9150 south 500 west · april 3, 2014 vcbo architecture 524 south 600 east salt lake city, utah...
TRANSCRIPT
9150 SOUTH 500 WESTL A N D & O F F I C E S F O R S A L E • S A N D Y , U T A H
Executive SummaryCBRE is pleased to present this opportunity to purchase the Canyons School District building and land. Built in 1982, the Canyons School District office building and land are located in Sandy, Utah with quick and easy access to Interstate 15 from 9000 South.
Sale includes: - 37,565 sq. ft. single story office building situated on 5.44 acres is well equipped for administrative offices and call centers (High parking ration) - 7.83 acre parcel of land suited for light industrial use or expansion of office - Questar natural gas station with a monthly royalty lease income
The overall location is close to the FrontRunner South Jordan Station and the South Towne Shopping Center which offers major food and retail options and public transportation.
± 7.83 Acres$6.75 per sq. ft.
$2,300,000
Main Building± 5.44 Acres
37,565 sq. ft. OfficeExtra Parking$4,000,000
Questar Gas Station
$1,175/month income
$225,000
The Canyons School District building and lands are located within an Industrial/Commercial district with many light industrial businesses surrounding it as well as some residential, commercial, retail and offices. It has served as a bank in the past and so has drive up capabilities, with 223 parking stalls at a ratio of 5.94/1,000.
ADJACENT PROPERTIES
WEST• Residential
EAST• Industrial• Commercial
NORTH• Industrial• Commercial
SOUTH• Industrial• Commercial
PRO
PER
TY OV
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VIE
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+ ± 13.97 acres total − 7.83 acres land − 5.44 acres with main building − 0.71 acres with natural gas station
+ 608,533.20 sq. ft. land
+ 37,565 sq. ft. building
+ Parcel #: 27-01-301-009, 27-01-351-034, 27-01-351-033
+ Mixed use land, Industrial/Commercial building (current use: offices)
+ ID - Industrial Commercial District Zoning
+ Frontage on 500 West, 875 ft.
+ Built in 1982
+ Mostly level topography, at street grade with 500 West
+ Traffic Count on 500 West, 2014 AADT: 18,000
+ 500 West is a two-lane (one lane per direction of travel) asphalt paved roadway, that is improved with concrete sidewalk, curb, and gutter
+ Total Sale Price: $6,525,000.00 − 7.83 acres: $2,300,000 − Main building: $4,000,000 − Natural gas station: $225,000
Main Building - Property Features
+ ± 5.44 acres
+ 236,966.40 sq. ft. land
+ 37,565 sq. ft. building
+ Parcel #: 27-01-301-009
+ Commercial building (current use: offices)
+ ID - Industrial Commercial District Zoning
+ Frontage on 500 West, 434 ft.
+ 223 parking stalls (5.94/1,000 ratio)
+ Built in 1982
+ Traffic Counts 500 West 2014 AADT: 18,000
+ Sale price: $4,000,000.00
A1.01
91
50 S
500
W S
andy
, UT
8407
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APRIL 3, 2014
VCBO ARCHITECTURE524 SOUTH 600 EASTSALT LAKE CITY, UTAH 84102
(801) 575-8800(801) 531-9850www.vcbo.com
a1.01 overall floor plan.dwg
SCALE:
OVERALL FLOOR PLAN1/8" = 1'-0"
A3
RECEPTION
STOR.G600
MECHANICALA902
MECHANICALA901
JANITOR'SOFFICE
A900
STOR.201
COPYROOMD200
VAULTD500
OQUIRRHROOMC102
WASATCHROOMC112
OFFICEC103
OFFICEC109
OFFICEC201
OFFICEC202
OFFICEC203
OFFICEC204
OFFICEC403
OFFICEC402
MENB200
WOMENB100
PHONED100
JAN.A1000
BELLCANYON
ROOMA1100
OFFICEG102
OFFICEG201
COPY ROOMF109
WORKROOMG401
RECEPTIONF100
RECEPTIONC110
RECEPTIONC100
OFFICEC101
STAGE
OFFICEA1202
CLOSET
CLOSETD400
RECEPTIONA100
OFFICEG408
OFFICEG407
OFFICEG406
OFFICEG405
OFFICEG404
OFFICEG403
OFFICEG402
OFFICEG412
OFFICEG413
OFFICEG414
G400
OFFICE CANYON
ROOMF111
OFFICEF108
OFFICEF110
OFFICEF106
OFFICEF105
OFFICEF104
OFFICEF101
OFFICEF102
OFFICEF103
G H
ALL
F HALL
STOR.F200OFFICE
F300
OFFICEF301
OFFICEE400
OFFICEE500
OFFICEE600
ELEC.E100
OFFICEE200
CONFERENCEE300
OPENOFFICEA1200
STOR.A1201
STORAGEG202
OFFICEA101
SEC.A103
OFFICEA102
CONF.A501BIG
COTTONWOODCANYON ROOM
A500
STORAGEA502
STORAGEA503
STOR.A800
KITCHENA700 STORAGE
A600
OFFICEA200
OFFICEA300
BHALL
BREAKROOMA800
STOR.202
STOR.D203
CLOSETD300
OFFICEC401
RECEP.C400
LITTLECOTTONWOOD
ROOMC300
OFFICEC104
OFFICEC105
OFFICEC106
OFFICEC107
OPENOFFICE
C200
E H
ALL
D HALL
VESTIBULE
VEST.
VEST.
VEST. VEST.
WAITING
STOR.G601
OFFICEG503
CONF.G501SECRETARY
G500
OFFICEG411
OFFICEG410
OFFICEG409
STORAGEG502
I.T. ROOMG602
TOILETA801
TOILETA802
STOR.A803
C H
ALL
A HALLA HALL
OFFICEG203
OFFICEG200
OFFICEG105
OFFICEG104
OFFICEG103
RECEPTIONG101
CONFERENCEC108
STORAGEC205
OFFICEF107
CONF.G300
RECEPTIONA1203
OFFICEC111
Natural Gas Station - Property Features
+ 0.71 acre
+ Parcel #: 27-01-351-034
+ Frontage on 500 West, 245 ft.
+ Built in 1990
+ Traffic Counts 500 West 2014 AADT: 18,000
+ Rental income: $1,175 per month
+ Sale price: $225,000
Historical Royalty Income Amount
10/01/16 to 10/31/16 $1,130.38
09/01/16 to 09/30/16 $1,063.47
08/01/16 to 08/31/16 $1,293.37
07/01/16 to 07/31/16 $1,247.70
06/01/16 to 06/30/16 $1,337.33
05/01/16 to 5/31/16 $1,179.08
04/01/16 to 04/30/16 $1,131.73
03/01/16 to 03/31/16 $1,115.28
02/01/16 to 02/29/16 $1,001.65
01/01/16 to 01/31/16 $1,135.70
12/01/15 to 12/31/15 $1,310.90
11/01/15 to 11/30/15 $1,414.11
10/01/15 to 10/31/15 $1,796.09
Natural Gas Station - Property Features
Land - Property Features
+ 7.83 acres land
+ Parcel #: 27-01-351-034, 27-01-351-033
+ Mixed use land
+ ID - Industrial Commercial District Zoning
+ Frontage on 500 West, 194 ft.
+ Mostly level topography, at street grade with 500 West
+ Traffic Count on 500 West, 2014 AADT: 18,000
+ Sale Price: $2,300,000
Land - Property Features
1,300 ft
436 ft
249 ft
197 ft
Rio TintoStadium
Salt LakeCommunity
College
SouthTownMall
Sam’sClub
Area Amenities
SITE
POPU
LATIO
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WTH
2016 Estimated Population 1 Mile 3 Miles 5 Miles
2016 Estimated Population 8,244 116,859 327,754
2021 Projected Population 8,727 124,209 346,984
2016 Estimated Households 3,188 40,341 108,122
2021 Projected Households 3,374 42,988 114,631
Population Growth 2010-2016 9.5% 14.1% 9.7%
Population Growth 2016-2021 5.9% 6.3% 5.9%
2016 Average Household Income $71,753 $80,234 $92,998
2021 Projected Household Income $73,643 $81,638 $94,687
Regional Drive Times
EC
ON
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RV
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Employment within the State grew 3.0% during 2016 compared to 1.6% over the same time period in the entire United States. The state’s unemployment rate of 3.1% is down from 3.4% a year earlier. By comparison, the U.S. unemployment rate for the same period was 4.6%.
Additional economic highlights and State accolades are listed below:
Utah Economy – Utah’s story remains similar to recent years; economic growth is outperforming the national economy and the outlook remains bright.
Demographic Shifts – Utah was declared the fastest-growing state in the nation, according to the U.S. Census Bureau, with a 2.03% increase in growth from 2015-2016.
Labor Market – With an unemployment rate of 3.1%, Utah lauds one of the lowest unemployment rates in the nation.
Future Growth – Utah’s employment growth rate has been positive and steadily increasing since 2011, averaging 3.0% over the period—about twice the national rate of growth. This average rate is expected to remain for the near-term.
Utah’s Tech Industry – From 2010-2015, technology jobs in and around Salt Lake City increased by 22% making it the tenth-fastest growing tech area in the nation. This growth has had positive effects on the local economy, including commercial real estate, as tech firms accounted for 37% of top leases finalized through mid-year 2016. With a strengthening presence along the Wasatch Front, Silicon Slopes has also become a force for economic growth within the state and has contributed to Business Insider ranking Salt Lake City as the #1 hot startup city that isn’t San Francisco or New York City.
Exports and Manufacturing – Utah continues to play a key role in the global export market, currently ranking #9 in the nation for export growth. Manufacturing in the aerospace and medical device industries also has a growing presence in Utah, while gold remains the state’s #1 export.
Business Growth – Pollina Corporate ranked Utah as the #1 pro-business state in the nation for the fourth year in a row. Utah has also been ranked America’s top state for business in 2016 by CNBC while Forbes named Utah the #1 best state for business for the 6th time (2016).
© 2016 CBRE, Inc. This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.
For more information, please contact:
Patrick JuhlinSenior Associate+1 801 869 [email protected]
Tab CornelisonSenior Vice President+1 801 869 [email protected]
9150 SOUTH 500 WESTL A N D & O F F I C E F O R S A L E • S A N D Y , U T A H