Cushman & Wakefield Represents Landlord Hines in 10 Leases Totaling 170,000 SF in Salt Lake City

Rhea-AI Summary

Cushman & Wakefield (NYSE: CWK) represented Hines Global Income Trust in 10 tenant signings, totaling approximately 170,000 SF at the Cottonwood Corporate Center in Salt Lake City since March 2020. This Class A office campus spans 490,030 square feet and has attracted various tenants from industry sectors such as finance and pharmaceuticals. Cushman & Wakefield highlights the location's desirability, proximity to freeways, and on-site amenities, indicating potential for future tenant activity. The project is LEED certified and ENERGY STAR rated, enhancing its market appeal.

Positive

• Secured 10 tenant signings totaling approximately 170,000 SF.
• Located in a desirable area with convenient freeway access.
• The Cottonwood Corporate Center offers various on-site amenities, including a fitness center and new conference center.

Negative

• None.

Cushman & Wakefield (NYSE: CWK) has represented Hines Global Income Trust, Inc., a fund sponsored by Hines, in 10 tenant signings totaling approximately 170,000 SF at the Cottonwood Corporate Center in Salt Lake City since March 2020. The Cottonwood Corporate Center is a 490,030-square-foot Class A midrise suburban office campus.

Cushman & Wakefield’s Dana Baird, CCIM, executive managing director, Mike Richmond, executive managing director and Amanda Lawson, director represented Hines in each of the 10 transactions. The campus’s tenant activity over the last year has consisted of new, expansion and renewal lease transactions across a variety of industries, including professional, financial, legal, pharmaceutical, engineering/design and real estate headquarters.

Baird said, “We are thrilled to be able to announce this recent robust activity at this exceptional project, and with so many high-quality tenants across a broad spectrum of uses. Salt Lake City remains a desirable location and we believe this to be indicative of more future activity at the project and throughout the region.”

Richmond added, “In addition to a superior location convenient to several freeways and numerous off-site amenities for employees and guests, Cottonwood Corporate Center also offers tenants an assortment of on-site amenities including a fully-equipped fitness center as well as a new conference center, and an outdoor patio and tenant lounge are also in process of being built that we think will excite tenants.”

“This momentum is a reflection of companies who are working to reintroduce the importance of company culture and the need for collaboration by returning to office,” said Dusty Harris, senior managing director at Hines. “We are excited to welcome tenants back to Cottonwood Corporate Center smartly and safely when they are ready.”

Cottonwood Corporate Center is located in the Cottonwood suburb at the foot of the Wasatch Mountains, and overlooks most of the Salt Lake Valley. The location also provides access to Interstates 215, 15 and 80 and other freeways, and is 20 minutes from downtown Salt Lake City, Park City and the Salt Lake City International Airport. The project is LEED certified and has an ENERGY STAR rating.

About Cushman & Wakefield

Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 50,000 employees in over 400 offices and 60 countries. In 2020, the firm had revenue of $7.8 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.

About Hines

Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 240 cities in 27 countries. Hines oversees a portfolio of assets under management valued at approximately $160.9 billion¹, including $81.7 billion in assets under management for which Hines serves as investment manager, and $79.2 billion representing more than 172.9 million square feet of assets for which Hines provides third-party property-level services. Historically, Hines has developed, redeveloped or acquired approximately 1,450 properties, totaling over 485 million square feet. The firm has more than 180 developments currently underway around the world. With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to ESG, Hines is one of the largest and most-respected real estate organizations in the world. Visit www.hines.com for more information.

¹Includes both the global Hines organization as well as RIA AUM as of December 31, 2020.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210729006006/en/

FAQ

What recent transactions has Cushman & Wakefield (CWK) completed for Hines Global Income Trust?

Cushman & Wakefield has completed 10 tenant signings totaling approximately 170,000 SF at the Cottonwood Corporate Center since March 2020.

How large is the Cottonwood Corporate Center?

The Cottonwood Corporate Center spans 490,030 square feet and is classified as a Class A midrise suburban office campus.

What types of industries are represented among the tenants at the Cottonwood Corporate Center?

Tenants at the Cottonwood Corporate Center include companies from professional, financial, legal, pharmaceutical, engineering/design, and real estate sectors.

What amenities does the Cottonwood Corporate Center offer its tenants?

The Cottonwood Corporate Center offers various amenities, including a fitness center, conference center, and plans for an outdoor patio and tenant lounge.

What certifications does the Cottonwood Corporate Center hold?

The Cottonwood Corporate Center is LEED certified and holds an ENERGY STAR rating.