Salt Lake City – Feb 11, 2013 – The Salt Lake City office of CBRE today announced the sale of 185 South State Street in Salt Lake City, UT. Eli Mills and Tucker White represented both the seller, Sun Life of Canada, and the buyer, FJ Management, Inc. (FJM).
The buyer, FJM, is a privately held corporation currently headquartered in Ogden, UT. They plan on relocating to the Salt Lake City office tower this spring, making it their new corporate headquarters. FJM is a diversified holding company which owns and operates the Big West Oil refinery, TAB Bank, and brings with it Crystal Inn Hotels and Suites. They also maintain an ownership stake in both EFS and Pilot Flying J. In December of 2012 they acquired Maverik, Inc., the largest independent fuel marketer in the intermountain west.
“We are very excited to make Salt Lake City our new home”, said Chuck Maggelet, Chief Operating Officer with FJM, “We’ve always believed that Salt Lake is one of the best places to run a business. The city is vibrant, energetic and has a proven history of economic success. With all the new development projects occurring, the city’s energy is bound to keep growing and we look forward to growing our company right along with it.”
Constructed in 1982 and renovated in 2009, 185 South State Street is a 161,083 square foot office building located in the heart of the Central Business District. The building is currently 80 percent leased. FJM will be occupying one floor of the building.
“FJ Management is a strong company that has performed tremendously over the past five years, and they are poised for continued success,” said Eli Mills of the Salt Lake office of CBRE, “They have deep roots in Utah, and moving them to Salt Lake, one of the most business friendly cities in the country, was a logical step for their business.”
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 firm (in terms of 2011 revenue). The Company has approximately 34,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 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 Web site at www.cbre.com.