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2321-2351 & 2355 South Decker Lake Boulevard - West Valley City, Utah
DECKERBUSINESS CENTER
This Investment Offering provides the Opportunity for an Investor to acquire the DECKER BUSINESS CENTER in Salt Lake City, Utah. This 191,270 square foot office warehouse facility is comprised of one main building consisting of 177,450 square feet and a second smaller building of 13,820 square feet. The project is currently 100% occupied and includes numerous prominent tenants including the U.S. Postal Service, American Envelope, SLC Activewear, Falcon Fulfillment, and Oemeta, Inc.
PROPERTY INFORMATIONBuilding Size: Building 1: 177,450 sq. ft.
Building 2 : 13,820 sq. ft. Total: 191,270 sq. ft.
Site Size: 9.174 acres
Zoning: M (Manufacturing)West Valley City Jurisdiction
Age: 1976
Parking: 191 spaces - 1/1,000 sf ratio
Clearance Height: 18’-20’
Sales Price: $11,450,000 ($59.86 psf)
In Place Cap Rate: 7.35%
Cash on Cash Return: 11.71% (proforma debt, in place NOI)
10 yr. - IRR Unleveraged: 9.64%
10 yr. - IRR Leveraged: 19.13%
HIGHLIGHTS INCLUDE:• Located in Decker Lake
Industrial Park, one of Salt Lake City’s most long established and successful business parks
• Immediate access to major transportation routes including I-215 Freeway, Redwood Road and the 201 Freeway which in turn provides quick access to the I-15 Freeway and Bangerter Highway
• Three phase 120/240/400 amp power
• 18-20 foot clear height• Full fire sprinkled• Skylights in warehouse areas• Ground level and dock high
doors• Parking lot and truck court
recently refurbished
VALUE ADD OPPORTUNITY• Four tenants, which comprise
over 37% of the square footage, have occupied the property for over 10 years
• The in-place average lease rate is $0.41 psf NNN for the front units vs. the market lease rate of $0.45 psf NNN
• The in-place average lease rate is $0.31 psf NNN for the corner units vs. the market lease rate of $0.34 psf NNN
DECKER BUSINESS CENTER is a well positioned asset with a long history of providing solid, consistent returns. Stability provided by numerous long term tenants, along with the upcoming lease expirations and below market lease rates, combine to form a unique value add opportunity in the thriving Salt Lake City commercial real estate market.
Exclusively Marketed by
Kip Paul Executive Director - Investment Sales801-303-5555 [email protected]
Jorgi Paul Associate - Investment Sales801-303-5570 [email protected]
INVESTMENT OFFERING
Exclusively Marketed by
Kip Paul Executive Director - 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
Cushman & Wakefield Copyright 2017. 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/2321-2351_2355sDeckerLakeBlvd
DECKER BUSINESS CENTER