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Analysis For PurchaseTURN Community Services423 W 800 South #A200Salt Lake City, Utah 84101Prepared for:Mr. Phil ShumwayExecutive DirectorBy: John Greshle6629 South 1300 EastSalt Lake City, Utah 84121
Table of ContentsExecutive SummaryCurrent SituationPurchase AnalysisOther Purchase OptionsOther Lease Options
Executive SummaryPurchase of the building is recommended. The return on investment compared toleasing is much better. Purchase offers tax advantages, finish options and overallpersonal functionality. The location is known as the “Grainery” and is well suitedwith anticipated growth of the neighborhood appearing positive and in a rebuildingmode. It is convenient to public transportation and not bound up with traffic. Theestimated “CAP” Rate is 8%.Current SituationThe current lease for a comparable 12,000 sf office space is approximately 1.50per sf. The currently monthly rent is 12,539 per month ( 1.04 per sf) which includestaxes, insurance, maintenance, landscaping and 20 parking places. Utilities arepaid outside of the lease price based upon a pro-rated square footage. The currentlease will expire at the end of 2015. Comparable office space in the area will bemore costly. Examples of other properties for lease are included later in the report.Current Rent ScheduleRent Commencement Date 2010 137,700 annually 11,475 per monthFull Lease Year after Rent Commencement Date2011 (second lease year) 141,828 annually 11,819 per month2012 (third lease year) 146,088 annually 12,174 per month2013 (fourth lease year) 150,468 annually 12,539 per month2014 (fifth lease year) 150,468 annually 12,539 per month2015 (sixth lease year) 150,468 annually 12,539 per month
Purchase AnalysisThe proposed purchased price is 1,721,250. Below are two scenarios at differentinterest rates. Financing with 20% down payment is a loan amount of 1,377,000.At a 5% interest rate with a 15 year note results in a monthly principal and interestpayment of 10,889. An interest rate of 6% has a monthly principal and interestpayment of 11,619. Taxes and insurance would be paid in a separately. This scenariois better than paying a lease. Maintenance, landscaping, snow removal parking,and utilities would be paid through a “Common Area Maintenance fee” or “CAM”.Other Purchase AnalysisThere are currently no other buildings for sale in this area and zip code. Please seethe attached report for details of past sale in 2009 for a much older building.Other Lease OptionsThere are currently 5 other properties for lease. Please see the attached reportsfor details. The lease rates range from 1.25 to 1.50 per sf. Lease space rangesfrom 7,582 sf to 18,290 sf.
UtahRealEstate.com - Agent Full Report - CommercialMLS# 1190291Tour/Open: NoneList Price: 1,500,000Lease Price: 0.00Lease Terms:CDOM: 385DOM: 385Address: 268 W 400 SNS/EW: 400 S / 268 WStatus: ActiveList Date: 09/30/2013Area:Salt Lake City; So.Salt LakeCity: Salt Lake City, UT 84101County: Salt LakeProj/Subdiv:Tax ID: 15-01-402-010Taxes: 11,768Zoning Code:Office Retail WarehouseYear Built: 1979Possession:Curr. Ann. Rent:Effect Yr Blt:Property Type: OfficeProj. Ann. Rent:Cap Rate: 0.00Total Sq. Ft: 14930Curr. SQFT Vac.:Tax Year: 2011Occupied: 100%Ceiling Clear:Load Factor: %# of Bldgs: 1Ceiling Height:# of Units:# of Elev:# of Docks:# of Amps:Column Span:# of Floors: 2Floor Load Cap:Dimensions of Building# of Cranes:Max. Crane Tonage:Front:Acres: 0.10Frontage: 0.0Side:Side: 0.0Back: 0.0Building Square Footage (approx.)Irregular: NoCovered Parking:3 :Uncovered Parking:Ratio: 22:7465Stall/Month: 0Reserved: 0Main:7465Unreserved: 0Bsmnt:Min Avail for Lease:Max Avail for Lease:Avail for Lease:Bldg/ Suite(s) Avail for Rent:Business Name:Current Use:APOD:Load Factor: %From:Sublease From:Sublease To:Shared:GSI: 0NOI: 010 X 10:10 X 12:12 X 14:Other:Gas: 0Elec: 0Water: 0Garbage: 0Insurance: 0Janitorial: 0Maintenance: 0Access Feat: Disabled Restroom; Elevator: Passenger; Fully AccessibleAir Conditioning: Central Air; Electric; FullConst./Cond.: Block; StuccoCulinary Water: ConnectedCust. Visibility: Road Traffic; Walk-In TrafficEquipment: Back-Up PowerExt. SpecialCovered Parking; Paved Parking; Security LightingFeatures:Floor Coverings: Carpet; Hardwood; TileHeating: Forced Air; RadiantInclusions:Exclusions:Int. SpecialAlarm: Fire; Alarm: Security; Comm. Wiring; Kitchen; Restroom: PrivateFeatures:Irrigation:Land Condition: Curb & Gutter; PavedOffering Type: SaleRoads/Trans.: Asphalt; Bus Service; Curb& Gutter; Road: Paved; SidewalkRoof: Rubber (EPDM)Sewer: ConnectedSite Description: Owner OccupiedTel Comm: Broadband Cable; DSL Available; Ethernet; Wired; Fiber Optics; Server Room; T-1 LineTerms: Cash; ConventionalUtilities:Window Cov: Blinds; FullZoning: CommercialUtahRealEstate.com- Agent Full Report - CommercialDriving Dir:and downtownList NumberRemarks:is '1190291'15,000 SF office building in the commercial business district. Highly visible location with easy accessPageto1 -I-1510/20/201410:31 amSalt Lake City. Ideal owner/user opportunity. Close to new federal courthouse.Agt Remarks: Information is believed to be accurate. Buyer to verify all.PM Remarks:Clos Remarks:Show Inst: Agent Has Key; Call Agent/ApptOwner:Owner Type:Contact: Jon WrightContact Type: AgentPh 1: 801-712-9833Ph 2:L/Agent: Jon WrightPh: 801-355-0600Fax: 801-363-6869Cell: 801-712-9833L/Office: Internet Properties Property ManagmentPh: 801-355-0600Fax: 801-363-6869L/Broker: Vasilios PriskosBAC: 3%Dual/Var: NoList Type: ERSComm Type: GrossWthdrwn Dt:Off Mkt Dt:Exp Dt: Copyright UtahRealEstate.com. All Rights Reserved. Information not guaranteed. Buyer to verify all information.
375 S 300 W, Salt Lake City, UT 84101SummarySale DetailsSale Status: SoldSale Date: 03/03/2009Sale Price: 1,419,125 ( 114.98/SF) (Estimated)Document #: 10637074Property InformationProperty Type: OfficeProperty Subtype: Office BuildingMarket: CoreSubmarket: Sale Lake City CBDBuilding Size: 12,342 SFLot Size: 0.40 AcresAPN/Parcel ID: 15-01-402-023-0000Parties to TransactionSeller: 445 EAST LLCBuyer: HEB SALT LAKE PROPERTIES LLC175 E 400 S #1000, Salt Lake City, UT 84111Financing CommentsLender identifed as WELLS FARGO BK NA.Owner & Mortgage Information (at time of sale)03/03/2009APN/Parcel IDOwnerAddressMortgage DetailsMortgage Deed15-01-402-023-0000Heb Salt Lake Properties Llc175 E 400 S #1000, Salt Lake City, UT 84111 1,135,300Construction Deed of Trust
Alison Beddard - (801) 303-5568Office Property For LeaseCITY PLACE102 WEST 500 SOUTH, Salt Lake City, UT 84101Total Space Available:55,839 SFRental Rate: 1.46 /SF/MonthMin. Divisible:787 SFMax. Contiguous:46,032 SFProperty Type:OfficeProperty Sub-type:Office BuildingBuilding Size:62,500 SFYear Built: 1985Lot Size:0.44 ACListing ID 17189466Last Updated7 days agoFind Out More.Map of 102 WEST 500 SOUTH, Salt Lake City, UT 84101
Monica Rafferty - (801) 947-8397Doug Petty - (801) 947-8334INTERMOUNTAINOffice Property For Lease400 Place202 West 400 South, Salt Lake City, UT 84101Total Space Available:18,290 SFRental Rate: 1.38 /SF/MonthMin. Divisible:1,000 SFProperty Type:OfficeProperty Sub-type:Office BuildingBuilding Size:18,280 SFBuilding Class:BListing ID 16637670Last Updated14 days agoFind Out More.Map of 202 West 400 South, Salt Lake City, UT 84101
55 WEST 900 SOUTHSALT LAKE CITY, UTAHOFFICE FOR LEASENEW DOWNTOWN OFFICE11,625 sfPROPERTY FEATURES 11,625 RSF Available 18.00 Full Service Fiber and generator available Joint sound and video room use 5 minute walk to 900 South Trax StationBUILDING FEATURESTOTAL SQUARE FOOTAGE11,625 sfTOTAL AVAILABLE11,625 sfPARKING20 spacesT. I.NegotiableFor more information, please contact:CHRIS KIRKTODD MCLACHLAN(801) 303 5495(801) 303 5508Executive mCUSHMAN & WAKEFIELD COMMERCE170 South Main Street, Suite 1600Salt Lake City, Utah 84101(801) 322 2000www.comre.com 2014, Commerce Real Estate Solutions. Disclaimer: The above information is given with the obligation that all negotiations relating to the purchase, renting, or leasing of the property described above shall be conducted through Commerce Real Estate Solutions. Nowarranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other encumbrances, withdrawal without notice, and to any special listingconditions imposed by the seller. Prospective buyers should conduct their own due diligence. Some aerial photography by DigitalGlobe or Aerials Express.path: G:\1 - Projects\Kirk, C\1 - Flyers\55West900South
55 WEST 900 SOUTH11,625 SFAVAILABLESalt Lake City, UtahSITENNNNFor more information, please contact:CHRIS KIRKTODD MCLACHLAN(801) 303 5495(801) 303 5508Executive mCUSHMAN & WAKEFIELD COMMERCE170 South Main Street, Suite 1600Salt Lake City, Utah 84101(801) 322 2000www.comre.com 2014, Commerce Real Estate Solutions. Disclaimer: The above information is given with the obligation that all negotiations relating to the purchase, renting, or leasing of the property described above shall be conducted through Commerce Real Estate Solutions. Nowarranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other encumbrances, withdrawal without notice, and to any special listingconditions imposed by the seller. Prospective buyers should conduct their own due diligence. Some aerial photography by DigitalGlobe or Aerials Express.path: G:\1 - Projects\Kirk, C\1 - Flyers\55West900South
231 WEST 800 SOUTHSalt Lake City, Utah1,603 SF - 7,582 SFAVAILABLE231 WEST 800 SOUTHSALT LAKE CITY, UTAHOFFICE SPACE FOR LEASE1,603 SF - 7,582 SF-1,869 SF WAREHOUSE / STORAGEOFFICE BUILDINGPROPERTY FEATURESGreat “Turn-Key” office space including executive offices,conference room, modular workstations, furniture, & phonesystem. 1,603 SF - 7,582 SF garden-level office space 1,869 SF warehouse/storage space Free parking, periphery downtown Salt Lake location Great Turn Key opportunity. Executive offices, modularworkstations & conference room Furniture and phone system available Across from 900 South TRAX Station Do Not Disturb management or tenants at the premises Lease Rate: 16.00 PSF, FSSITEBuilding is Beautifully Landscaped2013 Average Daily Traffic (ADT) courtesy ofUtah Department of Transportation.For more information, please contact:RICK NEWTONCHIP PETERSEN(801) 303 5485(801) 303 5498Director - Retail / Land / e.comCUSHMAN & WAKEFIELD COMMERCE170 South Main Street, Suite 1600Salt Lake City, Utah 84101(801) 322 2000www.comre.com 2014, Commerce Real Estate Solutions. Disclaimer: The above information is given with the obligation that all negotiations relating to the purchase, renting, or leasing of the property described above shall be conducted through Commerce Real Estate Solutions. Nowarranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other encumbrances, withdrawal without notice, and to any special listingconditions imposed by the seller. Prospective buyers should conduct their own due diligence. Some aerial photography by DigitalGlobe or Aerials Express.path: G:\1 - Projects\Newton, R\1 - Flyers\231 W 800 SRICK NEWTONCHIP PETERSEN(801) 303 5485(801) 303 5498Director - Retail / Land / e.comCUSHMAN & WAKEFIELD COMMERCE170 South Main Street, Suite 1600Salt Lake City, Utah 84101(801) 322 2000www.comre.com
231 WEST 800 SOUTH1,603 SF - 7,582 SFAVAILABLESalt Lake City, UtahLower-Level ’-0”(SAFE)STORAGE ROOM18’-0”x15’-6”(280 sq. 2’-0”SECTION 1CUBICLE8’-0”x8’-0”SECTION 2CUBICLE8’-0”x8’-0”MECHANICAL ROOM18’-0”x12’-10”(230 sq. 0”x8’-6”SERVER ��OFFICE15’-0”x9’-9”BREAK ROOM22’-7”x17’-10”(388 sq. ft.)BREAK ROOM13’-8”x11’-9”(156 sq. LE10’-0”x13’-0”COMMON AREA18’-0”x16’-1”(290 sq. ft.)CUBICLE CUBICLE7’-3”x9’-6” CTION 3CUBICLE10’-0”x8’-6”Section 1:Section 2:Section 3:Total Available:3,646 SF1,603 SF2,333 SF7,582 SFD-26R-08-AProperty PhotosCUSHMAN & WAKEFIELD COMMERCE REAL ESTATE SOLUTIONS
1849 WEST NORTH TEMPLE1849 West North Temple l Salt Lakel 84116N o r t hCityS a l t l L Utahake1849 West North Temple l Salt Lake City l Utah l 84116t1849 WEST NORTH TEMPLES t re eNMa i nOutstandingOwner/UserOpportunityBuilding andExcess LandckStreetSalt Lake CityInternationalAir port17 00 Nor t hBe220 0 W es t230 0 No rt hVictory(!500 Eas t210 0 Ea st170 0 Ea st23 0 0 Ea st130 0 Ea st110 0 Ea stWe st Te mp leSouth Sa lt Lak e270 0 So ut h330 0 So ut h230 0 Ea st700 Eas t80(!(!350 0 So ut h§ 300 Eas t270 0 W es t(!210 0 So ut he320 0 W es t215170 0 So ut hDriv480 0 W es t§ 130 0 So ut hland310 0 So ut h900 Sou thH ig h360 0 W es t(!(!(!200 0 Ea st201300 We st900 We stRedwo od Ro adtW es3800480 0 W es t182 0 So ut h800 Sou th(!(!(!600 Sou thveCalif or nia Ave nue(!University of(!(!Utahh ill D r i17 3 0 So uthIn dia na Av en ue(!(!100 Sou th200 Sou thot900 Sou th( !(!(!((!!(!(!(!Sout h T em pleFo440 0 W es t700 Sou theSalt La ke City(!900 Eas t(!11 t h Av e n uSt at e S tr e et(!400 Sou th500 Sou th400 We st§ 15(!Ma in St r ee t§ 806 0 0 Nor t had (!Ro7 00 N or th(!376 East 400 South, Suite 120 Salt Lake City, Utah 84111Office 801.578.5555 Fax 801.578.5500www.ngacres.comThis statement with the information it contains is given with the understanding that all negotiations relating to the purchase, renting or leasing of the property described above shall be conducted through this office. The above information while not guaranteed has been secured from sources we believe to be reliable.FOR SALEOR LEASESALE PRICE: 2,750,000 – 97.92 RSFLEASE RATE: 14.95 PRSF, FULL SERVICEUP TO 21,449 SF FOR LEASEOffice Building FeaturesSalient Facts Total Building: 28,084 SF Area for Owner/User: Up to 21,449 SF– Building B Available For Lease: 6,552 SF– Building C Available for Lease: 14,897 SF Existing Tenant: 6,635 SF (Bldg A) Fast Data Connectivity - DS3 Integra Parking Ratio: 3.75 / 1,000- Excess land for additional parking Land FeaturesPricing 5.71 Acres Total Area Approximately 2 acres of excess landcould accommodate up to a 36,000 SFnew building or for additional parkingDo Not Disturb TenantsShowings by Appointment Only 2,750,000 Total Asking Price 97.92 / SF for Building and Excess Land Ideal for SBA LoanYear Built: 1967Year Remodeled: 1998 – 2008Property Serial ID: 08-34-378-001Zoning: TOD-MUECTRAX Station Within 150 Feet of BuildingContactCollin Perkins, MBA801.578.5575cperkins@ngacres.comDerek Sawaya801.746.4730dsawaya@ngacres.comCasey Mills, CCIM801.578.5556cmills@ngacres.com376 East 400 South, Suite 120 Salt Lake City, Utah 84111Office 801.578.5555 Fax 801.578.5500www.ngacres.comThis statement with the information it contains is given with the understanding that all negotiations relating to the purchase, renting or leasing of the property described above shall be conducted through this office. The above information while not guaranteed has been secured from sources we believe to be reliable.
1849 WEST NORTH TEMPLE1849 West North Temple l Salt Lake City l Utah l 84116Ne Pote36w B ntia,0 uild l00 inSF gBUILDING C(14,897 SF)AVAILABLEFOR LEASEBUILDING B(6,552 SF)AVAILABLE FOR LEASEGARDEN LEVEL(2,833 SF)(OCCUPIED)BUILDING A(3,802 SF)(MAIN LEVEL)(OCCUPIED)View of Building & Excess Land376 East 400 South, Suite 120 Salt Lake City, Utah 84111Office 801.578.5555 Fax 801.578.5500www.ngacres.comThis statement with the information it contains is given with the understanding that all negotiations relating to the purchase, renting or leasing of the property described above shall be conducted through this office. The above information while not guaranteed has been secured from sources we believe to be reliable.
Address:268 W 400 S NS/EW:400 S / 268 W Area: Salt Lake City; So. Salt Lake City:Salt Lake City, UT 84101 . 5 minute walk to 900 South Trax Station 55 WEST 900 SOUTH SALT LAKE CITY, UTAH OFFICE FOR LEASE NEW DOWNTOWN OFFICE 11,625 sf . (ADT) courtesy of Utah Department of Transportation.
