Cushman & Wakefield | Commerce Turns Market Distress to Success with Multi-Year Deal of Canyon River Office Park
OREM, Utah—December 15, 2011—Commerce Real Estate Solutions has completed one of the larger class A office property deals in recent Utah County history by signing CLEARLINK and Ancestry.com to multi-year leases. Together, the companies occupy 54,000 square feet or three of the four floors of the Canyon River Office Park’s Center I Building located at 727 North 1550 East in Orem.
The building was purchased earlier this year by Ace Real Estate Venture as an investment in the nearly vacant and distressed property. The Orem Commerce Real Estate Solutions’ broker team—James Bullington, Josh Martin, Dan Donaldson and Brandon Huntsman—marketed and negotiated on behalf of Ace to achieve this successful transaction.
“The Canyon River transaction is very significant for the local economy and commercial real estate market,” says John G. Taylor, director of corporate services for Commerce Real Estate Solutions. “It tips a distressed market into a successful one as we and these two prominent companies build momentum by demonstrating our confidence through business expansion and growth.”
The Canyon River Center I Building offers a panoramic view of Mount Timpanogos and Provo Canyon. Its convenience presents additional benefits, including covered parking, easy access to I-15 via 800 North and University Avenue, as well as recreational venues within close proximity.
With its corporate headquarters in Salt Lake City, CLEARLINK, a leading provider of content and conversion services for top consumer brands is new to the Utah Valley with this expansion. Growth and popularity also continue for Ancestry.com, the world’s largest online resource for family history, which also has offices around the world and is headquartered in Provo.