Nov
8
Cushman & Wakefield Commerce Brokers Sale of Salt Lake City State Street Property

SALT LAKE CITY, Nov. 7, 2016 – Cushman & Wakefield Commerce announced the sale of 3902 State Street, a 60,768 square foot Class C office building. The property was purchased by CMJC Health, LLC. The seller was the Ravarino Family Interests, a private local investment family.

3902State_web

Originally a grocery store built in the 1950s, the building was redeveloped as a call center and will continue to operate as a call center for CMJC Health. The property acquisition will be used for expanding call center operations in Utah for its growing health-based products division.

“CMJC Health is an example of the health of the office sector in Utah,” said Alison Beddard, Cushman & Wakefield Commerce Director of Office & Investment, and lead broker for the buyer. “Within months of opening their operations at another location, CMJC Health quickly outgrew the office space and was in need of a property that they could grow into. This property was an exceptional fit for CMJC Health.”

At the time of sale, 3902 State Street consisted of over 500 cubicles, two large training rooms, seven conference rooms, and two loading docks, all within two blocks of a trax station. The buyer was represented by Alison Beddard, Peter Hanlon and Annastasia Kaessner of Cushman & Wakefield Commerce and the seller was represented by Chris Kirk, Connal Grisley, and Travis Yates also of Cushman & Wakefield Commerce.

 

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About Cushman & Wakefield Commerce
Cushman & Wakefield Commerce operates the Cushman & Wakefield business in Idaho, 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.

Media Contact:
Tim Rush
Springboard5
+1 801 208 1100
tim.rush@sb5pr.com

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