Wasatch Commercial Management and Wasatch Real Estate Partners have purchased the City Centre Building at 175 E. 400 South in Salt Lake City from Price Prowswood LLC.
The newly acquired building is also known as the Chamber of Commerce Building because it houses the Salt Lake organization.
The $50 million purchase adds to the Wasatch companies' sizable office portfolio, which includes the Wells Fargo Building, the Ken Garff Building and the Chase Tower. Chief Executive Officer Dell Loy Hansen said the purchase is part of his vision of creating a vibrant business, commercial and residential core in downtown Salt Lake City.
"We believe the world is beginning to rediscover the benefits of doing business and living in a growing and energized central business district," Hansen said in a statement. "Salt Lake's best days are ahead of us, and we expect to energetically act on that assumption.”
- Rosemary Winters
DataChem acquires rival
Utah's DataChem Laboratories has acquired CCI Analytical Laboratories for $2.3 million in cash.
With the purchase of the Everett, Wash., chemical and toxic-waste testing service, DataChem will have a combined work force of 185 employees. No layoffs were announced Monday in conjunction with the deal.
DataChem, a pioneer in today's multibillion-dollar, environmental-testing industry, has laboratories in Utah, Washington, Ohio and Colorado to serve a variety of public- and private-sector clients.
"The financial strength and diversity of the combined DataChem will allow both CCI and DataChem to flourish and provide its clients with an even higher level of service and scientific excellence," said Ken Olson, president and CEO of Taylorsville-based DataChem.
- Bob Mims
