The lease, which commences this fall, is valued at approximately $2.2 million, fully serviced, or $16.79 per square foot, according to a statement by the building owner, Southern California-based Hager Pacific Properties. A recent flyer created to lease up the property shows a triple-net asking rent of $12 per square foot. Vangent is believed to have paid a slight premium for the short-term lease.
An online sale listing for the property that was updated this week shows an asking price of $17.5 million or $134.62 per square foot. It also states that the building will be available again on Oct. 1, 2010.
The property, situated on 14-acres, is located at 8475 S. Sandy Pkwy., near Interstate 15 and the State Route 209. Amenities include a kitchen with seating for 800, a fully equipped workout facility with an outdoor patio. If only temporarily, the lease will bring as many as 1,200 jobs to Sandy, a source with Vangent tells GlobeSt.com.
Mark Larsen and Dan Brenan of Larsen Commercial Real Estate Services Inc. represented Vangent. Commerce CRG represented HPP.
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