June 10, 2016
Vectra Management Group (VMG) acquired a 130,000-square-foot office building at 888 S. University Park Blvd. in Clearfield, UT. The 15-year-old property was originally occupied by Northrop Grumman Corp. The building was renovated in 2014-2015.
According to Davis County records, special servicer LNR Property LLC of Miami Beach, FL was the previous owner. The sales price was undisclosed; the property was assessed at $13.9 million. Craig Thomas with CBRE represented the seller.
Current tenants are Exeter Finance Corp. and the American Automobile Association of Northern California, Nevada and Utah. “The Utah market continues to offer attractive investment opportunities for our partners and clients,” said VMG Managing Director Raju Shah. “888 University has an incomparable mix of high parking ratio, modern build-out and investment-grade tenancy.”