Provo Office for Sale - Utah County
Cushman & Wakefield, as exclusive advisor, is pleased to present the opportunity to acquire Freedom Commons (the “Property”) located in Provo, Utah. Freedom Commons comprises one, six-story Class A office building and 654-stall parking structure featuring ground-floor retail. The Property is an anchor to the greater 700,000 sf mixed-use development, including the 133-key Hyatt Place Provo and Mountainland Technical College’s Provo Campus.
Originally constructed in 2022 on a 2.83-acre site, Freedom Commons is 68% leased and features an impressive 5.27 years of WALT. The Seller and anchor tenant, PEG Companies, Inc. (31,354 sf) plans to vacate upon its lease expiration on 7/31/2027. The seller is currently in the LOI process for a backfill tenant at an increased rate, providing immediate upside to the next owner. See OM for more details.
Freedom Commons is well-positioned to attract the next wave of office tenants as it represents a best-in-class office asset. The Property stands out due to its strong financial performance, Class-A finish level and amenities, and its convenient location in the heart of Downtown Provo.
