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Freedom Commons 145 W 200 N 143,247 SF 4-Star Office Building Provo, UT 84601 For Sale
Investment Highlights
- Class A Asset with Strong Tenant Base and WALT
- High-Growth Market with Limited New Office Supply
- Prime Downtown Provo Location with Exceptional Connectivity
Executive Summary
Originally constructed in 2022 on a 2.83-acre site, Freedom Commons is 68% leased and features an impressive 5.27 years of WALT. The Seller and anchor tenant, PEG Companies, Inc. (31,354 sf) plans to vacate upon its lease expiration on 7/31/2027. The seller is currently in the LOI process for a backfill tenant at an increased rate, providing immediate upside to the next owner. See OM for more details.
Freedom Commons is well-positioned to attract the next wave of office tenants as it represents a best-in-class office asset. The Property stands out due to its strong financial performance, Class-A finish level and amenities, and its convenient location in the heart of Downtown Provo.
Property Facts
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
- Banzai
- Educational Services
- -
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$9.99
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Lorem Ipsum
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Jan 0000
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- Finance and Insurance
- -
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$9.99
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Lorem Ipsum
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Jan 0000
Founded in 2003 and headquartered in Provo, Utah, PEG Companies is a vertically integrated real estate investment firm specializing in opportunistic and value-add strategies across the United States and Canada. Initially recognized for its creative development projects, PEG has evolved into a full-service platform encompassing investment, development, construction, asset management, property management, and hospitality operations. The firm is privately held and partners with institutions, family offices, and individual investors to execute transformative real estate strategies. PEG’s investment philosophy centers on deep local market expertise and disciplined asset selection, with a focus on regions poised for long-term outperformance. Its portfolio spans multifamily residential, single-family rental communities, student housing, office, mixed-use, and hospitality assets. The company actively manages its holdings through development, repositioning, and operational optimization, leveraging its vertically integrated structure for end-to-end execution. PEG’s asset class focus includes residential (multifamily and build-for-rent), hospitality (select-service and extended stay), and mixed-use commercial properties. The firm maintains a strong presence in 27 U.S. states and two Canadian provinces, with notable exposure in Utah, Texas, and California.
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- Health Care and Social Assistance
- -
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$9.99
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Lorem Ipsum
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Jan 0000
Serenity Mental Health Centers was founded in 2017 in response to the growing need for more effective mental health treatment, and the business began with a single clinic in Utah. The company provides psychiatric care through a network of clinics and focuses on services such as Transcranial Magnetic Stimulation, ketamine therapy, medication management, and treatment for conditions including depression, anxiety, PTSD, OCD, ADHD, and bipolar disorder. Serenity Mental Health Centers presents its care model around personalized treatment plans and board-certified psychiatric support, with an expanded presence across multiple U.S. regions while continuing to grow from its Utah roots.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| Banzai | Educational Services | - | $9.99 | Lorem Ipsum | Jan 0000 | |
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Finance and Insurance | - | $9.99 | Lorem Ipsum | Jan 0000 | |
|
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Health Care and Social Assistance | - | $9.99 | Lorem Ipsum | Jan 0000 |
Space Availability
- Space
- Size
- Space Use
- Build-Out
- Available
Class A Office Space with Generous Tenant Improvement allowance
Class A Office Space with Generous Tenant Improvement allowance
| Space | Size | Space Use | Build-Out | Available |
| 3rd Fl-Ste 3B | 5,610 SF | Office | Shell Space | Now |
| 4th Fl-Ste 400 | 23,590 SF | Office | Shell Space | Now |
| 5th Floor | 7,811 SF | Office | Shell Space | Now |
3rd Fl-Ste 3B
| Size |
| 5,610 SF |
| Space Use |
| Office |
| Build-Out |
| Shell Space |
| Available |
| Now |
4th Fl-Ste 400
| Size |
| 23,590 SF |
| Space Use |
| Office |
| Build-Out |
| Shell Space |
| Available |
| Now |
5th Floor
| Size |
| 7,811 SF |
| Space Use |
| Office |
| Build-Out |
| Shell Space |
| Available |
| Now |
3rd Fl-Ste 3B
| Size | 5,610 SF |
| Space Use | Office |
| Build-Out | Shell Space |
| Available | Now |
4th Fl-Ste 400
| Size | 23,590 SF |
| Space Use | Office |
| Build-Out | Shell Space |
| Available | Now |
Class A Office Space with Generous Tenant Improvement allowance
5th Floor
| Size | 7,811 SF |
| Space Use | Office |
| Build-Out | Shell Space |
| Available | Now |
Class A Office Space with Generous Tenant Improvement allowance
Presented by
Freedom Commons | 145 W 200 N
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