Investment Sale 1000 SOUTH PLAZA · Evenings at Gourmandise have become perhaps their favorite time...

1000 South Main St Salt Lake City, UtahInvestment Sale

1000 SOUTH PLAZA

Colliers International6550 S Millrock Dr | Suite 200

Salt Lake City, UT 84121P: +1 801 947 8300

+1 801 837 [email protected]

Sky Hazlehurst+1 801 309 [email protected]

Brad Brown

COLLIERS INTERNATIONAL P. 2Granary District Strip Center | 1000 South Main Investment ACCELERATING SUCCESS

1000 SOUTH PLAZA1000 SOUTH MAIN STREET

Table of Contents

> Executive Summary ..................................................................3Investment Overview ........................................................................................... 4

Tenant Overview .................................................................................................. 6

Neighborhood Overview ...................................................................................... 8

SLC International Airport ..................................................................................... 9

Why Utah? ...........................................................................................................10

Maps, Aerials, Photos ..........................................................................................11

> Property Overview ................................................................... 11Region Map ......................................................................................................... 12

Tenant Aerial ....................................................................................................... 13

Aerial Map ........................................................................................................... 14

Site Plan .............................................................................................................. 15

> Property Photos ...................................................................... 161000 South Plaza ............................................................................................... 17

COLLIERS INTERNATIONALACCELERATING SUCCESS

1000 South Main Investment Sale1000 SOUTH PLAZA

> Executive Summary



ExEcutivE Summary

PrOJEct OvErviEWThe 1000 South Plaza is a unique investment opportunity. Located near the vibrant Granary/Central District, this property is in the path of major growth and development. This well-positioned asset sits on nearly 2 acres and is fully leased. This property boasts excellent proximity to I-15 freeway access, public transportation and downtown amenities.

There are nearly 1,000 residential units coming on-line within walking distance to the Subject Property. This is a mix of apartments and townhome projects all under construction or in early development stages. The proximity to downtown amenities coupled with the immediate access to TRAX and I-15 make this diverse property extremely difficult to replicate.

KEy attriButES• 23,826 square foot building

• 1.93 acres

• Six tenants with a great mix of uses

• Unique, original warehouse property with quality retrofit construction complete

• Parking: 4.2 parking stalls per 1,000 square feet

• Potential Retail Pad

Ideal Lunches

Potential Pad

900 SOUTH

MAIN STREETSitE aEriaL aND PLaN

Investment Overview

PricE PEr SQuarE FOOt

$ 5,400,000

$ 231

SaLES PricE:



ExEcutivE Summary

Tenant Overview> GOurmaNDiSE, tHE BaKEryGourmandise has two locations and has been famous for the finest assortment of European pastries & desserts in the Salt Lake Valley. These days, they’re known as a favorite classy-casual downtown eatery from morning until late at night. They start the day with scratch-made pastries and hearty made-to-order day-starters. Lunchtime is always bustling as their friends enjoy unique house made specialty sandwiches, salads and soups. Evenings at Gourmandise have become perhaps their favorite time of day, as folks enjoy their renowned small plates with a glass of wine or imported beer... or opt to finish off their evening on the town with some dessert and a warm drink made by our barista. Whenever you stop by, they’ll be delighted to serve you and hope you will see why this place has been bringing smiles to people’s faces for decades.

> SuBWaySubway is an American privately held fast food restaurant franchise that primarily sells submarine sandwiches (subs) and salads. Subway is one of the fastest-growing franchises in the world[2] and, as of June 2017, has approximately 45,000 stores located in more than 100 countries. More than half of the stores are located in the United States.[1][3][4] It is the largest single-brand restaurant chain and the largest restaurant operator in the world

> iDEaL LuNcHESIdeal Lunches is owned and operated by Stephen Christensen and Sadie Ivie. This business is a lunch services company working solely off of school contracts. Ideal Lunches provide healthy lunch preparations and delivery to multiple charter schools throughout the Salt lake City Valley.

> tHE LDS cHurcHOften informally known as the “Mormon Church”, the church is headquartered in Salt Lake City, Utah, and has established congregations and built temples worldwide. According to the church, it has over 67,000 missionaries and a membership of over 16 million. In 2012, it was ranked by the National Council of Churches as the fourth-largest Christian denomination in the United States, with over 6.5 million members reported by the church, as of January 2018. It is the largest denomination in the Latter Day Saint movement founded by Joseph Smith during the period of religious revival known as the Second Great Awakening.



ExEcutivE Summary

Tenant Overview> KimBaLL iNvEStmENtKimball Investment Company was formed in 1977 by Victor and David Kimball. Victor and David’s broad experience in developing and marketing commercial real estate has enabled them to accomplish numerous land acquisitions, lease buy-outs, land assemblage, condominium conversions and the development and management of hotels, shopping centers, industrial parks, office buildings, residential subdivisions, and apartments. Their expansive developments can be found in Utah, Nevada, Texas, Idaho and California.

> iHcIntermountain Healthcare operates 22 hospitals in Utah and Idaho. Intermountain also operates 185 clinics, and urgent care facilities that are run by physicians as part of the Intermountain Medical Group. In total, Intermountain Healthcare operates over 160 healthcare facilities, employs about 1,400 of Utah’s 5,000 physicians and provides insurance to about 22 percent of Utah. It is also the largest private employer in Utah.



ExEcutivE Summary

Neighborhood Overview> SaLt LaKE cOuNtySalt Lake County, Utah is the largest County in the state having a population of 1.11M people with a median age of 32.3 and a median household income of $65,694. Between 2014 and 2015 the population grew from 1.09M to 1.11M, a 1.43% increase.

The median property value in Salt Lake County, UT is $256,800, and the homeownership rate is 65.6%. Most people in Salt Lake County, UT commute by driving, and the average commute time is 20.8 minutes. The average car ownership in Salt Lake County, UT is 2 cars per household.

The economy of Salt Lake County, Utah employs 563,382 people. The most common job groups by number of people are Management, Business, Science, & Arts, Sales & Office, and Service. Compared to other counties, Salt Lake County has an unusually high number of residents working in Production; Administrative; and Life, Physical, & Social Science.

The Utah Transit Authority operates public bus and rail service throughout Salt Lake County and beyond to the entire Wasatch Front. The light rail system, known as TRAX, currently has three lines. The Blue Line runs from Downtown Salt Lake City to Draper, the Red Line from South Jordan to the University of Utah, and the Green Line from West Valley City to the Salt Lake City International Airport (via Downtown Salt Lake City). There are currently 50 stops in the system. The FrontRunner commuter rail line provides all-day service to Ogden on the north and Provo on the south.



ExEcutivE Summary

SLC International Airport> tHE NEW SaLt LaKE city iNtErNatiONaL airPOrtSalt Lake City has grown into a hub airport with many flights arriving and departing around the same time. Security needs are vastly different and buildings that meet earthquake safety standards are required. The existing facilities have served passengers well but it’s time to make way for the next generation of airport design. Here are some highlights of:

• Replace Obsolete Facilities: Today’s facilities are not efficient for use as a modern hub airport and are not built to today’s earthquake standards.

• Flexible, Right-Sized Design for the Future: The new facility will be designated to meet Salt Lake City’s needs for decades and be adaptable to the constantly changing aviation industry.

• More Efficient: The new terminal will eliminate airplane parking bottlenecks and allow airlines to get planes back in the air more quickly, meaning fewer delays for passengers.

• Remain Cost-Competitive: SLC is one of the nation’s most cost-efficient airports for airline operations and replacing aging facilities will help keep costs low. The program is funded by federal grants, user fees, airport revenue bonds and airport reserves. No local tax dollars will be used for the airport redevelopment program.

• Maintain Partnership with Airlines: The SLC International Airport has a great partnership with the airlines that serve SLC. Delta Air Lines, the airport’s largest user, is supportive of the terminal redevelopment program, as are other airlines.

• Construction on the $3 billion plus program began in July 2014 and will continue in phases through 2023/2024. The parking garage, terminal building and west portions of the north and south concourses will be completed in 2020.



ExEcutivE Summary

Why Utah?> utaH tOP raNKS

• Utah is a national leader in job growth, unemployment, low cost of doing business, and talented labor. Utah regularly tops rankings for best states for business, careers, living, health, and quality of life.

• Utah Named #10 Among Best Places to Live - U.S. News and World Report

• Utah Ranked #3 Best Economy - WalletHub

• Salt Lake Among Top 15 Cities Where Millennials are Moving - Time Magazine

• Salt Lake City (and the Wasatch Front) Ranked #1 Among Cities Poised to Become Tomorrow’s Tech Meccas - Forbes

• Two Utah Cities (Provo-Orem and Logan) Voted among the Best in America for “Successful Aging” - Milken Institute

• America’s 25 Best Cities For Young Professionals in 2017 - Forbes

• Salt Lake City Named #1 City Where Young People Want to Be - realtor.com

• Utah the Best Place in the Country to Find a Job - U.S. News

• Utah Tops the List of Happiest States in America 2016 - WalletHub

> utaH tOP EmPLOyErS (2016)• Intermountain Healthcare

• University of Utah

• State of Utah

• Brigham Young University

• Wal-Mart

• Hill Air Force Base

• Utah State University

• Davis County School District

• Granite School District

• Smith’s Food and Drug



> Property Overview

Maps, Aerials, Photos



PrOPErty OvErviEW

Region Map

SITE



PrOPErty OvErviEW

Tenant Aerial

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PrOPErty OvErviEW

Aerial Map

Anderson Motor Company

Genoa Healthcare

Monson Engineering

Midwest Commercial Interiors

1000 S Main St

Temple Square2 Miles North

East

To

To

South

West Temple

Main St



PrOPErty OvErviEW

Ideal Lunches

FAYETTE AVE

MAIN STREET

Potential FuturePad Development

100’10,000 SF

100’

Site Plan



> Property Photos



PrOPErty PHOtOS

1000 South Plaza

1000 South Main St Salt Lake City, UtahInvestment Sale

1000 SOUTH PLAZA

Colliers International6550 S Millrock Dr | Suite 200

Salt Lake City, UT 84121P: +1 801 947 8300

+1 801 837 [email protected]

Sky Hazlehurst+1 801 309 [email protected]

Brad Brown

Date post:	18-Mar-2020
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Investment Sale 1000 SOUTH PLAZA · Evenings at Gourmandise have become perhaps their favorite time...

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