New GENEVA ROAD AREA-WIDE PLAN · 2020. 6. 1. · rtain condit ublic from t to the so‐ca onmental co residential o and include ethodology d imply to ded ce of market pose propert

GGENEVA

A ROADMarket

D AREAAnalysis Re

A-WIDE eport

PLAN

TABLE MARKET STU

OVERVIEWBROWNFLOCAL CHINDUSTRIRETAIL COOFFICE C

KEY INFORMOVERVIEWFINDINGS

PERCEOPPOROLE O

APPENDIX AAPPENDIX B

OF CONUDY ..................W ....................IELD REDEVELOPMHARACTERISTICS ..AL COMPARABLESOMPARABLES .....OMPARABLES ....ANT INTERVIEWS W ....................S ......................EPTIONS OF MARKRTUNITIES FOR REOF THE CITY IN SU: MAPS ............: SALES DATA ....

NTENTS ..............................................MENT ......................................S ........................................................................................................................................KET STRENGTHS AEDEVELOPMENT A

UPPORTING REDEV..............................................

.......................

.......................

.......................

.......................

.......................

.......................

.......................

.......................

.......................

.......................ND WEAKNESSESAND THREAT OF EVELOPMENT .....................................................

.......................

.......................

.......................

.......................

.......................

.......................

.......................

.......................

.......................

.......................S .......................ENVIRONMENTAL C......................................................................

.......................

.......................

.......................

.......................

.......................

.......................

.......................

.......................

.......................

.......................

.......................CONTAMINATION.....................................................................

P

........................

........................

........................

........................

........................

........................

........................

........................

........................

...............................................

N .............................................................................................

Prepared for t

.......................

.......................

.......................

.......................

.......................

.......................

.......................

.......................

.......................

.......................

.......................

.......................

.......................

.......................

.......................

the City of Ore

........ 1

........ 1

........ 2

........ 3

........ 4

........ 6

........ 6

........ 7

........ 7

........ 8

........ 8

........ 9

...... 10

...... 11

...... 12

em by

MARKET STUDY

OVERVIEW BRS Inc. was retained to work with the City of Orem to address the economic opportunities and challenges presented by the redevelopment of potential brownfield sites in the Geneva Road corridor. The goal is to build strong, informed leadership to assist the community in a discussion of priorities as they relate to the local economy.

The first half of the market analysis began in January 2018 with BRS, Inc. conducting a market study for the Geneva Road corridor in the City of Orem.

The purpose of this study is to provide information regarding real estate market comparables or “comps” for the catalyst site group located along Industrial Park Road and Geneva Road between State Route 52 (West 800 North) and West 1200 North in the Orem Geneva Road Brownfield Study Area. All comparables are located within a 5‐mile radius of the catalysts sites in the towns of Orem, Provo, Vineyard, American Fork, Lindon, Highland, Lehi, or Pleasant Grove.

Comparables are properties with characteristics that are like a subject property whose value is being sought. In this case, the characteristic being examined is limited to location, as the catalyst properties are all unimproved sites and the comparables are all existing buildings with a history of sales and/or rental transactions that demonstrate their market value. Additionally, the catalyst sites are located within a district zoned for industrial and manufacturing use, whereas the comparables are located within various zoning districts not necessarily restricted to industrial use.

The comparables provided in this study offer a general locational comparability to the catalyst sites to inform inference of the highest and best use of the site as guide for potential future development. In addition to industrial comparables, neighborhood and community shopping centers (“retail”) and office space transactions are also provided for additional context, although neither retail nor office use is a currently approved use of the catalysts sites.

All data presented in this study is provided through Reis Services, a provider of commercial real estate market information and analytical tools to real estate professionals. Reis Services was founded in 1980 and maintains a proprietary database containing detailed information on commercial properties in metropolitan markets and neighborhoods throughout the U.S. Reis Services is not a listing agency and instead develops verified transaction information through primary research including on‐site inspections and interviews with agents, owners and tenants of the subject properties. In this way, Reis assures the accuracy and usability of the information having screened out less than arm’s length transactions and

IMAGIN

other factransactioto 2011 aand a map

BROWNAs part ofare knowbased onRedevelopremediateprocess tcontamin

The type permittedof the Utremediatiplace to pbeen fullycontext odevelopmmust be f

In generacontaminproperty. treated acontinuesassessmevalue wheclean‐up c

NE OREM: GENE

ctors that maons. The comnd is current p of all transa

NFIELD REf the planningwn or suspecn their historpment on bre a contaminthat can takation is gathe

and spatial ed following cotah Departmion, under ceprotect the py remediatedof the envirment, such asully evaluated

l, appraisal mation is not sIn the absens special purs to operate nt techniqueere a sophisticosts, freely n

EVA ROAD AREA

ay obscure aparable propas of the fouaction locatio

EDEVELOP

g process forted to be ery of land usrownfields mated site is soke many moered and eval

extent of the ompletion of ent of Enviroertain conditpublic from t to the so‐caronmental cos residential od and include

methodology dsimply to dednce of marketrpose propertthe facility. s prevail. Discated seller anegotiated a s

A‐WIDE PLAN

actual markeperties data prth quarter ons are provid

PMENT r the Geneva nvironmentase and, in somay be compometimes difonths or yeauated.

contaminatiothe site’s remonmental Quions, when ihe residual clled “unrestriontaminationor communited with any re

determining tduct the cost t data or a mties with a dIn other worscounting estand a sophistisale price for

et value infoprovided by Rof 2017. A fullded in the App

Road Area‐Wlly contaminome cases, dplicated by mfficult to assears to fully

on may also imediation. Fouality will allnstitutional acontaminatioicted” standan is unrestrity facility useedevelopmen

the discount of the cleanarket for theistinct value rds, when theimated contaicated buyer,the property

ormation thaReis for this st listing of all tpendix.

Wide Planningated (“browdocumented many factorsess accuratelyunderstand

influence theor example, thow contaminand engineern. In this casard (meaning icted), certaes may be rent plans.

to fair markeup from a coe property, coin use to the contaminatamination cos, aware of cony.

t may be cotudy includestransactions

g study, sevenfields”) havenvironmen

s. The cost ty, and often cas the evid

e type of redehe site remednation to remring controls se, where a s that the usein types of estricted. The

et value for pommonly acceontaminated e owner so lted propertysts is not usentamination a

onveyed by s transactionscited in this r

ral propertieve been idenntal investigato investigatecan be an itedence for o

evelopment tdiation regulamain on‐site have been psite may note of the land post‐remed

ese considera

erceived or kepted value oproperties mlong as the oy is in use, ned for determand an estim

2

these s back report

s that ntified ations. e and rative on‐site

that is ations after

put in t have in the iation ations

known of the

may be owner ormal mining ate of

IMAGIN

LOCALThe Genealong theUniversityindustrial industrial stations, a

AccordingCounty incontinue County anbeing buidevelopmhave expeyear and latter half

The availaValley UnGeneva Rlimited. Thighly edbrownfiel

NE OREM: GENE

L CHARACeva Road Aree I‐15 corridy Parkway. Thand manufand manufacand a large el

g to recent adustrial markto remain hind several delt in the nort

ments in souterienced subinto 2018. Exf of 2017.

ability of induniversity and Road Area anThe Geneva Rducated workds to highly p

EVA ROAD AREA

CTERISTIC

ea is an undeor, with muhe area is a zfacturing usecturing compectric power

nalysis compket continuesistorically lowevelopers arethern part of h Utah Counstantial new xpect new ind

ustrially zoneits strong c

n obvious coRoad Area is kforce and sproductive ind

A‐WIDE PLAN

S erdeveloped altiple interchzoned Manufes, including anies are clustransmission

pleted by News to reflect a rw. New, high‐e reported to the county,

nty, such as Mconstructiondustrial devel

ed space, undculture of rempetitive adlocated in a

supportive gdustrial, rese

area betweenhange accessfacturing / Remany lots

stered in thisn substation.

wmark Grubbrobust econo‐quality indube building tespecially in Mountain Vis and will conopment to pu

derdevelopedsearch and sdvantage as la thriving ecoovernment parch and vari

FIGURE 1:THE GENEV

n I‐15 and Geses at 1600 esearch & Dewithout imps area, as are

b ACRES Commy and sustastrial space ito meet demLindon, Amesta Business ntinue to addush vacancy r

d and undervsupport for land for newonomy stronpolicies that ied manufact

GENEVA ROCKVA ROAD AREA

eneva Road N, 800 N, C

evelopment aprovements. vacant lots, a

mmercial Reaained growthis not readilymand. Most nerican Fork aPark in Provd space throurates slightly

valued in an ahi‐tech start

w developmeg on the funcan drive r

uring uses.

K PRODUCTS, IA

with high visCenter Streetarea with primMany of O

automobile se

al Estate, the and vacancyy available inew constructnd Lehi. Howvo’s East Bay ugh the end ohigher towar

area close to‐ups provident becomes ndamentals wredevelopme

INDUSTRIAL U

3

sibility t and marily Orem’s ervice

Utah y rates Utah tion is wever, area, of the rd the

Utah es the more with a ent of

SE IN

IMAGIN

INDUSTIndustrial further dDistributiotype indueither WaHigh‐TechpropertiecharacterShowroomCenters/O

As presen2011‐201followed Manufact

Lindon Cifollowed locations.catalyst si

TABLE 1: I

CityLindonOremProvoPleasant GrAmerican FVineyardTotalSource: Reis

NE OREM: GENE

TRIAL COMproperties in

distinguished on Center, Costrial buildinarehouse/ Dish space. Oths such as loaistics such asm, Light MaOffices, Retail

nted in Table7. The most by Wareho

turing (2), and

ty, which adjclosely by Or The Flex Ofites on Indust

NDUSTRIAL CO

CommerciBuilding

-21

rove -Fork -

-3

s, Inc.

EVA ROAD AREA

MPARABL

nclude multi aas: Flex O

ommercial/Ing developmestribution andher building ding docks, ds non‐medicaanufacturing, Showrooms,

e 1, forty‐fivecommon tranuses (8), Fled Distribution

joins Orem trem (18). Oreffice/R&D comtrial Park Roa

OMPARABLES B

ial CommerciaIndustrial

11711--

20

A‐WIDE PLAN

LES and single tenOffice/R&D, Mndustrial, andent with a mid/or specialtycharacterist

dock‐high dool labs, showrMedical Re

, and Data Sto

e (45) sales tnsaction by pex Office/R&n Center (1).

o the north, em had the lamparables inad.

BY GEOGRAPHY

al- DistributionCenter

1-----1

nant buildingManufacturind Commercianimum total y industrial sptics will be ors, and high ooms, and reesearch Laboorage Centers

ransactions wproperty type&D (7), Light

had the largargest numbe Orem are a

Y (2011‐2017

n Flex Office-R&D

-51--17

Property

s of 10,000 sqng, Warehoul Building. Foffice percenpace; such asconsistent wclear heightsetail. Excludeoratories, Incs.

were recordee were Commt Industrial

gest number er of Flex Offiall located in

7)

Light Industria11-11-4

Type

quare feet oruse, GeneralFlex Office/R&ntage of 25%s Research & with Warehos, with an addd from this ccubator Labo

ed in the seamercial/Indust(4), Comme

of industrial ice/R&D coman area dire

l Manufacturing1-1---2

r more and ml Light Indu&D is a speci% and consistDevelopmenouse/ Distribdition of highcategory are Ooratories, M

arch area bettrial buildingsrcial Building

comparablemparables of aectly adjoinin

Warehouse53--

-8

4

may be ustrial, alized ing of nt and bution h‐tech Office edical

tween s (20), g (3),

s (19) all the ng the

Total19184211

45

IMAGIN

FIGURE 2:

Figure 2 ptransactiohappenin

FIGURE 3:

NE OREM: GENE

INDUSTRIAL C

presents the ons year oveg in 2017.

INDUSTRIAL C

EVA ROAD AREA

COMPARABLES

industrial coer year, with

COMPARABLES

A‐WIDE PLAN

BY GEOGRAPH

mparable trah the larges

BY YEAR (201

HY (2011‐201

ansactions byst number o

11‐2017)

17)

y year, demoof industrial

nstrating a dcomparable

dramatic growtransactions

5

wth in s (16)

IMAGIN

RETAIL Retail rensquare feidentifiedProvo andfoot for nOrem.

TABLE 2: R

OFFICEOffice renof thirty (sites, inclGrove. Re

TABLE 3: O

DescriCurrenCurrenCurrenOperatProperYear BSource

Current Current OperatinPropertyReal EstYear Bui

Source:

NE OREM: GENE

COMPARnt comparableet or more. A in the 5‐miled 1 in Pleasannon‐anchor t

RETAIL RENT C

E COMPAnt comparable(30) such devuding fourteent at these re

OFFICE RENT C

iptionnt Asking Rent/nt Asking Rent/nt Vacancy Rateting Expenses/rty Size (SF)

Builte: Reis, Inc.

Asking Rent/SVacancy Rate

ng Expenses/SFy Size (SF)tate Taxes/SFilt

Reis, Inc.

EVA ROAD AREA

RABLES es include muA total of ninee radius searcnt Grove. Renenants, with

COMPARABLES

ARABLES es include muvelopments wen (14) in Pretail centers v

COMPARABLES

/SF (Anchor)($/SF (Nonanchoe (%)SF ($)

SF ($)(%)F ($)

A‐WIDE PLAN

ulti‐tenant neeteen (19) succh area arounnt at these rethe most ex

SUMMARY ST

ulti and singlewere identifierovo, 6 in Orvaries betwee

SUMMARY ST

$)or)($)

Comparable

Low11.440.02.41

11,350.84

1995

Comparable

eighborhood ch neighborhnd the catalysetail centers xpensive spac

TATISTICS (201

e tenant builded in the 5‐mem, 5 in Amen $11.44 an

TATISTICS (201

Low7.5910.000.01.24

10,6841964

Group Summa

M1925

0 4011

Group Summa

and communhood and comst sites, includvaries betwece being loca

11‐2017)

dings of 15,0mile radius seerican Fork, d $22.83 per

11‐2017)

Mean11.7617.764.53.01

116,2211985

ary Stats

Mean9.3022.55.910,5171.68998

ary Stats

nity shoppingmmunity shopding fourteeneen $10 and ated along U

00 square feeearch area ar3 in Lindon, square foot.

Median12.3917.006.23.36

111,6151986

Median19.042.95.62

32,2601.481998

g centers of 1pping centersn (14) in Orem$27.55 per sUniversity Pkw

et or more. Around the caand 2 in Ple

High16.9527.5526.34.68

350,0002009

High22.83100.010.61

128,8812.682000

6

10,000 s were m, 4 in quare wy. in

A total atalyst easant

IMAGIN

KEY IN

OVERV The secowith locainformatthe Genethe highe The purpobservat A total ofwere inte Participan

Rob Fetze

Kyle Jardi

Brent Skin

Kris Longs

Michael B

Daniel Th

Winthrop

Haley Pec

NE OREM: GENE

NFORMA

VIEW

ond half of thal real estateion and ideneva Area, as est and best

pose of the kions of econ

f 30 intervieerviewed as

nt

er

ine

nner

son

Batt

omas

p Jeanfreau

ck

EVA ROAD AREA

NT INTER

he market ane developersntify economwell as and forms of red

key informannomic develo

ws were comkey informa

Role

President

Project M

Vice Presid

Owner/Pr

Partner

Regional P

Director

Purchaser

A‐WIDE PLAN

RVIEWS

nalysis begas, property omic developmpotential opdevelopmen

nt interviewsopment lead

mpleted fromants for this

and COO

anager

dent

incipal

Partner, Utah

r

n in Januaryowners and iment challenpportunities nt.

s was to learders beyond

m August threport:

Organizati

PEG Devel

PEG Devel

Wasatch D

KLD

Gardner‐B

St. John’s P

UVU BusinResource C

990 N. Gen

y 2018 with Binstitutional nges and oppfor changes

rn from the the City and

hrough Octob

ion

opment

opment

Development

Batt

Properties

ness Center

neva Road

BRS, Inc. wo leaders to gportunities as in the area

experiencesd the Adviso

ber 2015. Th

Interview

January 17

January 17

January 25

January 23

January 31

February 1

February 2

February 2

rking gather as they relat that could s

s and ory Committe

he following

Date

7, 2018

7, 2018

5, 2018

3, 2018

1, 2018

12, 2018

21 ,2018

23, 2018

7

te to spur

ee.

IMAGIN

FINDINPercepBRS first acorridor r

Strength T G T

pe T G P A S T

Weakne It T

to G T T P G

G

NE OREM: GENE

GS tions of Maasked intervieelative to oth

hs here’s a lot o

Geneva Road here are comersonal connhere is a hug

GRA has seenroximity to nccess and prignificant reche corridor h

esses t seems like ihere is a lacko go there.

GRA is not a lohere is a lot here are restProperty price

Geneva Road o Retail o All theo There

that hGRA is compe

EVA ROAD AREA

arket Strenewees how thher parts of th

of potential inis “the front

mpanies thatnections to coge student po a huge influ

new developmroximity to ancent investmehas the infras

it is too diffick of resource

ovely place. of “old produtrictions on aes are inflatehas very limis concentra

e energy and is has been asn’t yet bee

eting with Vin

Stren•Locat•Visib•Infra•Work•Qual•Popu

A‐WIDE PLAN

ngths and hey perceivedhe City and re

n this area. door to Orem

t like to be lounty, or desopulation andux. ment in Vineynd visibility frents on Univestructure nee

cult to develoes to develop

It is not aspiuct” with potaccess to/fromed and not reited appeal fted on Univemomentum a huge down

en built out.neyard (Exam

ngthstion/Accessilitystucturekforceity of Lifeulation Growth

Weaknessd the relative egion.

m” located in Utsire to hire thd that should

yard area, anfrom I-15. ersity Parkwaeded for deve

op [there]. p in Geneva R

irational visuatential contamm Geneva Roeflect true mafor retail: ersity Parkwais on Univern-sizing in th

mple of UVU e

h

Weak•Blight•Conta•Acces•Lack o•Inflate•CompViney

ses market stren

tah County bhe County resd be viewed a

nd increased

ay. elopment in p

Road, and de

ally. It is a semination. oad itself. arket value.

ay and State rsity Parkwayhe retail worl

expansion).

knessestaminationssof resourcesed property prpetition with ard

ngth of the Ge

because of tsidents for a as a resource

visibility bec

place.

evelopers wo

econd choice

Street. y. d Vineyard h

rices

eneva Road

the quality oworkforce.

e.

cause of this.

uld be overp

e area.

has plans for

8

of life,

paying

retail

IMAGIN

OpportThe conscommerccontamin

Opportu T T

w In In U

w In A

re A P M T H

Threats T Pe

Tcu

NE OREM: GENE

unities for ultant team ial and indusation from hi

unities he city’s got here is stron

warehouse disndustrial rentndustrial vacatah County is

warehouse spndustrial landccessing pubedevelopmenttracting comroviding sma

Many firms thhere are comuge student

he nitrogen people will de

o If a tegreenf

o So lonlast on

o the extent urve from a d

EVA ROAD AREA

Redevelothen asked trial developistoric industr

nowhere leftg demand fostribution spats are at an aancies are ats highly entr

paces. d values and blic sources ont projects. mpanies fromall, affordableat come to U

mpanies that population a

plan is still tavelop where

enant has a cfield site first

ng as there’s ne developedOrem can go

development

Opport•Strong dindustri•Industri•Industri•Compet•Large st•Lack of Orem.

A‐WIDE PLAN

pment andintervieweesment in the rial uses in th

t to grow, exor industrial dace. all-time high.t an all-time lepreneurial,

prices are asof funding for

m Point of thee spaces for sUtah County alike to be loc

as potential c

ainting perceit’s easiest t

choice betweet. other develo

d. o out and remt perspective

unitiesdemand for al real estateal vacancies aral rents are higtitive advantagtudent poopuladevelopable la

d Threat o where theyGeneva Roade area threat

xcept to rededevelopment

. low. and there is

stronomical ir brownfield

e Mountain asstart-ups. are from Utacated in Utahclient base.

ption of the o develop firen greenfield

opable land a

mediate ahea.

re lowghgeationand in

Threa•Contamore longe•Compparts •Lack o

of Environmy saw opportd corridor, antened redeve

evelop existint in two key a

also demand

in other partsassessment

s they are be

ah County. h County.

area. rst. d site or brow

available, the

ad of the cur

atsaminated sites expensive andr to developpetition from oof city + regionof shovel‐ready

mental Contunities for nnd how possielopment of t

ng propertiesareas – flex/o

d for light ma

s of the Utahand cleanup

eing priced o

wnfield site, t

e brownfield s

rve, they will

are d takes

other ny sites

ntaminationew market‐bble environmhe area.

. office and

anufacturing

h County. for

out.

they’ll go to t

site will be th

be ahead of

9

on based mental

and

the

he

f the

IMAGIN

Role of Finally, wredevelopcategorie

Policy C D Lo C W

d

Incentiv W

G Th

pre

Site Asse Th

to Id

A Th Th

ar Th

p C Id

NE OREM: GENE

the City ine asked interpment in thes: policy chan

Changes etermine Oreook at Genevhange the zo

Work with UDevelopment n

es Work with theeneva Road Ahere is great roduct. Ratheemediation.

emblage he issue is eco assemble smdentify which ny bank wouhe City needshe City needsre “shovel‐rehe City mightrocess of steereate a frontadentify prima

EVA ROAD AREA

n supportinrviewees aboe Geneva Roanges, incentiv

em’s vision ofa Road as a bning (provideOT to amendneeds but ma

UVU BusinesArea. In returdemand for ter, the City sh

onomics (cosmaller parcelsparcels are eld require a Ps to clean up cs to work withady.” t go out with ering traffic toage road alonary infrastruct

Role of the City

A‐WIDE PLAN

ng Redeveut steps the ad corridor. ves and site as

f what this arbusiness and ied example of access agreeaintains flow o

ss Resource Crn start‐ups wthe industrial hould provide

st of land cleas, assess themeven developaPhase I to procontaminatedh developers

an RFP and ho this area. ng I‐15 ratherture backbon

•Policy C•Incentiv•Site Asse

elopment City (or otherThe suggestissemblage.

ea should beindustrial parf doing PD zoement. Find aon Geneva Ro

Center to put would make a product, so t

e a TIF, RDA, o

anup and landm and clean thable, and theovide financind sites in GRAor property o

ave a develop

r than relying ne will suppor

hangesvesemblage

r public sectoions generall

come. rk area. one) an agreeable coad.”

together a sepromise to sthe City does or some othe

d itself) of lanhem up. en catalogue wg. A. owners on re

per or set of

on Geneva Rrt redevelopm

or entity) couly aligned wi

curb cut prog

econd incubastay in the Citnot need to r mechanism

nd assemblage

which ones h

mediation to

developers g

Road. ment.

uld take to suith three diff

gram that me

tor space in ty of Orem. incentivize th to help facili

e. The City ne

ave Phase I is

ensure that

o through the

10

upport ferent

ets

the

he itate

eeds

ssues.

sites

e

IMAGIN

APPEN

NE OREM: GENE

NDIX A: M

EVA ROAD AREA

MAPS

A‐WIDE PLAN

11

#

#

#

#

#

#

#

#

##

#

#

#

#

##

#

##

#

#

#

#

##

#

##

#

#

#

#

#

#

# #

#

#

#

##

#

#

#

#

Sources: Esri, HERE, Garmin, USGS,Intermap, INCREMENT P, NRCan, EsriJapan, METI, Esri China (Hong Kong), Esri

t

GENEVA ROAD AREA MARKET STUDYPrint Date: 03/19/2018

0 1 2 3 4 50.5 Miles

LegendIndustrial Property Types# Commercial Building# Commercial/Industrial# Distribution Center# Flex Office/R&D

# General Light Industrial# Manufacturing# Warehouse

INDUSTRIAL SALES COMPSSource: Reis, Inc.

CityCommercial

BuildingCommercial-

IndustrialDistribution

Center Flex Office-R&D Light Industrial Manufacturing Warehouse TotalLindon - 11 1 - 1 1 5 1 9Orem 2 7 - 5 1 - 3 1 8Provo 1 1 - 1 - 1 - 4Pleasant Grove - 1 - - 1 - - 2American Fork - - - - 1 - 1Vineyard - - - 1 - - - 1Total 3 2 0 1 7 4 2 8 4 5

Industrial P roperty Sales 2 0 1 0 -2 0 1 8 P ropertyType

#

##

###

##########

###

###

#

##

#####


t


0 1 2 3 4 50.5 Miles

LegendCurrent Asking Rent/SF# $11.44 - $15.24# $15.25 - $19.03# $19.04 - $22.83

OFFICE RENT COMPS

10 MILES

Source: Reis, Inc.

Low Mean Median HighCurrent Asking Rent/SF ($) 11.44 19.30 19.04 22.83Current Vacancy Rate (%) 0.0 22.5 2.9 100.0Operating Expenses/SF ($) 2.41 5.91 5.62 10.61Property Size (SF) 11,350 40,517 32,260 128,881Real Estate Taxes/SF .84 1.68 1.48 2.68Year Built 1995 1998 1998 2000

Comparable Group Summary Stats

##

##

###

## ###

#

##

#

##

#


t


0 1 2 3 4 50.5 Miles

LegendCurrent Asking Rent/SF (Nonanchor)# $0.00 - $11.98# $11.99 - $18.47# $18.48 - $27.70

Description Low Mean Median HighCurrent Asking Rent/SF (Anchor)($) 7.59 11.76 12.39 16.95Current Asking Rent/SF (Nonanchor)($) 10.00 17.76 17.00 27.55Current Vacancy Rate (%) 0.0 4.5 6.2 26.3Operating Expenses/SF ($) 1.24 3.01 3.36 4.68Property Size (SF) 10,684 116,221 111,615 350,000Year Built 1964 1985 1986 2009

Comparable Group Summary Stats

RETAIL RENT COMPS

10 MILES

Source: Reis, Inc.

IMAGIN

APPEN

NE OREM: GENE

NDIX B: S

EVA ROAD AREA

SALES DA

A‐WIDE PLAN

ATA

12

Sales CompsIndustrialPrepared By Reis, Inc.

Metro: Provo-OremCustomerID:659276

Copyright 2018 Reis, Inc. Page 1659276

Section 1 - Subject Property

UT 84057

Search Criteria

Radius 5 miles Sale Date From 03/01/2010 To --

Section 2 - Summary Statistics

22 Reis Verified Sales Transactions* Low Average High** Gross Building Area (SF) 9,269 131,648 254,027

** Net Rentable Area (SF) 29,702 76,373 366,710

** Unspecified Building Area (SF) 784 16,283 55,370

Number of Floors 1 1 2

Year Built 1950 1992 2016

Time Since Sale (months) 4 25 51

Sale Price $2,015,625 $5,222,166 $18,846,742

Sale Price PSF (Gross Area) $238 $238 $238

Sale Price PSF (Rentable Area) $40 $67 $135

Sale Price PSF (Unspecified Area) $1,027 $1,027 $1,027

** The Summary Statistics table excludes 23 public record transactions selected by the user. The public record transactions are, however, plotted onto the map, and included among the record-by-recordsales listings in this report.

*** Square footage is reported as Gross Building Area, and/or Net Rentable Area, or Unspecified Building Area. Each row, in the table above, related to size includes only those buildings in thecorresponding size category. * In the case of a partial sale, the figures shown here include only the area purchased.

23 Public Record Sales Transactions* Low Average HighYear Built 1955 1985 2009

Time Since Sale (months) 1 22 84

Sale Price $313,420 $948,891 $1,714,125

* Public Record Sales Comps are sales transaction records that have been created by county assessors, and have not been verified or enhanced by a Reis analyst. Typically, these records pertain toproperties that are of a structural or use type other than the investment grade commercial real estate asset categories that Reis covers. Property categorization and data quality standards may varysignificantly from county to county.




Section 3 - Comparable Group Locations

Reis Verified Sales are Plotted in Green Public Record Sales are Plotted in Red




Address Distance SubmarketYear

BuiltFloors

Size

(SF)Sale Price

Price

PSFSale Date

1. 496 E 1750 N 2.14 mi. Outside Delineated Areas 2016 2 37,104NRA $3,666,207 $99NRA 30th Oct, 2017Vineyard, UT 84057

2. 750 N 2800 W 4.38 mi. Outside Delineated Areas 1995 1 31,191NRA $2,463,750 $79NRA 29th Jun, 2017Lindon, UT 84042

3. 2562 W 1680 N 4.05 mi. Outside Delineated Areas 1950 1 33,576NRA $3,250,350 $97NRA 8th Jun, 2017Provo, UT 84601

4. 1133 N 1430 W 1.28 mi. Outside Delineated Areas 2006 1 31,056NRA $2,018,750 $65NRA 11th May, 2017Orem, UT 84057

5. 1374 W 200 S 2.54 mi. Outside Delineated Areas 2007 2 29,702NRA $2,015,625 $68NRA 8th May, 2017Lindon, UT 84042

6. 1014-1078 S 1680 2.98 mi. Outside Delineated Areas 2003 1 68,000NRA $8,275,739 $122NRA 31st Jan, 2017Orem, UT 84058

7. 1353 W 130 1.72 mi. Outside Delineated Areas 1978 2 32,182NRA $4,359,375 $135NRA 8th Jan, 2017Orem, UT 84058

8. 143 N 1800 W 3.22 mi. Outside Delineated Areas 2015 2 99,750NRA $3,984,375 $40NRA 11th Oct, 2016Lindon, UT 84042

9. 1206 S 1680 W 3.13 mi. Outside Delineated Areas 1994 2 254,027GBA -- -- 31st May, 2016Orem, UT 84058

10. 1014-1078 S 1680 2.98 mi. Outside Delineated Areas 2003 1 68,000NRA $5,000,000 $74NRA 9th May, 2016Orem, UT 84058

11. 49 S 1550 W 2.89 mi. Outside Delineated Areas 2005 1 9,269GBA $2,207,250 $238GBA 28th Jan, 2016Lindon, UT 84042

12. 1555 N Freedom Blvd 4.73 mi. Outside Delineated Areas 1969 1 42,836NRA $2,550,000 $60NRA 22nd Oct, 2015Provo, UT 84604

13. 737 E 1180 4.48 mi. Outside Delineated Areas 2002 1 9,004 $9,250,000 $1,027 1st May, 2015American Fork, UT 84003

14. 1216 S 1580 W 3.07 mi. Outside Delineated Areas 1993 1 14,000 -- -- 29th Apr, 2015Orem, UT 84058

15. 1460 W 200 2.65 mi. Outside Delineated Areas 1984 1 957 -- -- 15th Apr, 2015Lindon, UT 84042

16. 500 S 500 1.54 mi. Outside Delineated Areas 1991 1 366,710NRA $18,846,742 $51NRA 3rd Mar, 2015Lindon, UT 84042

17. 125 S 1200 1.78 mi. Outside Delineated Areas 1995 1 3,990 -- -- 14th Jan, 2015Lindon, UT 84042

18. 737 N 1200 1.04 mi. Outside Delineated Areas 1975 1 1,394 -- -- 20th Jun, 2014Orem, UT 84057

19. 1184 Industrial Park Rd 1.18 mi. Outside Delineated Areas 1980 1 25,810 -- -- 30th May, 2014Orem, UT 84057

20. 1497 W 40 1.82 mi. Outside Delineated Areas 2001 1 784 -- -- 2nd Dec, 2013Lindon, UT 84042

21. 1170 Industrial Park Dr 1.17 mi. Outside Delineated Areas 1970 1 55,370 -- -- 6th May, 2013R

Orem, UT 84057

22. 492 S 250 3.58 mi. Outside Delineated Areas 1994 1 35,242 -- -- 24th Feb, 2012R

Pleasant Grove, UT 84062

Address Distance Land Use Size Sale Price Sale Date Year Built

23. 1365 W 400 1.35 mi. Commercial/Industrial -- 5th Feb, 2018 1993Orem, UT 84057Public Record Sales Comp




24. 35 N 1400 2.68 mi. Commercial/Industrial $993,750 19th Jan, 2018 1993Lindon, UT 84042Public Record Sales Comp

25. 1434 W 70 2.76 mi. Commercial/Industrial $857,812 15th Sep, 2017 2000Lindon, UT 84042Public Record Sales Comp

26. 1187 N 1200 1.00 mi. Commercial/Industrial -- 5th Sep, 2017 1969Orem, UT 84057Public Record Sales Comp

27. 255 S Geneva Rd 2.05 mi. Commercial/Industrial $1,500,000 27th Jul, 2017 1999Orem, UT 84058Public Record Sales Comp

28. 212 N 1330 1.41 mi. Commercial/Industrial -- 19th Jun, 2017 1975Orem, UT 84057Public Record Sales Comp

29. 1342 W 200 2.54 mi. Commercial/Industrial $1,230,000 16th Jun, 2017 1995Lindon, UT 84042Public Record Sales Comp

30. 1420 W Center St 1.70 mi. Commercial/Industrial $782,812 13th Apr, 2017 1990Orem, UT 84057Public Record Sales Comp

31. 55 S Geneva Rd 2.36 mi. Commercial/Industrial $1,477,500 25th Feb, 2017 1975Lindon, UT 84042Public Record Sales Comp

32. 671 N State St 0.46 mi. Commercial/Industrial $1,192,500 14th Feb, 2017 1955Orem, UT 84057Public Record Sales Comp

33. 430 W State Rd 3.90 mi. Commercial/Industrial $1,391,501 23rd Jan, 2017 1965Pleasant Grove, UT 84062Public Record Sales Comp

34. 1358 W 400 2.05 mi. Commercial/Industrial $1,218,750 8th Dec, 2016 1977Orem, UT 84058Public Record Sales Comp

35. 188 S 1800 3.08 mi. Commercial/Industrial $437,500 21st Sep, 2016 2000Lindon, UT 84042Public Record Sales Comp

36. 133 S 1380 2.60 mi. Commercial/Industrial $1,537,500 7th Sep, 2016 2007Lindon, UT 84042Public Record Sales Comp

37. 1077 W 500 2.95 mi. Commercial/Industrial $500,000 30th Aug, 2016 1978Lindon, UT 84042Public Record Sales Comp

38. 1403 W 820 4.98 mi. Commercial/Industrial $313,420 18th Aug, 2016 1980Provo, UT 84601Public Record Sales Comp

39. 1396 W 200 2.57 mi. Commercial/Industrial $460,820 25th Mar, 2016 1975Lindon, UT 84042Public Record Sales Comp

40. 1060 W 400 2.80 mi. Commercial/Industrial $398,437 11th Mar, 2016 1996Lindon, UT 84042Public Record Sales Comp

41. 909 W 500 2.84 mi. Commercial/Industrial $875,000 25th Feb, 2016 2009Lindon, UT 84042Public Record Sales Comp

42. 1546 W 200 2.78 mi. Commercial/Industrial -- 1st Oct, 2015 1996Lindon, UT 84042Public Record Sales Comp




43. 150 W 1450 N 4.85 mi. Commercial Building 3,618 $618,750 19th Dec, 2012 1980Provo, UT 84604Public Record Sales Comp

44. 450 S 1325 W 2.07 mi. Commercial Building 1,111 $528,750 29th Apr, 2011 1987Orem, UT 84058Public Record Sales Comp

45. 644 N State St 0.50 mi. Commercial Building 4,235 $1,714,125 7th Mar, 2011 1957Orem, UT 84057Public Record Sales Comp




1. 496 E 1750 NVineyard, UT 84057 3704380

Sale Date 30th Oct, 2017

Sale Price $3,666,207 EST (Reis Verified)

Sale Price PSF $99NRA

Property Street View

Location and Physical CharacteristicsCounty Utah

Metro Provo-Orem

Distance 2.14 miles

Property Type Flex Office/R&D

Building Area (SF) 37,104NRA

No. of Buildings / Floors 1 / 2

Year Built / Renovated 2016 / --

Ceiling Height (Ft) 20

Loading Bays 6

Transaction Type Arms Length

Amenities Ceiling Avg,DriveIn Doors

Parking Space/Comments -- / On site parking available.




1. 496 E 1750 N (continued)Vineyard, UT 84057 3704380

Property Sale Details and Analysis




12-Month Rolling Metro Cap Rate N/A

Reported Cap Rate None

Buyer and Seller InformationSeller

1. Name Vineyard Properties of Utah LLC

Address 433 N 1030 W, Lindon, UT 84042

Type/Percent Private - Regional/Local / 100.0%

Buyer

1. Name LMBT Properties LLC

Address 1663 E 1060 N, Lehi, UT 84043


Comments Sales price is undisclosed.

Valuation and TaxesRecent Taxes

Tax Amount $31,405

Tax Year 2017

Assessed Value

Assessed Total Value $2,506,600

Assessed Year 2017

Property Additional Details When AvailableSeller's Broker Buyer's Broker Other Broker Space Allocation Size

Flex Space 37,104 SF NRA

Total 37,104 SF

Financing Details A $2,932,966 loan was provided. Parcel Number 38-424-0007

Deed Reference 113483




2. 750 N 2800 WLindon, UT 84042 3140130

Sale Date 29th Jun, 2017



Vacancy at Sale 0.0% (excludes sublease)



Metro Provo-Orem

Distance 4.38 miles

Property Type Manufacturing




Loading Bays 3


Amenities DriveIn Doors





2. 750 N 2800 W (continued)Lindon, UT 84042 3140130









1. Name Victory Quarry Company LLC

Address 2709 Wilshire Dr, Salt Lake City, UT 84109


Buyer

1. Name Howell Family Holdings LLC





Tax Amount $21,297

Tax Year 2017

Assessed Value


Assessed Year 2017


Manufacturing 31,191 SF NRA

Total 31,191 SF

Tenant SizeThe Blindman of Utah 31,191 SF

Financing Details Rock Canyon Bank provided a $1,971,000 loan. Parcel Number 13-063-0102





3. 2562 W 1680 NProvo, UT 84601 3258904






Metro Provo-Orem

Distance 4.05 miles

Property Type Manufacturing




Comments Property includes a 1-story, 31,119 SF buildingbuilt in 1960 and a 1-story 2,457 SF buildingbuilt in 1950.





3. 2562 W 1680 N (continued)Provo, UT 84601 3258904








1. Name Stephen E Samuelian


Buyer

1. Name ES 177231 LC

Address 124 E 200 N, Lehi, UT 84043




Tax Amount $19,972

Tax Year 2017

Assessed Value


Assessed Year 2017


Eric LarsenColdwell Banker CommercialAdvisors999 18th St, Ste 1350,Denver, CO 80202(801) 947-8300

Manufacturing 31,119 SF NRA

Office 2,457 SF NRA

Total 33,576 SF

Parcel Number 19-046-0116

Deed Reference 58263-2017




4. 1133 N 1430 WOrem, UT 84057 2100603

Sale Date 11th May, 2017





Metro Provo-Orem

Distance 1.28 miles





Loading Docks 5

Loading Bays 5

Amenities Docks,DriveIn Doors





4. 1133 N 1430 W (continued)Orem, UT 84057 2100603







Other Sales

Sale Date 20th Apr, 2007R

Sale Price -- (Reis Verified)



1. Name Proctor Properties LLC

Address 492 W 1200 N, PO Box 887, Springville, UT84663


Buyer

1. Name Baam 1133 LLC

Address 8985 N Silver Lake Dr, Cedar Hills, UT 84062




Tax Amount $26,134

Tax Year 2017

Assessed Value


Assessed Year 2017


Preston DavisNewmark Knight Grubb Frank376 E 400 S, Ste 120, SaltLake City, UT 84111(801) 234-6808


Total 31,056 SF

Financing Details Standard Insurance Company provided a 25 year$1,615,000 loan.






5. 1374 W 200 SLindon, UT 84042 1783694






Metro Provo-Orem

Distance 2.54 miles

Property Type Warehouse





Loading Docks 2

Loading Bays 2

Amenities Ceiling Avg,Docks,DriveIn Doors

Comments Reinforced Concrete





5. 1374 W 200 S (continued)Lindon, UT 84042 1783694








1. Name 1374 Holdings LLC

Address 352 S 1850 E Springville, UT 84663


Buyer

1. Name Jessup D Holden & Adele K Trust

Address 733 Northampton Dr, Palo Alto, CA 94303


Comments Sales price undisclosed.


Tax Amount $15,559

Tax Year 2017

Appraised Value

Appraised Total Value $1,743,200

Appraised Year 2017

Assessed Value


Assessed Land Value $270,500

Assessed Year 2016


Warehouse/Storage Space 29,702 SF NRA

Total 29,702 SF

Financing Details Wells Fargo Bank NA provided a $1,612,500loan.






6. 1014-1078 S 1680Orem, UT 84058 1268705

Sale Date 31st Jan, 2017





Metro Provo-Orem

Distance 2.98 miles





Loading Bays 20

Transaction Type Transfer to affiliated entities


Comments Property includes a 1-story, 12,000 SF buildingbuilt in 2003, a 1-story 14,000 SF building builtin 2003, a 1-story, 16,000 SF building built in2003, a 1-story 14,000 SF building built in 2003and a 1-story, 12,000 SF building built in 2003.





6. 1014-1078 S 1680 (continued)Orem, UT 84058 1268705







Other Sales





1. Name Boggess-Draper Co LLC

Address 44 Red Pine Dr, Alpine, UT 84004


2. Name Frontage 114th LLC

Type/Percent Private - Regional/Local / --

Buyer

1. Name Wolverine Business Park LLC





Tax Amount $42,180

Tax Year 2016

Assessed Value


Assessed Year 2016



Total 68,000 SF

Tenant SizeCar Smart -- SF

Haloprime -- SF

Screenplay -- SF

Financing Details Woodmen of the World Life Insurance Societyprovided a $6,620,591 loan.

Parcel Numbers 55-567-0009,55-567-0012,55-567-0014,55-567-0013,55-567-0011,55-567-0006,55-567-0010,55-567-0008

Deed Reference 9822




7. 1353 W 130Orem, UT 84058 1261411

Sale Date 8th Jan, 2017






Metro Provo-Orem

Distance 1.72 miles









7. 1353 W 130 (continued)Orem, UT 84058 1261411









1. Name The Ninigret Goup LLC

Contact Phone (801) 973-9090

Address 1700 S 4650 W, Salt Lake City, UT 84104

Type/Percent Private - National/Funds / 100.0%

2. Name ND-CS LC

Type/Percent Private - National/Funds / --

Buyer

1. Name Satellitare LLC

Address 3180 Del Mar Dr, Salt Lake City, UT 84109




Tax Amount $33,883

Tax Year 2016

Assessed Value


Assessed Year 2016



Total 32,182 SF

Tenant SizeClear Satellite 32,182 SF


Parcel Numbers 46-414-0004,48-052-0002

Deed Reference 4064




8. 143 N 1800 WLindon, UT 84042 1213214






Metro Provo-Orem

Distance 3.22 miles









8. 143 N 1800 W (continued)Lindon, UT 84042 1213214








1. Name Timp Partners LLC



Buyer

1. Name KA Eono LLC

Address 20 600 W, Lindon, UT 84042




Tax Amount $8,804

Tax Year 2016

Assessed Value

Assessed Total Value $813,700

Assessed Year 2016



Total 99,750 SF







9. 1206 S 1680 WOrem, UT 84058 1154249

Sale Date 31st May, 2016

Sale Price -- EST (Reis Verified)




Metro Provo-Orem

Distance 3.13 miles


Building Area (SF) 254,027GBA







9. 1206 S 1680 W (continued)Orem, UT 84058 1154249



Sale Price -- EST (Reis Verified)





1. Name Blendtec Inc

Address 1206 S 1680 W, Orem, UT 84058


Buyer

1. Name Wasatch Bt Holdings LLC

Address 299 Main St S, Ste 2400, Salt Lake City, UT84111


2. Name Dickson Properties LLC




Tax Amount $156,205

Tax Year 2016

Appraised Value


Appraised Year 2016

Assessed Value


Assessed Year 2016


Flex Space 254,027 SF GBA

Total 254,027 SF

Tenant SizeBlendTec 254,027 SF






10. 1014-1078 S 1680Orem, UT 84058 1144909






Metro Provo-Orem

Distance 2.98 miles





Loading Bays 20

Transaction Type Transfer to affiliated entities


Comments Property includes a 1-story, 12,000 SF buildingbuilt in 2003, a 1-story 14,000 SF building builtin 2003, a 1-story, 16,000 SF building built in2003, a 1-story 14,000 SF building built in 2003and a 1-story, 12,000 SF building built in 2003.





10. 1014-1078 S 1680 (continued)Orem, UT 84058 1144909







Other Sales





1. Name Winchester Business Park LC



Buyer

1. Name Boggess-Draper Co LLC



2. Name Frontage 114th LLC




Tax Amount $42,180

Tax Year 2016

Assessed Value


Assessed Year 2016



Total 68,000 SF

Tenant SizeCar Smart -- SF

Haloprime -- SF

Screenplay -- SF

Financing Details Brighton Bank provided a $4,000,000 loan. Parcel Numbers 55-567-0009,55-567-0012,55-567-0014,55-567-0013,55-567-0011,55-567-0006,55-567-0010,55-567-0008





11. 49 S 1550 WLindon, UT 84042 1100278



Sale Price PSF $238GBA



Metro Provo-Orem

Distance 2.89 miles


Use Type Warehouse

Building Area (SF) 9,269GBA







11. 49 S 1550 W (continued)Lindon, UT 84042 1100278




Sale Price PSF $238GBA




1. Name Stephen M Harrison

Address 802 N 700 W, American Fork, UT 84003


Buyer

1. Name MA Mcallister Investments LLC

Address 624 W 330 S, American Fork, UT 84003




Tax Amount $20,027

Tax Year 2016

Appraised Value


Appraised Year 2015

Assessed Value


Assessed Land Value $1,061,000

Assessed Year 2016


Warehouse/Storage Space 9,269 SF GBA

Total 9,269 SF

Tenant SizeRoyal Wholesale Electrical 9,269 SF

Financing Details Bank of American Fork provided a $1,765,800loan.

Other Comments Property has an appraised value of $1,755,200as of 2015.


Deed Reference 8162




12. 1555 N Freedom BlvdProvo, UT 84604 1042202

Sale Date 22nd Oct, 2015






Metro Provo-Orem

Distance 4.73 miles









12. 1555 N Freedom Blvd (continued)Provo, UT 84604 1042202


Sale Date 22nd Oct, 2015







1. Name Pulitzer Newspapers Inc


Address 900 N Tucker Blvd, St Louis, MO 63101

Type/Percent Other / 100.0%

Buyer

1. Name Kew Consulting LLC

Address 3162 Canyon Rd, Springville, UT 84663




Tax Amount $38,109

Tax Year 2015

Appraised Value


Appraised Year 2015



Total 42,836 SF

Tenant SizeThe Daily Herald 42,836 SF


Parcel Numbers 19-068-0010,19-068-0030,19-068-0028,19-068-0029





13. 737 E 1180American Fork, UT 84003 664847


Sale Price $9,250,000 (Reis Verified)

Sale Price PSF $1,027



Metro Provo-Orem

Distance 4.48 miles

Property Type General Light Industrial

Use Type Light Industrial

Building Area (SF) 9,004





13. 737 E 1180 (continued)American Fork, UT 84003 664847




Sale Price PSF $1,027




1. Name Tropical Dev LLC

Buyer

1. Name Af 727 East LLC

Address 299 Main St, Salt Lake City, UT 84111


Tax Amount $129,625

Tax Year 2016

Assessed Value



Assessed Year 2016


General Light Industrial 9,004 SF

Total 9,004 SF

Financing Details Bokf Na provided a $7,400,000 loan. Parcel Number 130630026





14. 1216 S 1580 WOrem, UT 84058 665542

Sale Date 29th Apr, 2015



Metro Provo-Orem

Distance 3.07 miles






Loading Bays 6

Parking Space/Comments -- / Parking on site.






1. Name Net W Investments LLC


Buyer

1. Name Jc4 Partners LLC

Address 1216 1580, Orem, UT 84058


Comments Sale price undisclosed.


Tax Amount $9,808

Tax Year 2016

Assessed Value



Assessed Year 2016


Warehouse/Storage Space -- SF

Office -- SF

Total 14,000 SF

Tenant SizeLife Science Publishing -- SF

Financing Details Wells Fargo Bank Na provided a $862,000 loan.

Other Comments Property was assessed in 2015 at $817,500.

Parcel Number 481280002





15. 1460 W 200Lindon, UT 84042 663028

Sale Date 15th Apr, 2015



Metro Provo-Orem

Distance 2.65 miles



Building Area (SF) 957







1. Name Rocky Mtn Recycling Holdings L

Buyer

1. Name Bruce C Black

Address 1361 900 , Pleasant Grove, UT 84062

2. Name Monica R Black


Tax Amount $7,336

Tax Year 2016

Assessed Value



Assessed Year 2016


General Light Industrial 957 SF

Total 957 SF

Financing Details Wells Fargo Bk Na provided a $605,000 loan. Parcel Number 140620015





16. Vivint Industrial Bldg500 S 500

Lindon, UT 84042 646454

Sale Date 3rd Mar, 2015






Metro Provo-Orem

Distance 1.54 miles

Property Type Distribution Center







16. Vivint Industrial Bldg (continued)500 S 500

Lindon, UT 84042 646454


Sale Date 3rd Mar, 2015







1. Name STAG Industrial

Address 1 Federal St, Ste 23, Boston, MA 02110

Type/Percent REITs/REOCs / --

2. Name STAG II Lindon LLC

Type/Percent REITs/REOCs / --

Buyer

1. Name Lindon 1600 East LLC

Address 299 Main St, Salt Lake City, UT 84111



Tax Amount $205,748

Tax Year 2016

Assessed Value



Assessed Year 2016


Warehouse/Distribution 366,710 SF NRA

Total 366,710 SF

Financing Details Bank of Arizona provided a $15,077,394 loan. Parcel Number 170150141





17. 125 S 1200Lindon, UT 84042 631366




Metro Provo-Orem

Distance 1.78 miles


Use Type Warehouse








1. Name Brady Investments Lc

Buyer

1. Name Peczuh Property LLC

Address 355 100 , Price, UT 84501


Tax Amount $18,181

Tax Year 2016

Assessed Value



Assessed Year 2016


Warehouse/Storage Space 3,990 SF

Total 3,990 SF

Financing Details Jp Morgan Chase Bk Na provided a $1,054,500loan.


Deed Reference 3372




18. 737 N 1200Orem, UT 84057 564820




Metro Provo-Orem

Distance 1.04 miles


Use Type Warehouse








1. Name Giessing Aage B

Buyer

1. Name Walker Monument & Vault LLC

Address 737 1200 , Orem, UT 84057


Tax Amount $3,439

Tax Year 2016

Assessed Value



Assessed Year 2016


Warehouse/Storage Space 1,394 SF

Total 1,394 SF

Financing Details Central Bk provided a $386,500 loan. Parcel Number 170310028





19. 1184 Industrial Park RdOrem, UT 84057 558235





Metro Provo-Orem

Distance 1.18 miles








19. 1184 Industrial Park Rd (continued)Orem, UT 84057 558235







1. Name C & S Properties Lc

Buyer

1. Name Wms Properties LLC

Address 312 700 , Pleasant Grove, UT 84062


Tax Amount $13,821

Tax Year 2016

Assessed Value



Assessed Year 2016



Total 25,810 SF

Financing Details First Capital Commercial provided a $949,000loan.






20. 1497 W 40Lindon, UT 84042 499798

Sale Date 2nd Dec, 2013




Metro Provo-Orem

Distance 1.82 miles


Use Type Warehouse

Building Area (SF) 784





20. 1497 W 40 (continued)Lindon, UT 84042 499798


Sale Date 2nd Dec, 2013





1. Name Clark Tracy L

Buyer

1. Name Riverside Investment Family Lp

Address 223 1230 , Provo, UT 84604


Tax Amount $13,731

Tax Year 2016

Assessed Value



Assessed Year 2016


Warehouse/Storage Space 784 SF

Total 784 SF

Financing Details Bank of Ut provided a $1,095,000 loan. Parcel Number 453010002





21. 1170 Industrial Park DrOrem, UT 84057 434693

Sale Date 6th May, 2013R




Metro Provo-Orem

Distance 1.17 miles





Parking Space/Comments -- / On site parking.




21. 1170 Industrial Park Dr (continued)Orem, UT 84057 434693


Sale Date 6th May, 2013R





1. Name Zions First National Bank


Address 1 S Main, Ste 1380, Salt Lake City, UT 84111

Type/Percent Institutional / 100.0%

Buyer

1. Name Gregory L & Kathleen R Wilson

Address 1330 W 400 N, Orem, UT 84057


Comments Sale price was undisclosed;


Flex Space 55,370 SF

Total 55,370 SF

Financing Details Zions First National Bank provided a $1,957,000loan.

Other Comments Property assessed at $1,822,300 in 2013.






22. 492 S 250Pleasant Grove, UT 84062 515543

Sale Date 24th Feb, 2012R



Metro Provo-Orem

Distance 3.58 miles





Parking Space/Comments -- / On site parking.






1. Name US Small Business Administration

Type/Percent Other / 100.0%

Buyer

1. Name Pro Fab Investments LLC

Address 135 N 100 E, American Fork, UT 84003


Comments Sale price was undisclosed.


Tax Amount $30,792

Tax Year 2016

Assessed Value



Assessed Year 2016



Office 1,456 SF

Total 35,242 SF

Other Comments Property assessed at $2,400,000 in 2013. Parcel Number 140510172





23. 1365 W 400Orem, UT 84057 3776411

Sale Date 5th Feb, 2018

Sale Price -- EST


Metro Provo-Orem

Distance 1.35 miles

Use Type Commercial/Industrial




1. Name Greenfield Investments LLC

Buyer

1. Name Blue Chip Investments LLC

Address 41 Woodcox Cir W, Lehi, UT 84043


Total -- SF

Parcel Numbers 18-009-0120,18-009-0126


Public Record Sales Comps are sales transaction records that have been created by county assessors, and have not been verified or enhanced by a Reis analyst. Typically,these records pertain to properties that are of a structural or use type other than the investment grade commercial real estate asset categories that Reis covers. Propertycategorization and data quality standards may vary significantly from county to county.




24. 35 N 1400Lindon, UT 84042 3766478


Sale Price $993,750 EST


Metro Provo-Orem

Distance 2.68 miles





1. Name Monterey Vista Village Shoppin

Buyer

1. Name William G Maingot

Address 6630 Loomis St, Lakewood, CA 90713

2. Name Bonnie R Maingot

Address 6630 Loomis St, Lakewood, CA 90713


Total -- SF

Financing Details Mountain America Federal Credit Union provideda $795,000 loan.

Parcel Numbers 42-042-0002,42-042-0001

Deed Reference 6333





25. 1434 W 70Lindon, UT 84042 3668579

Sale Date 15th Sep, 2017

Sale Price $857,812 EST


Metro Provo-Orem

Distance 2.76 miles





1. Name Connies Girls Trust

Buyer

1. Name Tdh Holdings LLC

Address 1984 Rustic Dr E, St George, UT 84790


Tax Amount $9,252

Tax Year 2016

Assessed Value



Assessed Year 2016


Total -- SF

Financing Details Utah CommunityFcu provided a 10 - year$686,250 loan.







26. 1187 N 1200Orem, UT 84057 3654460

Sale Date 5th Sep, 2017

Sale Price -- EST


Metro Provo-Orem

Distance 1.00 miles





1. Name 12x12nw LLC

Buyer

1. Name Miller 1200 LLC

Add

Documents

New GENEVA ROAD AREA-WIDE PLAN · 2020. 6. 1. · rtain condit ublic from t to the so‐ca onmental co residential o and include ethodology d imply to ded ce of market pose propert