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| Angela Kroneberger |
HOLLADAY, UT– KBS, one of the largest owners and operators of premier commercial real estate buildings in the nation, announces it has signed 24,280 square feet in new leases and lease renewals with five national and local tenants at Millrock Park, a four-building, 494,289 square-foot Class A office park at 6550 S. Millrock Drive in Cottonwood Heights, one of the most desirable submarkets of Salt Lake City, Utah.
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| Millrock Park, a four-building, 494,289 SF- Class A office park at 6550 south Millrock Drive in Cottonwood Heights, one of the most desirable submarkets of Salt Lake City, Ut |
“The current
challenging office environment has spurred a flight to quality, especially for
many smaller tenants in the market,” says Giovanni (Gio) Cordoves,
Western regional president for KBS. “KBS has seized this opportunity to provide
top-tier office space for these companies in markets like Salt Lake City that
are positioned for stability and growth.”
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| Giovanni (Gio) Cordoves |
“Millrock Park’s ideal location and amenities, along with KBS’ impeccable reputation, have sparked considerable interest in the property from local office users,” says Fugal, Chairman at Colliers International.
“In addition, KBS’ ability to provide excellent service continues to facilitate lease renewals at this asset.”
KBS has a history of identifying operating strategies that keep its properties performing at a high level, notes Tim Helgeson, senior vice president at KBS and asset manager for Millrock Park.
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| Tim Helgeson |
“Excellent location and the right amenities can make a significant difference in office leasing outcomes, and KBS is proficient at delivering both,” says Helgeson.
“These elements continue to attract new tenants to the property and signal it as one of the most desired locations for office users in the market.”
Constructed in 2005, Millrock Park is situated along the “East Bench” of the Wasatch Mountain Range in Salt Lake City. Its location offers tenants easy accessibility to I-215, I-15, and Salt Lake City International Airport.
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| Brandon Fugal |
Phalynx Ventura, a Quant Fund managed by a group with strong, diverse investing and operating skills, for 7,147 square feet
Mountain View
Mortgage, a Utah-based mortgage company, for 5,851 square feet
Stratus Real
Estate Solutions, a local real estate services firm, 3,900 square
feet
Tenants that have signed lease renewals with KBS at Millrock Park include:
Truist Financial Corporation, a national banking firm, for 3,706 square feet
Square Inc., a web-based payment service
company, for 3,676 square feet
Contact:
Arleeny Escarcega
aescarcega@thesmartagency
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