FOREST SERVICE BUILDING 599 PRICE RIVER DR PRICE UT, UT 84501 Chet Barber Managing Director 801.783.2064 chet.barber@svn.com Tia Shim, Esq. Director Of Operations 801.508.2881 tia.shim@svn.com Paden Anderson 801.721.8202 paden@mountainluxury.com SVN ALTA COMMERCIAL 165 S. MAIN STREET, SUITE 250, SALT LAKE CITY, UT 84111 SALE BROCHURE
Property Summary OFFERING SUMMARY Sale Price: $2,998,000 Cap Rate: 6.85% NOI: $205,318 Lot Size: 1.18 Acres Year Built: 1980 Building Size: 15,150 SF Zoning: Office Market: Price, Utah Price / SF: $197.89 PROPERTY OVERVIEW SVN ALTA COMMERCIAL is proud to present this office building in Price, UT with two government tenants. The primary tenant, US Forest Service, which occupies over 12,000 SF of the building has been a tenant since the building was constructed in 1980. With the location effectively suiting the function and purpose of this governmental organization, and with 6 years and 12 years left on the primary leases, the rents will be stable for the foreseeable future. The current owner has taken recent steps to minimize management costs for the asset, including making capital expenditures on a new membrane roof (in 2016), enlarged and newly paved parking, including a new retaining wall and a new motorized access gate system with accompanying keypads. A new explosion proof coating has been added to the windows as well as upgrading some of the heating and mechanical systems being replaced. PROPERTY HIGHLIGHTS US Forest Service - Primary Tenant: Great long term Forest Service Field Office Tenant. NRCS - Co-Tenant Natural Resources Conservation Service 15 Year Primary Lease: Expires January 31, 2030 (Firm through January 2021). 10 Year Primary Lease: Expires October 31, 2024 (Firm through October 2019). All brick construction. Building very well maintained. FOREST SERVICE BUILDING 599 PRICE RIVER DR PRICE UT, UT 84501 SVN Alta Commercial Page 2
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Retailer Map FOREST SERVICE BUILDING 599 PRICE RIVER DR PRICE UT, UT 84501 SVN Alta Commercial Page 4
Demographics Map POPULATION 1 MILE 5 MILES 10 MILES 1,456 13,282 17,320 Median age 33.9 32.5 32.9 Median age (Male) 32.4 31.2 32.0 Median age (Female) 36.8 34.8 34.7 1 MILE 5 MILES 10 MILES 566 5,024 6,484 # of persons per HH 2.6 2.6 2.7 Average HH income $44,041 $44,719 $48,340 Average house value $101,462 $102,285 $106,402 Total population HOUSEHOLDS & INCOME Total households * Demographic data derived from 2010 US Census FOREST SERVICE BUILDING 599 PRICE RIVER DR PRICE UT, UT 84501 SVN Alta Commercial Page 5
All Advisor Bios Chet Barber Managing Director SVN Alta Commercial Phone: 801.783.2064 Cell: 801.628.9178 Email: chet.barber@svn.com 165 S. Main Street, Suite 250 Salt Lake City, UT 84111 Chet Barber is the Managing Director of SVN ALTA COMMERCIAL. He leads with resolute ideals, dedication and drive for excellence in the individual and collective performance of his team of advisors with the ultimate goal of financial betterment of his clients. Chet exemplifies the Core Covenants, written and established by SVN, and has successfully formed a team wherein each member prides him or herself on providing the highest degree of service that goes beyond the traditional commercial real estate services. Such services include financial analyses, real estate valuation, lease and document review, client advisory, due diligence assistance and cutting-edge marketing technologies and techniques. Since the year 2000, Chet has been personally involved in more than $700 million of commercial real estate investment and development transactions. Chet s specialty is in the disposition and acquisition of commercial real estate assets. Clients have come to expect informed, market-wise opinions from this veteran of the industry. They know that Chet will provide proactive planning, creative deal making and personalized attention, taking a project from start to closing and beyond. Throughout every detail, process and action involved in a commercial real estate transaction, Chet obtains the highest and best value for his clients. Notable Clients Include: NUCOR, Boyer Company, Waste Management, Transfield Services Ltd., The FDIC,Of COMCAST Cable, US Marshall, Harrison Properties, Director Operations Freeport West, Industry Capital, Dish Network, Hapag Investments SVN Alta Commercial Tia Shim, Esq. Phone: 801.508.2881 Cell: 385.549.1925 Email: tia.shim@svn.com 165 S. Main Street, Suite 250 Salt Lake City, UT 84111 Some Recent Transactions Include: Tia serves as Notable SVN Alta Commercial s Director of Operations and is an attorney licensed in New York, Utah and District of Columbia. Working alongside its Managing The acquisition of ateam 250,000 square Tia footisindustrial in Albuquerque, New Mexico. Chetby represented both the Buyer, Harrison Properties, and thewhile Seller, Industry Director and other members, dedicatedpark to building and growing SVN Alta providing its clients with an exceptional experience, facilitating Capital. Both parties are privately held national real estate investment companiesand headquartered in Phoenix SanSVN Francisco, respectively. intracompany understanding, ensuring compliance with SVN's Core Covenants protecting the integrityand of the System. She is a firm believer in the tenets of The disposition of FDIC portfolios of multiple real estate and asset types. Chet provided brokerage service, representing and was involved asset operating in a corporate culture of respect, integrity, honorassets and collaboration - which reflects the core values of the SVN Alta team the andfdic its clients. Tia strives to in achieve valuation. classes life included office investment, multi-family ground retail investments. excellence,real bothestate in herasset professional and personal life and thisindustrial passion investment, and commitment is shared by alland those around her at SVN Alta. The disposition of 1,000 acres of industrial and mixed use development land. Chet represented PRI, an institutional investment and real estate holdings company, and Ninigret, an industrial development company. He also playedwhich an instrumental role in advising city and countylaws. leaders in the zoningshe andprovided land use services for the development. Prior to joining SVNAC, Tia was involved in private practice focused primarily on federal immigration In her practice, to multinational and U.S. companies and executives, as well as to individuals and families. In addition to her role as SVNAC's Director of Operations, she serves as an Attorney Of Counsel to a number of local law firms. Tia is a member of the New York State Bar Association, District of Columbia Bar, Utah State Bar, American Bar Association, Utah State Bar's Property Law Section and American Immigration Lawyers Association (AILA). Formerly she served as AILA's co-liaison to U.S. Customs and Immigration Service (USCIS) in Salt Lake City. Originally from New York City, she received her Bachelor of Arts from Columbia University and her Juris Doctorate from New York Law School. She is currently licensed as a Real Estate Broker in New York and as a Real Estate Sales Associate in Utah. Paden Anderson Mountain Luxury Home Driven, innovative and entrepreneurial, Paden Anderson was raised in the construction and development industry where he excelled in working with builders. Paden s extensive framing experience now provides strategic insights into the concerns, hopes, and challenges of the new homebuyer. A Utah native, Paden is familiar with local housing markets, cultural demands, and outdoor lifestyles inherent within the beehive state. Drawn to adventure, Paden spends downtime riding dirt bikes, snowmobiles, camping, and traveling. Phone: 801.721.8202 Cell: Email: paden@mountainluxury.com 2640 N Highway 162 Unit 3 Eden, UT 84310 FOREST SERVICE BUILDING 599 PRICE RIVER DR PRICE UT, UT 84501 SVN Alta Commercial Page 6