$19.5M financing secured for office/R&D building in Salt Lake City

NEWPORT BEACH, Calif., Dec. 9, 2021 -JLL Capital Markets announced today that it has arranged $19.5 million in financing for the acquisition of International Plaza, a multi-tenant office and R&D building totaling 134,801 square feet in Salt Lake City, Utah.

JLL worked on behalf of the borrower, a joint venture between George Urban Properties and Long Wharf Capital, to secure the three-year bridge loan through Thorofare Capital.

International Plaza is located at 5416 W. Amelia Earhart Dr. about 10 minutes west of downtown Salt Lake City. The 10.83-acre campus is positioned in the heart of Salt Lake's Northwest Quadrant, which is home to some of the largest economic development projects in the state. In addition, International Plaza has exceptional connectivity being located close to Interstate 80 and the Salt Lake International Airport.

Recently renovated in 2020, International Plaza consists of a one and two-story 134,801-square-foot building. Overall, the campus is 85% leased to a diverse investment-grade tenant roster.

The JLL Capital Markets team representing the seller was led by Senior Managing Director Greg Brown and Managing Director Mark Root.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients - whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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