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LUCAS M. BURBANKlburbank@ngacres.com801.578.5522
BRYCE BLANCHARD, MBAbblanchard@ngacres.com801.578.5555
EXCLUSIVELY MARKETED BY:
WAGNER BUILDINGINVESTMENT MEMORANDUM2323 SOUTH 900 WESTSALT LAKE CITY, UTAH
Located off Highway 210 in the Low-Vacancy Wagner Industrial Park Sub-Makret
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EXECUTIVE SUMMARY
WAGNER BUILDING INVESTMENT MEMORANDUM2323 SOUTH 900 WEST I SALT LAKE CITY I UTAH
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EXECUTIVE SUMMARYWe are proud to present the First Wagner building as an investment sale opportunity.
This 100% occupied building is located within one of Utah’s most established and
active industrial parks. Situated adjacent to the nexus of I-15 and Highway 201, Wagner
Industrial Park is known for its historically low vacancy rate and proximity to downtown
Salt Lake City. Access to First Wagner is almost unbeatable with virtually instantaneous
arrival from Highway 201 on 900 West. The building is 124,892 square feet on 7.69 acres
and currently contains four high-quality tenants with staggering lease expirations. This
property will be attractive for investors looking for a fundamentally sound acquisition.
We don’t expect this deal to last long based on value relative to replacement cost and
potential upside on rental rates.
OCCUPIED 100%
NOI $478,819
BUILDING SIZE: 124,892 SF
ACREAGE 7.69
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RENT ROLL &PROFORMA
WAGNER BUILDING INVESTMENT MEMORANDUM2323 SOUTH 900 WEST I SALT LAKE CITY I UTAH
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RENT ROLL AS OF JULY 1, 2017
PROFORMA
Net Operating Income $478,819
Vacancy and Reserves (5%) $(23,941)
NOI Less Vacancy & Reserves $454,878
SUITE TENANT SF BASE RENT MONTHLY ANNUAL LED COMMENTS
1 Mondi Bags USA 17,860 $0.33 $5,864 $70,368 8/31/2018
3&7 Mike's Milk LLC 15,689 $0.34 $5,387 $64,639 9/30/2019 -10/1/18 - Rent bump to 5,543.45
6 EMH Transportation 49,881 $0.33 $16,627 $199,524 6/30/2024 -2% annualincreases each July
4&5 Mesa Moving and Storage 41,462 $0.29 $12,024 $144,288 12/31/2017 Mesa leases the adjacent building on a long-term basis.
Totals 124,892 $0.319 $39,902 $478,819
MONDI BAGS USA
MIKE’S MILK LLC
EMH TRANSPORTATION
MESA MOVING AND STORAGE
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AERIALMAPS
WAGNER BUILDING INVESTMENT MEMORANDUM2323 SOUTH 900 WEST I SALT LAKE CITY I UTAH
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AERIAL MAPS
Salt Lake City International Airport
South Valley Regional Airport
Sa lt L a ke C i ty
Sa nd y
Dr a p e r
We s t Jo r da n
He r r i ma n
We s t V a l le y C i ty
Mu r r a y
Sou th J or d a n
Riv e r t on
B luf fd a le
Ho ll a da yTa yl or s v i l le
Mid v a le
A lpi ne
Co tt on wo od H e i gh ts
Le h i
Sou th S a lt L a ke
Nor t h S a l t L a keBoun t ifu l
Hi gh la n d
§̈̈80
§̈̈215
§̈̈15
§̈̈215
201
Red
woo
dR
oad
2700
Wes
t
5600
Wes
t
Sta
teS
tree
t
3200
Wes
t3500 Sou th
9000 South
1300
We s
t
540 0 South
300
We
st
500
Eas
t
1300
Ea
st700
Eas
t
4100 South
900
We
st
7800 South
114 00 South
1700 Sou th
3300 South
4000
Wes
t
3900 South
480
0W
est
4700 South
13400 South
450 0 South
6200 South
400 Sout h
94 00 South
700 Sout h
Ca li fo rnia A ven ue 130 0 South
3100 South
12600 South
9 00
Eas
t
3600
Wes
t
11800 South
2700 Sou th
480 0 Sout h
H ighl an dD r i v
e
800 Sout h
7200
Wes
t
1 100
Ea
st
Old B ingh am Hig h way
800 N ort h
Cre ek R oa d
2200
Wes
t
9800 South
Ne w B ing ham H igh way
Foo thi l l
Dr iv e
5600 Sou th
7000 South
500
We
st
8400
Wes
t
12 300 Sout h
Bec k
S tre et
10600 South
6 00 Nort h
300
Eas
t
5900 Sou th
170
0E
a st
500 Sout h
South Tem ple
2100
Ea
st23
00 E
as
t
7200 South
700
We
st
5300 Sou th
300 Sout h
1 46 00 Sout h
Vin e Stre et
14400 South
2100 N ort h
8600 Sou th
2100 Sou th
900 Sout h
13 100 S out h
Cana
lS
t r eet
5500
Wes
t
2000
Ea
st
Em ig r at i on
Ca ny o n Road
Herr i man H ig hway
13800 South
Trave rse R id ge Ro ad
Mi l lc re e k Ca nyo n
Po rt er Ro c kwellB oule
vard
Pio
nee
rS
tree
t
N
ew castle Dr iv e
Lake Pa rk Bo ul eva rd
Sh ield s Lan e
1820 South
M urray- H o llad a y Road
1100 South
8680 Sou th
B ig C o t ton wo od C anyon
2300 N ort h
9200
Wes
t
5200
Wes
t
9 00
Eas
t
700 0 So ut h
620 0 Sout h
5600
Wes
t
1300
Ea
st
9 00
Eas
t70
0E
ast
7200
Wes
t
7 000 So uth
4000
Wes
t4800
Wes
t
118 00 South
1700
Ea
st
2300
Ea
st
7800 Sou th
Ban ge rt er Highway
111
201
£¤89
8568
£¤89
WAGNER BUILDING INVESTMENT MEMORANDUM2323 SOUTH 900 WEST I SALT LAKE CITY I UTAH
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AERIAL MAPS
!(
§̈̈15So ut h S a l t L a k e
We st V a l l e y C i ty
Sa l t L a ke C i ty
201
230 ,000ca rs /d a y
260 ,
550
cars
/day
300
Wes
t
900
Wes
t
2100 South
3300 South3500 South
500
Wes
t
900
We s
t
9 ,630 cars/day4,535 cars/day
12,4
20ca
rs/d
ay14
,155
car s
/day
31,460 cars/day
5,45
0c a
rs/d
ay13
,780
cars
/da y
WAGNER BUILDING INVESTMENT MEMORANDUM2323 SOUTH 900 WEST I SALT LAKE CITY I UTAH
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AERIAL MAPS
YARD
193'53' 507'
132'231'
105'
730'
519'
Dav
isR
oad
2300 South
900
Wes
t14
,175
cars
/da y
Imagery ©2017 , DigitalGlobe, State of Utah
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ASSETSPECIFICATIONS
WAGNER BUILDING INVESTMENT MEMORANDUM2323 SOUTH 900 WEST I SALT LAKE CITY I UTAH
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ASSET SPECIFICATIONSBUILDING SIZE 124,892 SF
ACREAGE 7.69
FENCED YARD Yes
LOADING Combo Loading Docks
DOCK DOORS 45
GROUND LEVEL DOORS 4
COLUMN SPACING Varies: 25’ x 40’ & 36’ x 36’ 6”
CLEAR HEIGHT Varies Up to 32’
ZONING Light Industrial
BUILDING CLASS Masonry Wall
EXTERIOR WALL Concrete
TRUCK COURT 180’
POWER 3-Phase Power Supply
HVAC Yes (In Offices)
SPRINKLERS Yes (Non ESFR)
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AREA INFORMATION
WAGNER BUILDING INVESTMENT MEMORANDUM2323 SOUTH 900 WEST I SALT LAKE CITY I UTAH
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UTAH ACCOLADES
TOP STATE FOR BUSINESSRATED AMERICA’S TOP STATE FOR BUSINESS(CNBC, 2016)
AAA1 OF 13 STATES AWARDED A AAA CREDIT RATING(Standard & Poor’s, 2015)
#1 FOR BUSINESS#1 BEST STATE FOR BUSINESS(Forbes, 2015)
#1#1 PRO-BUSINESS STATE FOR 3RD CONSECUTIVE YEAR(Pollina and AEDI)
AWARDED GOLD SHOVELby Area Development Magazine for “significant job creation, infrastructure improvement and for leading the nation in fostering a world-class business environment.”(Utah Governor’s Office of Economic Development, 2016)
TOP 10LABOR MARKET – SALT LAKE & PROVO BOTH RANKED TOP 10(Forbes, 2015)
#1 ECONOMY#1 STATE WITH THE BEST ECONOMY(WalletHub, 2016)
EMPLOYMENTUNEMPLOYMENT IS SECOND LOWEST IN NATION(Dept. of Workforce Services)
GLOBALLY RANKEDSALT LAKE CITY RANKED ONE OF THE “15 BEST CITIES TO DO BUSINESS GLOBALLY”(Fortune)
FUNDAMENTALLY SOUNDHIGHEST RESULTS IN 6 PERFORMANCE CATEGORIES(US Chamber Foundation, October 2015)
WAGNER BUILDING INVESTMENT MEMORANDUM2323 SOUTH 900 WEST I SALT LAKE CITY I UTAH
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UTAH DEMOGRAPHICS
JOB GROWTHUTAH 3.3%NATIONAL 1.7%August 2016
POPULATION GROWTHUTAH 7.94%NATIONAL 3.50%2010-2015
MEDIAN WAGEUTAH $33,990NATIONAL $36,1922015
MEDIAN AGEUTAH 29.9NATIONAL 37.42015
COST OF LIVING INDEXUTAH 94.6*NATIONAL 100*Salt Lake City
% BUDGET SPENT ON EDUCATIONUTAH 41% NATIONAL 30%2016
CORPORATE TAXUTAH 5%NATIONAL 6.562016
GDP GROWTHUTAH 2.4% NATIONAL 1.1%Q1 2016
WAGNER BUILDING INVESTMENT MEMORANDUM2323 SOUTH 900 WEST I SALT LAKE CITY I UTAH
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UTAH LIFESTYLE5 NATIONAL PARKS
43 STATE PARKS
14 WORLD-CLASS SKI RESORTS
SALT LAKE RANKED ONE OF THE HEALTHIEST METRO AREAS(ATLANTIC CITIES MAGAZINE)
OVER 9 MILLION ACRES OF
NATIONAL FOREST
UTAH HAS 6TH LOWEST CRIME RATE IN THE U.S.
#1 HIKING CITY (SALT LAKE CITY)(NATIONAL GEOGRAPHIC ADVENTURE)
SALT LAKE RANKED BEST PLACE TO LIVE
2ND MOST LIVABLE STATE(CQ PRESS, 2013)
#1 STATE FOR FUTURE LIVABILITY(GALLUP WELLBEING)
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MARKET INFORMATION
WAGNER BUILDING INVESTMENT MEMORANDUM2323 SOUTH 900 WEST I SALT LAKE CITY I UTAH
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MARKET INFORMATION2016 YEAREND INDUSTRIAL MARKET REPORTCLICK TO VIEW
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