Cushman and Wakefield Commerce’s Alison Beddard and Peter Hanlon, in cooperation with CBRE’s Barb Johnson and Vic Galanis, led the representation and negotiation of the University of Utah Health’s new build-to-suit ambulatory care center in the heart of downtown Sugar House on behalf of the tenant.
With a scheduled completion in mid-2019, the 170,000-square-foot site will house a consolidated specialty clinic which provides world-class outpatient services to citizens across the Salt Lake Valley.
The new state-of-the-art clinic is part of a premier Sugar House site formerly occupied by Shopko at the intersection of I-80 and 1300 East being redeveloped by Westport Capital Partners LLC, a real estate investment firm, on behalf of certain funds it manages.
“Three years in the making, this deal is the largest medical lease transaction in Utah in recent years,” said Alison Beddard, Senior Director of Office and Investment at Cushman & Wakefield Commerce. The comprehensive healthcare center will house a University of Utah health center that provides ambulatory—or outpatient—services. This will include primary care, radiology and urgent care services, as well as specialty services such as the Moran Eye Center, among others.
Vic Galanis, First Vice President with CBRE noted, “With its premiere location in the Sugar House market, the capabilities this site offers are second-to-none. Having a health clinic with such ease of access, as well as visibility from the interstate, will serve the University of Utah well as they strategically look to continue growing while offering superior client care.”
“The vision and leadership of Jonathon Bates and Wayne Imbrescia at the University of Utah are what made this undertaking successful,” added Barb Johnson, First Vice President at CBRE. “They saw the opportunities this mixed-use project could provide and it was their foresight and dedication in working with the developer that really made this deal come together.”
Peter Hanlon, Director of Office and Healthcare at Cushman & Wakefield Commerce concluded, “This large transaction is a reflection of a growing trend for healthcare organizations. Leading-edge health care organizations, such as the University of Utah Health, are securing properties upon which to build new healthcare delivery systems that provide consumers and patients an outpatient care experience that is pleasant, convenient and close to where they live and work.”