News Release: Westport Capital Announces Tenant for New Sugar House Development

June 22, 2017 02:18 PM Eastern Daylight Time

University of Utah Health will occupy one of two office buildings in the new project as the sole tenant of 170,000 square feet in the building on the southeast corner of the development. (Rendering courtesy of Westport Capital Partners)

SALT LAKE CITY–(BUSINESS WIRE)–Westport Capital Partners, on behalf of certain funds it manages, today announced a lease with University of Utah Health for the investment firm’s new Sugar House development located at 2290 South 1300 East. U of U Health will occupy one of two office buildings in the new project as the sole tenant of 170,000 square feet in the building on the southeast corner of the development.

“University of Utah Health is the perfect partner for the Sugar House community,” said Principal & Portfolio Manager for Westport Capital Partners, Greg Geiger. “Early on in the planning process we sought feedback from the community on what they wanted to see in the area. One of the key themes we heard was that Sugar House really needs is more daytime users for existing retail and dining establishments. The new University facility will not only provide easy access to top-notch medical services, but more than 200 employees and hundreds of visitors will come into the area each day who will shop, dine and support local businesses – infusing the economy and strengthening this growing community.”

The U’s Sugar House Clinic will focus on promoting the health of the community, offering a wide range of health services to patients, including primary and preventative care, oncology care and weight loss services.

“This property was a natural fit for us. From the breathtaking views to the easy access of I-80 and proximity to the Sugar House business district, this location accommodates our patients by moving critical services from our hospital campus into the community where it’s more convenient,” says Wayne Imbrescia, executive director of ambulatory services at U of U Health.

Westport’s Sugar House development is set to include two office towers and a multi-family residential building. Elements of the project include the creation of a new street to reconnect Highland Drive and 1300 East, pedestrian and biking improvements along the new street and Ashton Avenue, ample below-grade parking that blends with the nearby structures, retail spaces, a public plaza, public art and programmable active window displays that will activate the street for pedestrians as they enter the greater Sugar House business district.

Demolition on the site is expected to begin in June with the U of U Health building anticipated to be complete mid-2019.

Westport Capital Partners is currently undergoing approval processes with Salt Lake City Corporation to finalize designs for the project and will announce the listing broker to lease the second office tower totaling 150,000 square feet soon.

For more information about the Westport project and to stay up-to-date on progress visit sugarhousehello.com

About The University of Utah Health

University of Utah Health is the Mountain West’s only academic health care system, providing leading-edge and compassionate care for the people of Utah and a referral area encompassing five states and more than 10 percent of the continental United States. The health system includes four hospitals and 12 community clinics with more than 1,400 physicians practicing in more than 200 medical specialties. U of U Health is currently ranked number one in the nation among academic medical centers in the rigorous Vizient Quality and Accountability study, and has ranked in the top 10 for seven years running. University of Utah Hospital is currently ranked number one in the metro area ranking of U.S. News and World Report and is consistently ranked among the country’s best hospitals in U.S. News and World Report’s annual Best Hospitals list.

About Westport Capital Partners LLC

Westport Capital Partners LLC is a real estate investment firm focusing on adding value to real estate and “hands-on” solutions to complex situations. Westport provides domestic and international real estate related investment opportunities to institutional and private clients. Through its various funds, the firm invests in a wide variety of value added and core plus real estate assets. The firm has offices in Los Angeles, California, Wilton, Connecticut, Bozeman, Montana and London, England. For more information regarding Westport Capital Partners LLC, please visit westportcp.com.

Contacts

Media:
Westport Capital Partners LLC
Lindsey Ferrari, 801-673-5618
lindsey@wfandco.com

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