociate 801 303 5570 [email protected]
Kip PaulVice Chairman 801 303 5555 [email protected]
Mike RichmondExecutive Director 801 303 5434 [email protected]
Dana Baird, CCIMExecutive Director 801 303 5526 [email protected]
170 South Main Street, Suite 1600 Salt Lake City, UT 84101 Main +1 801 322 2000 Fax +1 801 322 2040cushmanwakefield.com
MULTI-TENANT INVESTMENT
Property Highlights• Value-add opportunity with attractive price per square
foot basis
• Below market in-place average lease rate of $14.59 psf
• Flexible lease terms allow for ability to re-tenant at
increased rental rates
• Building layout may accommodate owner/user
• Proximity to TRAX Light Rail and high-speed Front-
Runner commuter train
• Access via I-15 Freeway 5300 South on and off ramp
• Strong surrounding retail including Fashion Place Mall
(Apple, Nordstrom, Zara, The Cheesecake Factory,
Chick-Fil-A, among others)
• High daily traffic count of 34,400 vehicles per day on
State Street
OverviewThis Investment Offering provides the Opportunity to
acquire the Washington Square Office Building. Located
centrally within Murray City, this multi-tenant property is
one of four Independence Square office buildings.
Property Information
Sale Price: $3,003,000 ($105 psf)
Building Size: 28,601 sq. ft.
Parcel Number: 22-18-106-028
Site Size: 1.33 acres
Age: 1990
Parking: 3.5/1,000 (approx.)
Zoning: CDC
Occupancy: 43.74%
Washington Square151 East 5600 South / Murray, Utah
FOR SALE
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: U:\1 - Projects\Paul, K\1 - Flyers\151e5600s
Justin BaileyAssociate Director 801 303 5493 [email protected]
Jorgi PaulAssociate 801 303 5570 [email protected]
Kip PaulVice Chairman 801 303 5555 [email protected]
Mike RichmondExecutive Director 801 303 5434 [email protected]
Dana Baird, CCIMExecutive Director 801 303 5526 [email protected]
170 South Main Street, Suite 1600 Salt Lake City, UT 84101 Main +1 801 322 2000 Fax +1 801 322 2040cushmanwakefield.com
Income Statement
Income 2017 ActualIn-Place 9/2018 &2018 Budgeted Expenses Proforma
Rent $ 182,486 ($14.59 psf) $ 314,611 ($11.00 psf, NNN)
CAM $ 29,194 $ 128,705 ($4.50 psf)
Total Income $ 211,680 $ 443,316
Vacancy NET (56.26%) <$ 31,032> (7%)
Gross Operating Income $ 211,680 $ 412,283
Expenses
Roofing (non-reimbursable) $ 0 $ 420 $ 420
Payroll $ 9,946 $ 960 $ 960
Leasing/Advertising $ 0 $ 0 $ 0
Repairs & Maintenance $ 30,274 $ 36,833 $ 36,833
Utilities $ 24,781 $ 23,076 $ 23,076
Management Fees $ 11,524 $ 9,600 $ 9,600
Administrative $ 188 $ 393 $ 393
Real Estate Taxes $ 21,639 $ 25,178 (2018 actual) $ 25,178
Insurance $ 2,563 $ 2,760 $ 2,760
Total Expenses $ 100,914 ($3.53 psf) $ 99,220 ($3.47 psf) $ 99,220 ($3.47 psf)
Net Operating Income $ 112,459 $ 313,063
Contact listing broker for rent roll details
Occupied SF 12,510 sq. ft. 43.74%Vacant SF 16,091 sq. ft. 56.26%Total 28,601 sq. ft. 100.00%
Washington Square151 East 5600 South / Murray, Utah
FOR SALE
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: U:\1 - Projects\Paul, K\1 - Flyers\151e5600s
Justin BaileyAssociate Director 801 303 5493 [email protected]
Jorgi PaulAssociate 801 303 5570 [email protected]
Kip PaulVice Chairman 801 303 5555 [email protected]
Mike RichmondExecutive Director 801 303 5434 [email protected]
Dana Baird, CCIMExecutive Director 801 303 5526 [email protected]
170 South Main Street, Suite 1600 Salt Lake City, UT 84101 Main +1 801 322 2000 Fax +1 801 322 2040cushmanwakefield.com
Washington Square151 East 5600 South / Murray, Utah
FOR SALE
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: U:\1 - Projects\Paul, K\1 - Flyers\151e5600s
SITE
