SALT LAKE CITY—Apr. 1, 2015—Cushman & Wakefield | Commerce today announced that it has brokered the sale of the historic Felt Building located at 341 South Main Street in Salt Lake City, Utah. The Felt Building is a 57,665 square foot historic office and retail property.
Alison Beddard, Director of Office and Investment for Cushman & Wakefield | Commerce negotiated the sale on behalf of the owner, Felt Building, LLC. The buyer was David Phipps of Odgen, Utah.
“The Felt Building was the city’s very first steel and concrete office building,” Beddard said. “This sale is significant not only for its historic provenance, but also due to the building’s charming design and location on Main with access to parking, restaurants and a TRAX stop, making it perfect for office and retail tenants alike.”
The Felt Building was constructed in 1909 and underwent major renovations in 1996. The building currently has 10,120 rentable square feet available.
The property recently signed some new tenants including an 11,000 square foot space for DevMountain Coding School, who was represented by Todd McLachlan, Director of Office Properties for Cushman & Wakefield | Commerce. Cushman & Wakefield | Commerce also retained the property management of the Felt Building.
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About Cushman & Wakefield | Commerce
Cushman & Wakefield | Commerce, with headquarters in Salt Lake City, Utah, is an independently owned and operated member of the Cushman & Wakefield Alliance. The firm operates offices throughout Utah, Nevada, Washington and Idaho and partners with its sister company Cushman & Wakefield | NorthMarq to provide innovative commercial real estate solutions to occupier and investor clients They offer transaction services, capital markets services, occupier and investor services, and real estate advisory. Together, the firms manage more than 52 million sq. ft. of retail, industrial, and office assets, report annual revenues of more than $100 million, and employ more than 750 professionals. Learn more at www.comre.com; www.cushwakenm.com. C&W | Commerce and C&W | NorthMarq are part of the Cushman & Wakefield platform, which is the world’s largest privately-held commercial real estate services firm.
About Cushman & Wakefield
Cushman & Wakefield advises and represents clients on all aspects of property occupancy and investment. Founded in 1917, it has 248 offices in 58 countries, employing more than 16,000 professionals. It offers a complete range of services to its occupier and investor clients for all property types, including leasing, sales and acquisitions, equity, debt and structured finance, corporate finance and investment banking, appraisal, consulting, corporate services, and property, facilities, project and risk management. www.cushmanwakefield.com.