SOUTH JORDAN, Utah — Fort Street Partners has completed the acquisition of Daybreak Corporate Center, a 177,000 square foot, multi tenant office building in a rare off-market purchase. The building is located in the heart of Daybreak, a 4,000 acre master planned community in South Jordan, Utah.
“Daybreak and the greater Southwest Valley are experiencing continual growth, which has been fueled by westward movement of executives and decision-makers,” commented Jim Balderson, Founder and CEO of Fort Street Partners. “This building’s strong tenancy and prime location made for an easy decision to add to the Fort Street portfolio.”
Built in 2008, Daybreak Corporate Center is among the highest-quality office buildings in Utah with craftsmanship exceeding typical Utah market standards. Constructed with high energy-efficiency guidelines, the property features a 512-stall structured parking garage, a rooftop patio, and walkable access to restaurants, retail, trails, and the Daybreak Beach Club. The recent completion of an 8,000-seat stadium for the Salt Lake Bees by the Larry H. Miller Group further adds to the vibrancy and appeal of the area.
Jenny Taumoepeau, Fort Street Partners COO commented, “The Daybreak area of South Jordan is favored by successful young families, making for a dynamic commercial real estate market, and a great asset for Fort Street Partners. We look forward to being a part of the Daybreak community, sharing this beautiful space with the professionals in the area.”
With current occupancy at 95.4%, this class A space is anchored by long-term tenant Rio Tinto and also houses leading technology companies Travelpass Group, and Enova. This location serves as Rio Tinto’s North American headquarters, housing key personnel including engineers who support mining operations. Fort Street Partners has plans to renovate and lease the remaining space within the building.
Quality buildings in Utah continue to see strong demand, and growth will continue as more companies go back into the office. Daybreak Corporate Center’s walkable amenities deliver a true urban-style workplace environment in a suburban setting, a highly sought after combination for professionals spending more time in-office.
“This has been an incredible window for Fort Street to acquire best-in-class premiere office space,” Balderson said. “Our acquisition of Daybreak Corporate Center provides significant market upside with stable cashflow.”
About Fort Street Partners
Fort Street Partners own a strong portfolio of more than 1.8 million square feet of office, retail and medical properties. The team consists of market-leading property and construction managers, finance professionals, and leasing and acquisition experts.