SALT LAKE CITY, UT—KBS Realty Advisors, working on behalf of a sovereign wealth fund, has acquired Millrock Park, a class A office park property located in the Cottonwood Heights submarket of Salt Lake City. The acquisition was made on behalf of a pension fund that is advised by KBS.

Built between 2005 and 2008, the four-building property totals 488,623 square-feet of rentable space on 22 acres of land. Nearly every suite hosts an unobstructed view; to the east, tenants face the Wasatch Mountain Range, and to the north, south, and west, tenants face the Salt Lake Valley. In addition to the views, Millrock Park benefits from nearby amenities and close proximately to executive and affordable housing.

“We believe that the location of Millrock Park is ideal for executives and employees alike,” said KBS senior vice president Tim Helgeson. “Our tenants are surrounded by amenities including adjacent restaurants, hotels, golf courses, ski resorts, and a stunning 360 degree view of the Salt Lake Valley.”

With the acquisition of Millrock Park and three existing properties—222 Main, Gateway Technology Center, and Parkside Tower—KBS and its affiliates now own more than 1.3 million square-feet of rental space in the Salt Lake City Market.

“We are excited to increase our Salt Lake Valley portfolio with the acquisition of Millrock Park, which we feel is one of the best projects in the best office sub-market outside of the CBD,” said KBS western regional president Rodney Richerson. “With the spectacular location, growing technology base of employment and business-friendly government, we believe that it is indisputably one of the most desirable spots for work, play and living in the Intermountain West.”

KBS Realty Advisors, Newport Beach, CA, is a private equity real estate company and SEC-registered investment advisor founded in 1992.