{"id":1004749776,"date":"2025-03-06T23:26:28","date_gmt":"2025-03-07T07:26:28","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004749776"},"modified":"2025-03-10T07:43:15","modified_gmt":"2025-03-10T15:43:15","slug":"fort-street-jv-picks-up-office-duo-in-salt-lake-city","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/fort-street-jv-picks-up-office-duo-in-salt-lake-city\/","title":{"rendered":"Fort Street JV Picks Up Office Duo in Salt Lake City"},"content":{"rendered":"
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\"Exterior<\/a>
Lehi Spectrum consists of a first five-story building at 1650 W. Digital Drive that serves as Podium’s headquarters, and a second office building at 1550 W. Digital Drive. Image courtesy of CommercialEdge<\/em><\/figcaption><\/figure><\/div>\n\n\n

Fort Street Partners, in joint venture with Cumming Capital Management, has acquired Lehi Spectrum I and II, Utah Business<\/em> reported. The Boyer Co. previously owned the 257,000-square-foot Class A office building duo, located in Lehi, Utah.<\/p>\n\n\n\n

Woodley Real Estate and Newmark brokered the deal on behalf of the seller.<\/p>\n\n\n\n

Lehi Spectrum I is at 1650 W. Digital Drive, while Lehi Spectrum II is at 1550 W. Digital Drive. Completed between 2018 and 2020, both properties were developed by The Boyer Co. as Podium\u2019s headquarters, which currently occupies space at Lehi Spectrum I. The second building\u2019s tenant roster includes Vivint, Waystar and DevMountain.<\/p>\n\n\n\n

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READ ALSO<\/strong>: Beyond Aesthetics: Prioritizing Well-Being in Workplace Design<\/a><\/p>\n\n\n\n

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Situated on a 14-acre lot across the Interstate 15 corridor, the properties allow easy access through the Silicon Slopes tech hub. Provo, Utah, is 19 miles away and Salt Lake City is 26 miles from Lehi Spectrum. Meanwhile, Salt Lake City International Airport is some 30 miles away.<\/p>\n\n\n\n

Both office buildings rise five floors and include 25,000-square-foot floorplates, three passenger elevators each and a total of 1,159 vehicle parking spots, according to CommercialEdge. Amenities feature a fitness center, locker rooms with showers, a daycare, pickleball courts, an open space auditorium and food services.<\/p>\n\n\n\n

Salt Lake City’s rise in office transactions<\/h2>\n\n\n\n

Office sales in Salt Lake City generated $472 million in 2024, according to fourth quarter Cushman & Wakefield report on the metro’s investment activity. There were 46 office assets totaling 2.4 million square feet that traded at an average sale price of $202 per square foot. <\/p>\n\n\n\n

The investment activity increased since the $370 million recorded during the previous year, but the Salt Lake City metro is also expected to continue to see a rise in discount deals, reflecting current national office real estate trends<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

One of the buildings houses the headquarters of Podium. <\/p>\n","protected":false},"author":2991,"featured_media":1004749823,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,21742,21747,1606,51973],"tags":[52563,33435,33583,50999],"class_list":["post-1004749776","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-latest","category-office","category-salt-lake-city","category-southwest","tag-fort-street-partners","tag-goldman-sachs","tag-nationwide-life-insurance-company","tag-newmark"],"acf":[],"yoast_head":"\nFort Street JV Picks Up Office Duo in Salt Lake City - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Fort Street Partners and Cumming Capital Management have acquired two Class A office buildings in Lehi, Utah., from The Boyer Co.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/fort-street-jv-picks-up-office-duo-in-salt-lake-city\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fort Street JV Picks Up Office Duo in Salt Lake City\" \/>\n<meta property=\"og:description\" content=\"Fort Street Partners and Cumming Capital Management have acquired two Class A office buildings in Lehi, Utah., from The Boyer Co.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/fort-street-jv-picks-up-office-duo-in-salt-lake-city\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2025-03-07T07:26:28+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-03-10T15:43:15+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/03\/1650-West-Digital-Drive-pic-e1741266320539.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"750\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Simona Tudose\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/fort-street-jv-picks-up-office-duo-in-salt-lake-city\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/fort-street-jv-picks-up-office-duo-in-salt-lake-city\/\",\"name\":\"Fort Street JV Picks Up Office Duo in Salt Lake City - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/fort-street-jv-picks-up-office-duo-in-salt-lake-city\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/fort-street-jv-picks-up-office-duo-in-salt-lake-city\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/03\/1650-West-Digital-Drive-pic-e1741266320539.jpg\",\"datePublished\":\"2025-03-07T07:26:28+00:00\",\"dateModified\":\"2025-03-10T15:43:15+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/4659e2337f06b61cefc6b0b897d183a4\"},\"description\":\"Fort Street Partners and Cumming Capital Management have acquired two Class A office buildings in Lehi, Utah., from The Boyer Co.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/fort-street-jv-picks-up-office-duo-in-salt-lake-city\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/fort-street-jv-picks-up-office-duo-in-salt-lake-city\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/fort-street-jv-picks-up-office-duo-in-salt-lake-city\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/03\/1650-West-Digital-Drive-pic-e1741266320539.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/03\/1650-West-Digital-Drive-pic-e1741266320539.jpg\",\"width\":1000,\"height\":750,\"caption\":\"Exterior shot of 1650 W. 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