801-303-5555
145 W 200 N, Provo, UT for Sale
Office - FOR SALE
1/6
null | Request Cap Rate

145 W 200 N
Provo, UT 84601
Downtown Provo


HIGHLIGHTS

  • Class A Asset with Strong Tenant Base and WALT
  • Prime Downtown Provo Location with Exceptional Connectivity
  • High-Growth Market with Limited New Office Supply

OVERVIEW

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.

FOR SALE DETAILS

PRICE

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CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Freedom Commons

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

6

BUILDING CLASS

A

YEAR BUILT

2022

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

2.83 AC

LAND SF

123,275 SF

ZONING

DT2

APN/PARCEL ID

393810001

ASK ABOUT THIS PROPERTY

Kip PaulCushman & WakefieldMore Info
801-303-5555

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Kip PaulCushman & WakefieldMore Info
801-303-5555

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.