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Koll/PERSI JV Buys Office Park

SALT LAKE CITY-The Woodland Office Park, a five-building, 52,723-sf park in the Salt Lake City suburb of Layton trades for $6.38 million.

By Brian K. Miller | Updated on November 13, 2006

SALT LAKE CITY-Woodland Office Park, a five-building, 52,723-sf multi-tenant office park located 27 miles north of here in Layton, has changed hands for $6.38 million. The property is located on a 7.4-acre site adjacent to Interstate 15, near the Layton Hills Mall.

The new owner is Koll/PER LLC, a joint venture of Koll Co. of Newport Beach and the Public Employees Retirement System of Idaho. The seller is Puget of Texas Inc. Eli Mills and Tucker White of NAI Utah Commercial Real Estate Co. brokered the transaction.

Woodland Office Park currently has 12 tenants and is 63% occupied. The park includes three single-story buildings and two two-story buildings. Built between 1995 and 1997, the wood-frame buildings have brick exteriors and cedar shake shingle roofs. The street address is 1528-1572 North Woodland Park Dr. The property includes surface parking for 331 vehicles.

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