October 13, 2008

Boise Firm to Break Ground on 160,000 Sq. Ft. Office ‘Lifestyle’ Center

By Rattle, Barbara

Boise-based real estate developer DBSI is preparing to break ground for Phase One of Lone Peak Corporate Center, billed as the Salt Lake Valley's first lifestyle office park, adjacent to I-15 at 12300 South in Draper.

The first phase will consist of two three-story buildings, each measuring just more than 80,000 square feet and based on a design concept that is new to Utah but which has been very successful in the Seattle/Bellevue area, according to Aaron Jones of CB Richard Ellis, one of three brokers marketing the property.

"The buildings will be connected by what's called the Great Room, which is almost 5,000 square feet, two stories and glass," Jones said. "So as you enter this building you walk straight up to this Great Room and in it there will be a stone floor, fireplace and seating areas, and off to the sides they'll have food services and seating areas with plasma screen TVs, Wi-Fi, a corporate training center, conference rooms, a fitness center. The lobbies for each building will go off the Great Room. It's really meant to create a space that's usable and comfortable so that you can come out of your cubicle and go down there and have lunch and still work. And as you go out to the east, it opens up onto a plaza patio that is designed as an amphitheater so that tenants can have company meetings. It's about 4,500 square feet of patio that is functional, usable meeting space."

Jones said he is targeting larger tenants to occupy the Class A office space.

"We think our target market is technology companies, back office production centers, people that would benefit from a larger floorplate and being able to draw on the workforce from both Salt Lake and Utah counties," he said.

Phase Two, he said, will consist of a pair - of two-story buildings, each about 56,000 square feet. The entire project has been designed to be LEED Silver certified. Architect is Seattle- based CollinsWoerman, which has designed the development to incorporate abundant natural light and provide unobstructued mountain and valley views.

When ground will be broken for the first phase of Lone Peak Corporate Center is dependent on securing tenants for another DBSI project, the nearby Draper Tech 21 Building, Jones said.

"They [DBSI] want to get the Tech 21 building at least 55 percent leased before they break ground on Lone Peak," he said. "We've signed our first lease at Tech 21 and we've got two others so I think we'll get there in 60 days. We've got proposals out to three tenants on Lone Peak. If we got just one of those three we'd break ground. Our goal still is to get the project off the ground this year and look for an early third quarter 2009 completion of phase one."

Copyright Enterprise Business Newspaper Inc. Sep 22, 2008

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