March 13, 2014

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Article

Sale of 222 Main Completed

Press Release

March 13, 2014

Salt Lake City — Cushman & Wakefield | Commerce today announced that a team of its brokers has completed the sale of 222 Main, a class-A office tower in Downtown Salt Lake City.

The sale of the 426,657-square foot building is the largest single-asset sale in the history of the state. 222 Main was sold by Chicago-based Hamilton Partners, who developed the property, to KBS of Newport, Calif.

222 Main has LEED Gold certification, Energy Star rating, state-of-the art infrastructure, energy efficient fixtures and green building materials. The property is currently 85 percent leased to tennants including Goldman Sachs, Holland and Hart and others.

The Cushman & Wakefield | Commerce team was led by Tim Richey, vice chairman of the capital markets group in Denver.

“The sale of this premier office building is the largest deal Salt Lake City has seen to date,” said Tim Richey, vice chairman of Cushman & Wakefield | Commerce's capital markets group in Denver. “The competition for this stunning property was extremely active because everything about it from the tenants, its location, its energy efficiency, to its gorgeous design all add up to make it exceptionally appealing to investors.”

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