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Provo — Cushman & Wakefield | Commerce brokered the sale of the office building which serves as the headquarters for Vivint.
The 125,225-square-foot, two-building, single-tenant office building was sold by Gardner Company, of Salt Lake City, to Reit Management & Research LLC, of Newton, Mass. Reit Management & Research is a real estate management company, which manages a large real estate portfolio consisting of about 1,700 properties in 46 states, Washington DC, Puerto Rico, Canada and Australia.
Kip Paul, Executive Director of Investment Sales for Cushman & Wakefield | Commerce, represented both the buyer and the seller.
“This is one of the larger commercial real estate transactions Utah County will see this year,” Paul said. “The stunning building has won design and architectural awards for its numerous amenities and innovations. For instance it has a full-service gym, a million-dollar food service facility and medical clinic for employees, backup generators and a sophisticated three-stage HVAC system—not to mention nearly 100,000 square feet of office space.”
The building, constructed in 2009, was featured in Interior Design Magazine and named “Best of Year 2010” for large office buildings. It is located less than two miles from Brigham Young University and Utah Valley University.