Utah Valley University Buys Salt Lake City-Area Property

The institution had been a tenant at the 103,000-square-foot office building since 2017.
Vibe Thanksgiving Point. Image courtesy of Colliers International

Utah Valley University has purchased Vibe Thanksgiving Point, a 103,000-square-foot office building in Lehi, Utah, from Hayman Properties. The Class A property traded for $22.1 million, according to The Daily Herald

Located at 2912 Executive Parkway, the four-story asset was developed in 2006 within the Thanksgiving Point mixed-use campus. The property features 15,000-square-foot floorplates and a parking ratio of 3.5 spaces per 1,000 square feet. UVU had been the building’s tenant since 2017, when the university leased 13,700 square feet of space for five classrooms, 10 offices and study areas.

The 5.6-acre property is some 25 miles south of downtown Salt Lake City near Interstate 15 and less than 2 miles west of the city’s tallest building. The building is situated across the street from a FrontRunner train station and several bus stations.

Colliers International’s Brandon Fugal and Brent Haight represented both parties in the deal.