The Salt Lake City office of CBRE has announced that Utah developer Warren “Pat” King has purchased a six-building office park that was formerly a part of Novell’s corporate campus in Provo.
Financial terms were not disclosed. The newly named East Bay Technology Park will be leased and managed by CBRE, a commercial real estate services firm.
“We want to position this park to play a meaningful role in the high quality, high-tech economic development of Provo, Utah County and the state,” said King.
The CBRE team of Laurie Adair, Tab Cornelison and Scott Wilmarth will oversee leasing. Additionally, CBRE’s Asset Services will oversee property management of the park through an office onsite.
The park, which is 40 percent leased to several technology tenants, sits on 28 acres. The six building, which are connected by enclosed corridors and sky bridges, offer nearly 500,000 square feet leasable office space. The park is situated near Interstate 15 and will have access to the new FrontRunner South commuter rail line.
The buildings were constructed from 1986 to 1993. Three were renovated in 2009 and 2010.