Parkway Center Office Campus 3 biens • Bureau • Emplacements multiples

CBRE Investment Properties, as exclusive advisor, is pleased to offer investors the opportunity to acquire the fee simple interest in Parkway Center (the “Property”), a 24.2-acre industrial covered land investment in the Northwest Quadrant of Salt Lake City.
Consisting of 24.2 acres of industrial land within the Northwest Quadrant, Parkway Center offers a rare infill industrial development site of scale. Currently improved with 246,996 rentable square feet of office across three 2-story buildings, the Property provides $11.46m of assured cashflow over four years and is 86.5% leased to four tenants with 3.0 years of WALT. With two single-tenant assets anchored by Verizon (NYSE: VZ, BBB+) and PillPack, a pharmaceutical subsidiary of Amazon (NYSE: AMZN, AA), Parkway Center provides a secure covered land investment for future industrial development, with 83% of the rent roll occupied by investment grade tenancy.
Located in the Northwest Quadrant of Salt Lake City, Utah’s premier industrial submarket and one of the top-performing industrial submarkets in the Western US, Parkway Center offers a rare development site of scale with in-place industrial zoning and strong cashflow in one of the highest barrier-to-entry markets in the country.