CBRE Arranges Four Office Leases for KBS for New and Returning Tenants at 222 Main in Salt Lake City

CBRE has facilitated four leases for KBS at 222 South Main Street, a 22-story Class A office building in Salt Lake City, bringing the building to 100% direct occupancy.

CBRE’s Scott Wilmarth and Nadia Letey represented the landlord, KBS, one of the largest owners and operators of premier commercial real estate buildings in the nation, in the lease negotiations.

The leases, which involve nearly 30,000 square feet, include:

• UMB Bank, the Missouri-based financial services holding company, has signed a lease for 6,180 square feet on the second floor.
• Greenberg Traurig, the global law firm, has signed a 4,247-square-foot lease expansion, bringing the company’s total occupancy to 14,636 square feet.
• CBRE, based in Texas and the world’s largest commercial real estate services and investment firm, has signed a lease renewal for 13,085 square feet.
• HKS Architects, the international design firm, has signed a lease for 5,838 square feet on the second floor.

“The flight to quality trend that has gripped much of the national office market in recent years shows no signs of slowing down, as a growing number of local and national tenants seek out high-end properties that offer a number of desirable amenities, including 222 Main,” said Letey. “These four transactions are a reflection of this trend, as downtown Salt Lake City continues to see high leasing demand despite economic headwinds in other markets.”

The property is located at 222 S. Main St. and is proximate to several local amenities including restaurants, hotels, entertainment venues and public transportation stations. The building features an on-site café, a secured bike rack, locker rooms, storage space, on-site property management, dry cleaning services, on-site car wash services and a future fitness center scheduled to open in fall 2023.

“These leases demonstrate that companies are increasingly attracted to well-located premier office properties like 222 South Main Street, which are leading the office sector recovery,” said Tim Helgeson, asset manager for 222 Main and senior vice president at KBS. “The first-class finishes and floor-to-ceiling glass throughout the property, in addition to efficient 22,000-square-foot floor plates and over 9,000 square feet of ground floor restaurants and retail amenities, distinguish it from other office properties in the Salt Lake City market.”

According to CBRE Research, Salt Lake City's office market secured 444,062 square feet in lease transactions in Q1 2023, with the Central Business District, Draper and Sandy South Towne accounting for 49.8% of all leasing activity.