February 14, 2013

Cover Story

CEO of the Year

Utah’s business landscape is rich with professionals who have le...Read More

Featured Articles

Did you go Skiing this winter?

Around Utah

Sections

Spotlight
Martin Plaehn

Spotlight
Karen Sendelback

Legal Briefs
Social Media and Employers: Friends or Enemies?

Money Talk
The Case for HSAs

Economic Insight
Time to Show Up

Lessons Learned
Make a Move

TechKnowledge
In the Lab

EntrepreneurEdge
Rent to Own

Business Trends
Back from the Dead

Living Well
Artful Inspiration

Features
A Breath of Fresh Air

Features
Worst-Case Scenario

Regional Report
Northern Utah

Focus
Measure Up

Industry Outlook
Travel & Tourism

Players
Players

Article

Westgate Office Buildings Sold

Press Release

February 14, 2013

Salt Lake City’s Westgate Office Buildings, located at 300 West, has been sold to a private individual by Westside Property Associates. CBRE’s investment team of Craig Thomas and Eric Gustafson represented the Westside Property in the transaction.

Westgate consists of two office buildings, which were originally constructed in 1919 and 1929 and thoroughly renovated in 1985. The buildings total 73,695 SF and are located between Gateway Mall and Salt Lake City’s central business district.

“The downtown area has become an increasingly attractive area in which to invest,” said Craig Thomas, senior vice president of CBRE. “The property received multiple offers due to its proximity to Gateway, Energy Solutions and downtown.”

The property could easily be converted to multifamily use, Gustafson said.

“Rental rates over the past year increased by 4.7 percent in the downtown market,” he said. “With our 2013 forecast of an overall increase of 6.1 percent in rental rates, and a forecasted multi-housing vacancy rate of only 3.8 percent, it appears to be an excellent time to get into that market.”

Utah Business Social
UB Events View All
Utah Healthcare Summit and Healthcare Heroes Utah Business Event
Oct 6, 2015
The Utah Healthcare Summit is a gathering of all of the major employers, healthcare professionals...
Sustainable Business Awards Utah Business Event
Nov 19, 2015
Utah Business magazine is pleased to announce the Utah Sustainable Business Awards. This program ...
Sustainable Business Awards 2015 - NOMINATIONS OPEN IN JULY 2015Utah Business Event
Nov 19, 2015
Utah Business magazine is pleased to announce the 2015 Sustainable Business Awards! This program...
Community Events View All
Advanced Human Resources Management 5-day Certificate Program
Sep 3, 2015
Employers Council, a trusted non-profit employers association, is proud to present Advanced Human...
Utah Special Needs Workshop
Sep 8, 2015
Utah Special Needs Workshops gives information that empowers families to create the best environ...

info@utahbusiness.com  |  90 South 400 West, Ste 650 Salt Lake City, Utah 84101   |  (801) 568-0114

Advertise with Utah Business

Submit an Event

* indicates required information
* Event Name:
Price (general):
Website (if applicable):
Coordinator's Name:
Coordinator's Email:
Coordinator's Phone:
Venue Name:
Venue Address:
Venue City:
Venue Zip:
Event Capacity:
Date(s):
to
* Event Description:
  Cancel