Maier Siebel Baber’s new Lone Peak Center generating strong interest from corporate occupiers
Old tenants renew leases, while new business quickly fills remaining available space
SALT LAKE CITY, Nov. 16, 2015 – Cushman & Wakefield |Commerce announced today a number of new occupiers in the newly rebranded Lone Peak Center—Maier Siebel Babel’s (MSB) multi-phase, nine-building campus renovation in Draper, Utah.
Dana Baird and Mike Richmond, executive directors of office sales and leasing with Cushman & Wakefield | Commerce’s Salt Lake City office, represent MSB in leasing the Lone Peak Center’s 535,000 square feet of renovated office space, marketing its new work-eat-play brand to attract small and midsize businesses looking for a more centralized, employee-focused campus setting than what traditional office developments typically offer.
Maier Siebel Baber is a San Francisco-based real estate investment firm, advising affluent private investors on their financial needs related to real estate. They have invested in Salt Lake City and surrounding commercial real estate markets for over 25 years—properties have included the Triad Center, South Temple Tower, HK Tower, and the recent Lone Peak Center. The group focuses on establishing long-term relationships, integrity, and confidentiality; aligning its interests with those of its investors; and achieving superior performance with minimal risk.
“The most exciting aspect of the Lone Peak development is the creative approach toward property and work place improvements made by the owner,” Baird said. “The immediate interest expressed by new businesses and multiple lease renewals from existing tenants attest to the fact that the rebranding strategy is thorough, well planned, and well executed.”
The following lists a few of Lone Peak’s new and renewed leases:
Luxottica Group – Leased approximately 35,000 square feet for their design, manufacturing and distribution eyewear company.
O’Currance Teleservices’ – Located its corporate headquarters into 18,000 square feet of newly renovated office space.
SSA Marine — Renewed its 19,000 square foot lease where its local corporate office directs regional marine and rail terminal operations services.
Property management is also being serviced by Cushman & Wakefield | Commerce’s Property Services Group. Baird and Richmond had referred the company’s Property Services while representing MSB in its two separate transactions of Wasatch Corporate Center and Draper Tech Park. Maier Seibel Babel had already purchased, renovated and leased one building prior to purchasing the remaining eight earlier this year, consolidating its ownership of the nine buildings of Class-A office on 32.5 contiguous acres.
About Cushman & Wakefield | Commerce
Cushman & Wakefield | Commerce, headquartered in Salt Lake City, Utah is an independently owned and operated member of the Cushman & Wakefield Alliance, with offices throughout Utah, Nevada, Washington and Idaho. The firm partners with its sister company, Cushman & Wakefield | NorthMarq to provide innovative commercial real estate solutions to occupier and investor clients, offering transaction services, capital markets services, occupier and investor services, and real estate advisory.
Together the firms manage more than 52 million square feet of retail, industrial, and office assets, have annual revenues of more than $100 million, and employ more than 750 professionals. Learn more at www.comre.com, and www.cushwakenm.com. Cushman & Wakefield | Commerce and Cushman & Wakefield | NorthMarq are part of the Cushman & Wakefield platform.
About Cushman & Wakefield
The successful merger of Cushman & Wakefield and DTZ closed September 1, 2015. The firm now operates under the iconic Cushman & Wakefield brand and has a new visual identity and logo that position the firm for the future and reflect its trusted global legacy and wider history. The new Cushman & Wakefield is led by Chairman & Chief Executive Officer Brett White and Global President Tod Lickerman. The company is majority owned by an investor group led by TPG, PAG, and OTPP.
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.