Cushman & Wakefield Salt Lake City Completes One of the Largest Office/ Research & Development Office Leases in Utah – 855,000 Square Feet

Left to right: Cushman & Wakefield Salt Lake City team: Joe Gutierrez, Matt Leishman, Molly Westbrook and Mike Richmond L3 Technologies expands their Engineering & Operations Center to accommodate broadband communications business SALT LAKE CITY, UT -- Dec. 9, 2018 -- Cushman & Wakefield has procured one of the largest Office/Research & Development (R & D) office leasing transactions in Utah’s history, as landlord representation for Airport Technology Park (ATP), a multi-building office and research and development park, located at 420, 540, 560 and 640 North 2200 West in Salt Lake City, UT. The new 15-year lease extension and redevelopment consisting of 855,000 square feet. ATP is occupied by L3 Technologies, a New York based provider of global intelligence, surveillance, and reconnaissance (ISR) communications and networked systems, as well as electronic systems for military, homeland security and commercial aviation customers. L3 develops advanced defense technologies and commercial solutions in pilot training, [...]

2018-12-10T12:17:51-04:00 December 7th, 2018|In the News|

MARKETBEAT Salt Lake City Office Q3 2018

Overall market absorption expected to exceed 1 million square feet within Salt Lake County by year end Overall market absorption reached +487,000 square-feet (sf) for the third quarter of 2018 while overall vacancy increased 20 bps from 13.3% in Q2 2018 to 13.5% in Q3 2018Ranked 6th in overall economic mobility within the United States, the Salt Lake office market has garnered demand and attention from occupiers and investors of all sizes and industries, confirming Utah’s exceptional future economic outlook. Learn more about the Q3 2018 office outlook at  https://cushwk.co/2QnaJXz  

2018-11-28T16:07:33-04:00 November 28th, 2018|In the News|

MARKETBEAT Salt Lake County Industrial Q3 2018

Q3 2018 -- Another Noteworthy Quarter for Salt Lake County’s Industrial Market Ranked 6th nationally for economic opportunity, Salt Lake maintained its precedent of outperforming the U.S. economy through Q3 2018. Year-over-year, the county saw unemployment dwindle from 3.4% to 3.0% -a 40-bps (basis point) drop. Meanwhile, Salt Lake County saw total employment climb to 740k,  while Utah as a whole saw job growth of 3.7% during the last year –the highest such rate in the nation. Review the detailed report at  https://cushwk.co/2AsjQxn

2018-11-28T16:09:24-04:00 November 28th, 2018|In the News|

New Managing Principal for Utah Operations

FOR IMMEDIATE RELEASE Alison Beddard Appointed Managing Principal for Utah   SALT LAKE CITY, November 9, 2018– Cushman & Wakefield Salt Lake City is proud to announce Alison Beddard as the new Managing Principal for Utah operations. Based in Salt Lake City, Beddard will oversee the strategic growth of the firm’s business lines in the Salt Lake City, Ogden, and Park City markets. Beddard began her career with Cushman & Wakefield in 2005, specializing in cutting edge portfolio strategies in office leasing, acquisition and dispositions of assets for institutional occupiers, private investors and non-profit organizations. She has been involved in many high-profile transactions in Salt Lake City. Her notable transactions in the past 12 months include representing University of Utah in the largest hospital BTS in the State of Utah (170,000 RSF), and American Express in a 100,000 RSF BTS office lease. Since 2010, she has completed over $400 million in [...]

2018-11-14T17:21:11-04:00 November 14th, 2018|In the News|

Cushman & Wakefield’s Latest Blockchain Report Shares Insight on Implications for Real Estate Industry

Blockchain influence on transactions, supply chain management are cited as most likely to have ripple effect on commercial real estate markets Chicago, IL., November 14, 2018 – Cushman & Wakefield today released insights on how blockchain, the $945 million-dollar technology underlying cryptocurrencies, will impact the commercial real estate sector around the globe. Cushman & Wakefield’s latest research, Blockchain, Bitcoin and Real Estate - Part 2 of the Tech Disruptor Series, takes a deeper dive into the industries and verticals most likely to transition to blockchain technology in the coming years, and how these innovations will, in turn, impact commercial real estate. While blockchain is forecast to turn into a billion dollar industry in the next few years, growing to $9.7 billion by 2021, the report states that adoption in the commercial real estate markets is limited. To date, a handful of single – family sales have taken place using cryptocurrency. In [...]

2018-11-14T14:04:34-04:00 November 14th, 2018|In the News|

Executive Director, Dana Baird, Weighs in on Office Space Trends with Salt Lake Tribune

  Top real estate brokers who specialize in office spaces, like Cushman & Wakefield's own Dana Baird,  say Utah’s capital city is under intense demand as a place to work, with a premium — thanks to TRAX — on locations in the central business district. That’s true of startup companies, existing firms looking to grow, or corporate giants like Amazon, Facebook and Goldman Sachs, all expanding in the Beehive State. Read more about Baird's thoughts on what's happening in the world of office space in this article by  Salt Lake Tribune real estate reporter, Tony Semarad. https://www.sltrib.com/news/2018/11/04/office-spaces-salt-lake/        

2018-11-12T11:07:01-04:00 November 12th, 2018|In the News|

Veterans Voices: Retired Lt. Colonel Mike Farmer

Cushman & Wakefield, Salt Lake City, UT U.S.  Marine Corps Dates Deployed: Active Service April 1971-March 1974; Reserve Service August 1974-May 1998 Platoon Commander, 1st Platoon, Bravo Company, First Battalion 9th Marines, Vietnam S-2 (Staff Officer, Intelligence) First Battalion 9th Marines, Vietnam Executive Office, Kilo Company, 3rd Battalion 8th Marines, Camp Lejeune North Carolina Company Commander, Kilo Company 3rd Battalion 8th Marines, Camp Lejeune S-3A (Operations officer) 3rd Battalion 8th Marines Various posts through the Reserve Component During his career, the U.S. Marine Corp recognized Lt. Colonel Mike Farmer for his leadership, service and valor with the Vietnam Campaign Medal  PERSIST, NEVER QUIT AND ALWAYS DO AS WELL AS YOU CAN “Esprit de Corps” is the undercurrent of my personal life and all my dealings at Cushman & Wakefield. I cultivated and refined this while in the Marine Corps. When you’re in the military, you’re in a closed community. Everyone [...]

2018-11-07T17:12:02-04:00 November 7th, 2018|In the News|

Cushman & Wakefield Announces Sale of Wood Partners’ Alta Gateway Station

Brand New Class-A+ 277-Unit Apartment Community in Downtown Salt Lake City SALT LAKE CITY, UT -- October 29, 2018 -- On behalf of Wood Partners, Cushman & Wakefield is pleased to announce the sale of the award-winning Alta Gateway Station. The sale garnered 207 executed confidentiality agreements, generating eight offers (five of which were Institutional Profiles). Alta Gateway Station breathes new life and sophistication into Salt Lake City's new Entertainment District, and is adjacent to The Gateway open-air retail and office destination, and Vivint Smart Home Arena, home of the Utah Jazz. Named "Development of the Year" by the Utah Apartment Association, the community also boasts the first and only LEED Platinum certification* (highest level attainable; mark of quality and achievement in green building) for a multi-family apartment building in Utah. “The LEED Platinum certification establishes Alta Gateway Station as a showcase example of efficient design and sustainability,” says Tim McEntee, [...]

2018-10-29T14:16:02-04:00 October 29th, 2018|In the News|