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Innovation Pointe - Building 2

Off-Market

1557 West Innovation Way, Lehi, UT 84043

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  • Property Type Office - General Office
  • Property Size 150,000 Sqft
  • Lot Size 7.35 Acre
  • Parking Spaces Avail. 900
  • Parking Ratio 6.00/ 1,000 SF
  • Property Tenancy Multi-Tenant
  • Building Class A
  • Year Built 2020

Location

  • City Lehi, UT
  • Neighborhood Provence - Madison Place
  • Zip Code 84043
  • Market Salt Lake City

Contacts

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Owner

  • True Owner
  • Registered Owner

Tenants

Suite Name Tenant Leased
Space
Rent Price Lease
Type
Space
Type
Lease Term
370 17th Street #5500 MERRILL, (303) 446-5500 23,824 SF $23/SF/YR Modified
Gross
General
Office
11/01/2014-
N/A
370 17th Street
#6000
Morrison & Foerster,
(303) 592-1500
10,710 SF $26/SF/YR Full
Service
General
Office
08/01/2013-
07/31/2023
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Documents

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Sales

  • Purchase Price
  • Arm's Length True
  • Buyer Name

Mortgages

  • Current Lender
  • Loan Amount
  • Loan Origination Date

Market Trends

Average Actual Rents in Lehi

Average rents use actual signed leases, aggregated for your specific search area and asset type with Yardi Market Insight. Be confident your price is competitive, with CommercialEdge.

Current Average Rent
Net Rent
$44.3/SF/YR
Recoverables Show detailsHide details
$16.7/SF/YR
CAM
$3.54/SF/YR
Insurance
$0.59/SF/YR
Taxes
$9.52/SF/YR
Utilities
$1.76/SF/YR
Management Fees
$1.3/SF/YR
Total Rent
$61/SF/YR
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Occupancy & Leasing Activity
Occupancy
83.5%
Lease Spread
-20.5%
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Asking Rents in Lehi Office Market

Office rental rates are based on aggregated data of asking rates.

  • 2020 Avg. Asking Rent $26.42
  • 2020 Office Vacancy Rate 11.80 %
  • 2020 Office Completions (Sqft) 275,000
View more Lehi market trends

Tax

  • Property Tax in 2020 $273,659
  • Market Value $27,706,700
  • Assessed Value $27,706,700

Find more tax info, including assessment history and abatements, on CommercialEdge

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