Cricut Extends 128 KSF Office Lease in Salt Lake City
Argent Group owns the building in South Jordan, Utah.
Crafts solution provider Cricut Inc. has extended its full-building, 128,000-square-foot headquarters lease at Building 5 within RiverPark Corporate Center in South Jordan, Utah, for two more years. Argent Group owns the asset, according to CommercialEdge.
The company’s term at the Salt Lake City low-rise now runs through at least 2029. Cushman & Wakefield represented the tenant.
Cricut has been a tenant at the property for the past 10 years, with no disruptions in occupancy. RiverPark Corporate Center is a 14-building, 1.1 million-square-foot campus that has office, retail and hotel components.
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The five-story RiverPark Five came online in 2007. The low-rise has retail space on the ground level and floorplates averaging 29,248 square feet, CommercialEdge shows. Amenities at the campus include a fitness center and a 35-acre park with walking trails.
The office building is located at 10855 S. River Front Parkway, near Interstate 15. Downtown Salt Lake City is 16 miles away, while the city’s international airport is 20 miles north.
Cushman & Wakefield Executive Managing Directors Dana Baird and Mike Richmond led the team that worked on behalf of Cricut Inc.
Salt Lake City’s office sector remains steady
At the end of the first quarter, Salt Lake City’s office vacancy rate clocked in at 18.7 percent, according to a JLL market report. Meanwhile, the overall direct asking rate clocked in at $26.2 per square foot.
Last week, HF Sinclair signed a 40,367-square-foot long-term lease at The 324, an office building in downtown Salt Lake City. Mortenson Properties and Hamilton Partners own the property.
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