Building is Part of the Premiere Mixed-Use Development Taking Place at Former Shopko Retail Site
Salt Lake City—April 15, 2019—The Salt Lake office of CBRE today announced that Arena Communications has signed a new office lease at 60 Park Ave in Sugar House. Totaling 13,057 square feet, Arena Communications plans to occupy the space once the building has been completed, which is scheduled to occur in the first quarter of 2020. The building is part of a premiere mixed-use development taking place at the site formerly occupied by Shopko at the intersection of I-80 and 1300 East. Tab Cornelison represented Arena Communications and Scott Wilmarth, Eric Smith and Nadia Letey represented the developer, Westport Capital Partners, in the transaction.
60 Park Ave is a state-of-the-art office building designed to be a Class A structure comprised of six floors each encompassing 25,000 square feet. In addition to the office space, there will also be a small, street-level retail slot. Adjacent to 60 Park Ave is a medical office facility which is currently under construction. Once completed, it will house a new ambulatory care center for the University of Utah, which will occupy the building’s entire 170,000 square feet.
“Arena Communications is a Utah-based marketing company that consults political campaign efforts across the country,“ noted Cornelison, senior vice president. “The tenant was drawn to the site not only for the ability to build-out the space to their liking, but also for its location. The structure is in an ideal spot to retain and recruit employees by tapping into its surroundings—it is directly across the street from Sugar House Park and sits next to a plethora of shopping, entertainment and dining options. In addition, the site also offers unmatched accessibility, with walking and biking trails, the S-Line streetcar, buses, and direct access to I-80.”
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2018 revenue). The company has more than 90,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 480 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.