July 2, 2013

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Article

Security National Financial Corporation Buys Office Building

Press Release

July 2, 2013

Draper — Security National Financial Corporation announced the completion of the purchase of a class-A office building, known as Wasatch 16, in Draper, Utah, a suburb of Salt Lake City.

Wasatch 16 has a total square footage of approximately 80,000 square feet with a current occupancy rate of 92 percent. In the past six months, the Security National has increased its corporate real estate holdings by over 450,000 square feet.

As the market for quality commercial office buildings continues to show an increase in overall returns, Security National anticipates continued growth in this area in the future. “Purchasing the Wasatch 16 commercial office building was a tremendous opportunity to acquire an institutional-quality asset at a favorable cap rate,” said Bryce Baker, manager of corporate real estate. “The stabilized asset was acquired below replacement cost in a submarket of the Greater Salt Lake City area that is currently experiencing low vacancy rates.“

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