Patrinely Group and USAA Real Estate break ground on 650 Main
Salt Lake City— A development venture comprised of Patrinely Group and USAA Real Estate today announced the start of construction on 650 Main, a 10-story, 332,100-square foot Class A office and retail development located at the corner of Main Street and 600 South in downtown Salt Lake City.
“Breaking ground on 650 Main reinforces our confidence in the strength and appeal of Salt Lake City as a premier business environment and aspirational destination for individuals and companies,” said RobertFields, president and CEO of Patrinely Group. “We have a building that meets the expectations of today’s office users by creating an amenity rich environment with large light-filled floor plates and tall ceiling heights, along with generous parking and unimpeded views.”
Designed by HOK, an innovative global design firm, and scheduled for completion in early first quarter of 2022, the 650 Main development is targeting LEED v4 Gold and has highly efficient floor plate sizes ranging from 40,000 rentable square feet on the lower floors (levels 1-4) to 29,500 rentable square feet on the upper floors (levels 5-10). The building design will incorporate the latest technology and a variety of amenity areas to promote health and wellness throughout the development.
650 Main will feature a diverse mix of Class A offerings, such as floor-to-ceiling glass and 10-and 11-foot ceiling heights to maximize sunlight, outdoor tenant terraces, and mountain views. Amenities will include a tenant exclusive indoor fitness center opening to an outdoor fitness courtyard, along with men’s and women’s locker rooms. Other amenities include bike storage, a private courtyard for social gathering, flexible conference facilities for small or large groups, a large lobby with seating areas, and a separate onsite restaurant space with indoor and outdoor dining options.
In March 2020, the joint venture announced its first office lease at 650 Main with EnerBank USA®. The national consumer lender company will occupy 88,900-square-feet on the top three floors of the building. EnerBank USA®selected 650 Main because of its prime location, ease of access to Interstate 15, and adjacency to a future TRAX light rail station,along with the building’s efficient design and modern amenities. The project currently has 238,600 square feet of office space and 4,600 square feet of retail space available to lease. Additional expansion opportunities of up to 326,000 square feet is available in 645 W Temple, a future adjacent office building representing a second phase of the development masterplan.Construction financing is provided by QuadRealFinanceInc.a global real estate investment, operating and development company headquartered in Vancouver, Canada.The landlord’s leasing team is represented by Aaron Jones, Todd McLachlan and Roman Bernardo of Newmark Knight Frank, and under the direction of Dennis Tarro of Patrinely Group.For more information about 650 Main visit us online at www.650main.com.
About Patrinely Group, LLCPatrinely Group is a national real estateinvestment,development and management firm focused on largescale,Class A mixed-use, office and multifamily properties in major markets.Recognized as a leader in real estate development since 1983, Patrinely Group has completed$10 billion in transactions and is experienced with all real estate assetclasses. For more information, visitwww.patrinelygroup.comand www.650main.comAbout USAA Real Estate The mission of USAA Real Estate is to strengthen the profitability and diversity of the USAA investment portfolio and those of its investor clients by acquiring, developing, financing and managing quality real estate investments. The portfolio consists ofoffice, industrial/logistics, multifamily, retail and hotel properties. Visit www.usrealco.comfor more information.