Cushman & Wakefield Commerce and CBRE Negotiate 170,000 Square-Foot Health Care Clinic for the University of Utah in Downtown Sugar House
SALT LAKE CITY, July 5, 2017 – Cushman and Wakefield Commerce’s Alison Beddard and Peter Hanlon, in cooperation with CBRE’s Barb Johnson and Vic Galanis, led the representation and negotiation of the University of Utah Health’s new build-to-suit ambulatory care center in the heart of downtown Sugar House on behalf of the tenant. With a scheduled completion in mid-2019, the 170,000-square-foot site will house a consolidated specialty clinic which provides world-class outpatient services to citizens across the Salt Lake Valley.
The new state-of-the-art clinic is part of a premier Sugar House site formerly occupied by Shopko at the intersection of I-80 and 1300 East being redeveloped by Westport Capital Partners LLC, a real estate investment firm, on behalf of certain funds it manages.
“Three years in the making, this deal is the largest medical lease transaction in Utah in recent years,” said Alison Beddard, Senior Director of Office and Investment at Cushman & Wakefield Commerce. The comprehensive healthcare center will house a University of Utah health center that provides ambulatory—or outpatient—services. This will include primary care, radiology and urgent care services, as well as specialty services such as the Moran Eye Center, among others.
Vic Galanis, First Vice President with CBRE, noted, “With its premiere location in the Sugar House market, the capabilities this site offers are second-to-none. Having a health clinic with such ease of access, as well as visibility from the interstate, will serve the University of Utah well as they strategically look to continue growing while offering superior client care.”
“The vision and leadership of Jonathon Bates and Wayne Imbrescia at the University of Utah are what made this undertaking successful,” added Barb Johnson, First Vice President at CBRE. “They saw the opportunities this mixed-use project could provide and it was their foresight and dedication in working with the developer that really made this deal come together.”
Peter Hanlon, Director of Office and Healthcare at Cushman & Wakefield Commerce, concluded, “This large transaction is a reflection of a growing trend for healthcare organizations. Leading-edge health care organizations, such as the University of Utah Health, are securing properties upon which to build new healthcare delivery systems that provide consumers and patients an outpatient care experience that is pleasant, convenient and close to where they live and work.”
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About Cushman & Wakefield Commerce
Cushman & Wakefield Commerce operates the Cushman & Wakefield business in Nevada, Utah and Washington. As part of the Cushman & Wakefield global platform, the firm offers innovative commercial real estate solutions to occupier and investor clients, offering transaction services, capital markets services, occupier and investor services, and real estate advisory. With nearly 300 employees, 9 million sq. ft. of property management and transaction value of more than $2.8 billion, the firm is a leading commercial real estate resource in the Intermountain West region and Pacific Northwest. Learn more at www.comre.com.
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. The firm’s 43,000 employees in more than 60 countries provide deep local and global insights that create significant value for occupiers and investors around the world. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $5 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), 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 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 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.us.
Media Contact for the Tenant’s Brokers:
+1 801 208 1100
+1 801 869 8045
Media Contact for the development:
Wilkinson Ferrari & Co.