Salt Lake City - March 10, 2016 – The Salt Lake office of CBRE today announced the first lease to be signed at Grove Creek II in Pleasant Grove. An automated electronic control design organization leased the top floor of the building, consisting of 20,000 square feet. James Mecham and Eric Smith represented the landlord—Nearon Enterprises—in the transaction.
“Grove Creek II was a speculative project; development of the building was underway before any tenants had commited to lease space,” stated Smith, senior vice president. “Having a solid tenant commit to lease a full floor of the building is evidence that the local market is strong, and there is still some room for growth.”
Grove Creek II is an office building located within a five-building, master-planned business park in Pleasant Grove. Consisting of 60,000 total square feet, Grove Creek II is now 33 percent leased. It is the third building within the park to be developed and is expected to be completed by July of 2016.
Nearon Enterprises is a privately held real estate investment company located in Walnut Creek, California. They currently own and manage approximately 5 million square feet of commercial real estate assets, principally located in California and Utah. Learn more at www.nearon.com
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2014 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.
