Cushman & Wakefield | Commerce Negotiates Long-Term Lease for Venafi

Cushman & Wakefield | Commerce has negotiated a seven-year lease on a new corporate headquarters in downtown Salt Lake City for the data security firm Venafi. The 37,000-square-foot space occupies an entire floor of the City Centre Building at 175 E. 400 South.

Cushman & Wakefield | Commerce represented both the tenant and the landlord. Mike Richmond, senior director and Dana Baird, senior director represented the landlord, Wasatch Commercial Management. Dana Baird and Peter Hanlon represented the tenant in the transaction.

“Venafi was previously in an 18,000-square-foot suburban office and quickly running out of space,” Baird said. “This new lease provides them with more than double the space in a vibrant, downtown site that is directly adjacent to a TRAX line, which made it even more attractive.”

Part of what made this an ideal location for the tenant was the large floor plate, which enables everyone to be on the same floor. Baird said this was a big selling point because it will allow them to include spacious “collaboration areas” as part of the build-out.