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NAI WEST recently represented FL Smidth in the lease of 40,000 square feet of office space. The location is a temporary space while FL Smidth awaits construction of its new, permanent location.
The temporary office is located at the Bridge Building at 5295 South Commerce Drive in Salt Lake City. FL Smidth increased the amount of space leased through several transactions, the most recent of which was completed on August 13, 2012. FL Smidth was represented by NAI WEST Office Specialists Jake Davis and Aaron Jones in the transactions. The landlord was represented by Dale Nelson with Bridge Building Property Management.
Speaking of the transaction, Davis said, “This location will act as a temporary office while FL Smidth finishes construction on their new building. The expansion of the company and the construction of this new office are reflective of the growth we are seeing in Utah’s office market.”
NAI WEST outlined this growth in its recently released mid-year report, detailing the improvement in the market through the first six months of 2012. There has been a slight decrease in vacancy rates, as they have dropped just under 14 percent. There has also been a substantial increase in new construction.