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3/29/23
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There have been five recent lease signings to report at Millrock Park, a four-building, 494.3k sf Class A office park in Cottonwood Heights, Utah. The property, located at 6550 S. Millrock Dr in a submarket of Salt Lake City, is owned by KBS.
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. The office park is only minutes from a variety of ski resorts, including Snowbird, Alta, Brighton, Park City Mountain Resort and more.
Common amenities at the property include a fitness center, tenant lounge, event center, structured parking, and outdoor gathering spaces. Millrock Park is situated in close proximity to numerous hospitality and restaurant options. The asset is also LEED-Certified and has achieved the UL Verified Healthy Building Mark for Indoor Air.
Millrock Park has some features that distinguish it from others in the market. The property’s concrete structures are hidden below ground, leaving 37% of the entire campus as green space. Additionally, the land that the asset is constructed on is unique as an office property site due to the dramatic elevation changes within the 22-acre campus, which creates dramatic view lines of the Salt Lake Valley.
Companies that have recently signed new leases with KBS at Millrock Park include:
• Phalynx Ventura, a Quant Fund managed by a group with strong, diverse investing and operating skills, for 7.1k sf
• Mountain View Mortgage, a Utah-based mortgage company, for 5.9k sf
• Stratus Real Estate Solutions, a local real estate services firm, 3.9k sf
Tenants that have signed lease renewals with KBS at Millrock Park include:
• Truist Financial Corporation, a national banking firm, for 3.7k sf
• Square Inc, a web-based payment service company, for 3.7k sf
Brandon Fugal, Josh Smith, and Angela Kroneberger with Colliers International represented KBS in the lease transactions.
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