Wasatch purchases chamber building, lot
The deal, estimated at $50 million, involves property at 400 South and State Street in Salt Lake City.
Wasatch Real Estate bought the property from Price Prowswood LLC, a partnership originally owned by John Price, Robert Wood and Richard Prows. Wasatch Commercial Management will manage the facility.
"We believe the world is beginning to re-discover the benefits of doing business and living in a growing and energized central business district," Wasatch Property's chief executive officer, Dell Loy Hansen, said in a prepared statement. "Salt Lake's best days are ahead of us, and we expect to energetically act on that assumption."
The Wasatch Property portfolio includes the Wells Fargo Building; the Ken Garff Bank Building, 400 South and Main; and the Chase Tower and Branch Bank Building, 300 South and 100 West. The company also is partnering with Hamilton Partners to build a 430,000-square-foot office tower at 222 S. Main.
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