SOURCE: Commerce Real Estate Solutions

June 20, 2012 14:09 ET

Cushman & Wakefield | Commerce Brokers 7 Acre Commercial Property Purchase at View 72

SALT LAKE CITY, UT--(Marketwire - Jun 20, 2012) - Commerce Real Estate Solutions, an independently owned and operated member of the Cushman & Wakefield Alliance (www.comre.com), today announced they have negotiated the purchase of seven acres of land by Savage Services at the mixed-use development of View 72 which is located at 7200 South and just west of I-15. View 72 is a Joint Venture project between Gardner Company and Arbor Commercial and spans 100 acres. This purchase will enable Savage Services to build the first of two planned buildings totaling 120,000 SF for their global headquarters.

"Savage Services is moving its corporate headquarters to this area to not only expand the size of its current space, but to also take advantage of the location, which is adjacent to a major freeway exit and a TRAX stop that is now operating on the View 72 property," said Dana Baird, senior director with Cushman & Wakefield | Commerce. "This is a prime location, and the momentum is building with several other companies expressing interest in becoming a part of the View 72 development."

Savage Services had specific needs and requirements for their new space. Agents Mike Richmond, Dana Baird and Jon Cowley of Cushman & Wakefield | Commerce handled site selection for Savage Services exclusively. After investigating all opportunities in the Salt Lake valley, View 72 was chosen as the preferred site.

"When we realized we were outgrowing our current space, we started to conduct long-term planning for future needs and approached Commerce Real Estate Solutions for assistance," said Curtis Dowd, executive vice president and chief financial officer for Savage Services. "This will be the first time in our 67-year history we will be headquartered in a space that is specifically designed and purpose-built for us. The professionals at Commerce did a great job in coming to a conclusion for a space and fulfilling our needs. We are looking forward to breaking ground on the project and moving into our new headquarters in early 2014."

Christian Gardner, president and CEO of Gardner Company, said he is particularly enthusiastic about this property development. "Without the dynamic leadership of Cushman & Wakefield | Commerce this deal would not have happened. The entire team was instrumental in making this project come to fruition," he said. "We look forward to working with Savage to build a spacious, LEED-certified and unique building that reflects the quality and culture of its organization."

Groundbreaking and construction on the new building will begin in the first quarter of 2013. Cushman & Wakefield | Commerce is handling marketing for the View 72 project.

About Commerce Real Estate Solutions

Commerce Real Estate Solutions, an independently owned and operated member of the Cushman & Wakefield Alliance, has been the leading provider of real estate brokerage services for more than 30 years. Headquartered in Salt Lake City, Commerce Real Estate Solutions has offices throughout Utah, Nevada, Idaho and Washington. Commerce Real Estate Solutions offers consulting, brokerage, tenant representation, property and facilities management, and valuation services to corporations, institutions and investors throughout the Intermountain West and Pacific Northwest. For more information, and for property listings, broker information, market category reports and more visit www.comre.com.

About Cushman & Wakefield

Cushman & Wakefield is the world's largest privately‐held commercial real estate services firm. The company advises and represents clients on all aspects of property occupancy and investment, and has established a preeminent position in the world's major markets, as evidenced by its frequent involvement in many of the most significant property leases, sales and assignments. Founded in 1917 it has 243 offices in 60 countries and more than 14,000 employees. It offers a complete range of services for all property types, including leasing, sales and acquisitions, equity, debt and structured finance, corporate finance and investment banking, corporate services, property management, facilities management, project management, consulting and appraisal. The firm has more than $4 billion in assets under management through its wholly‐owned subsidiary Cushman & Wakefield Investors. A recognized leader in local and global real estate research, the firm publishes its market information and studies online at www.cushmanwakefield.com/knowledge.

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