KBS Realty Advisors one of the country’s leading owners and advisors of commercial real estate, has finalized a new headquarters lease with AlphaGraphics, Inc. at its 190,320-square-foot Parkside Tower property in downtown Salt Lake City. The new lease brings the 13-story tower, acquired by KBS in 2006, to 91-percent occupancy.
AlphaGraphics, a franchised chain of more than 270 print and marketing communication centers, is relocating from neighboring 268 South State Street in Salt Lake City to a 7,929-square-foot suite on the third floor of Parkside Tower. AlphaGraphics will expand to approximately 9,500 square feet once the neighboring tenant vacates the property in August 2012.
Jeff Rossi of Commerce Real Estate Solutions in Salt Lake City represented AlphaGraphics, while Scott Wilmarth and Nadia Letey from CBRE in Salt Lake City represented KBS.
Constructed in 1984, Parkside Tower is a Class A office building and attached six-level parking structure. Located at 215 South State Street and offering easy access to I-15 and I-80, the 1.84-acre property was extensively renovated in 2010. Onsite amenities include a deli, fitness center and conference center.
A global leader in print and marketing communications, AlphaGraphics offers more than 270 independently owned and operated business centers primarily in the U.S., with centers also in Brazil, China, Hong Kong, Saudi Arabia and the United Kingdom.
KBS-affiliated companies also own South Towne Corporate Center in Sandy, Utah, for a total of 438,672 square feet in the greater Salt Lake City area.