1018 Atherton Dr
Salt Lake City, UT 84123
Office Property For Sale

The building has recently undergone extensive interior renovations and demonstrates the owner’s commitment to the location. 1018 Atherton Drive is strategically placed in the middle of the Salt Lake Valley on 4500 S, which has a daily traffic count in excess of 30,000 vehicles per day and has immediate access to both the I-15 and I-215 freeways, and is less than 20 minutes from Salt Lake City International Airport. The population within three miles is 135,856 and the daytime employee count is 89,533. Nearby amenities include golf courses Meadow Brook and Fore Lakes, Salt Lake Community College, Vista and Valley Regional Parks, Atherton Storage, Costco, Fresh Market, Walgreens, The UPS Store, and more than 20 restaurants and convenience stores. Nearby major office tenants are ICU Medical, ALS Environmental, 3M, Best Buy Corporate, and Sorenson Communications. Top local employers include Intermountain Healthcare, O.C. Tanner, the University of Utah, and Barrett Business. Continued diversification of Salt Lake City’s tenant base has sustained a span of stout absorption, garnering the attention of more out-of-state buyers seeking yields that exceed those found in their home markets. An expanding investor pool has heated competition for available properties, translating to a nearly 30 percent rise in deal flow over the past 12 months ending in March. Buyers based outside Utah have been most active in Draper, Sandy South Towne and Salt Lake City’s CBD. Entering the third quarter, the Wasatch Front is home to one of the lowest vacancy rates in the nation, with space availability at or near cyclically low levels in all major submarkets. Small and mid-size Class B properties throughout the Wasatch Front are coveted by investors as asking rents at these buildings have climbed at an above-average pace spanning the past 24 months. In the CBD and Central Valley East submarkets, initial returns for these properties can reach the high-5 to mid-6 percent range yet yields in the 7 percent and 8 percent bands are readily available here and in Orem/Provo.