SALT LAKE CITY—Feb. 26, 2013—Cushman & Wakefield | Commerce (www.comre.com) has negotiated a seven-year lease on a new corporate headquarters in downtown Salt Lake City for the rapidly growing data security firm Venafi. The 37,000 sf space occupies an entire floor of the City Centre Building at 175 East 400 South.
Cushman & Wakefield | Commerce represented both the tenant and the landlord. Mike Richmond, Senior Director and Dana Baird, Senior Director represented the landlord, Wasatch Commercial Management. Dana Baird and Peter Hanlon represented the tenant in this transaction.
“Venafi was previously in an 18,000 sf suburban office and quickly running out of space,” Baird said. “This new lease provides them with more than double the space in a vibrant, downtown site that is directly adjacent to a TRAX line, which made it even more attractive. Downtown is once again home to a market-leading high-tech company.”
Part of what made this an ideal location for the tenant was the large floor plate, which enables everyone to be on the same floor. Baird said this was a big selling point because it will allow them to include spacious “collaboration areas” as part of the build-out.
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About Cushman & Wakefield |Commerce
Cushman & Wakefield |Commerce, an independently owned and operated member of the Cushman & Wakefield Alliance, has been the leading provider of real estate brokerage services for more than 30 years. Headquartered in Salt Lake City, the firm has offices throughout Utah, Nevada, Idaho and Washington. It offers consulting, brokerage, tenant and landlord representation, property and facilities management, and valuation services to corporations, institutions and investors throughout the Intermountain West and Pacific Northwest. For more information, and for property listings, broker information, market category reports and more visit www.comre.com.
About Cushman & Wakefield
Cushman & Wakefield is the world’s largest privately‐held commercial real estate services firm. The company advises and represents clients on all aspects of property occupancy and investment, and has established a preeminent position in the world’s major markets, as evidenced by its frequent involvement in many of the most significant property leases, sales and assignments. Founded in 1917 it has 243 offices in 60 countries and more than 14,000 employees. It offers a complete range of services for all property types, including leasing, sales and acquisitions, equity, debt and structured finance, corporate finance and investment banking, corporate services, property management, facilities management, project management, consulting and appraisal. The firm has more than $4 billion in assets under management through its wholly‐owned subsidiary Cushman & Wakefield Investors. A recognized leader in local and global real estate research, the firm publishes its market information and studies online at www.cushmanwakefield.com/knowledge.