Salt Lake downtown businesses see cause for optimism

by | Nov. 03, 2009

News from Utah

Salt Lake City building officials gave the 22-story high rise at 222 S. Main a certificate of occupancy Monday, but it looks like few workers will be occupying it for now.

The building's developer, Hamilton Partners of the Chicago area, has only 20 percent of the building leased, said Bruce Bingham, a founding partner of Hamilton, at a roundtable discussion of downtown development Tuesday. That's the same occupancy rate that was reported in April.

"We anticipate folks will start moving into the building in January," Bingham said.

So far, the Salt Lake offices of two law firms — Denver-based Holland & Hart LLP and Chicago-based Brinks Hofer Gilson & Lione — have signed leases at 222 S. Main. So has the local office of Los Angeles-based commercial real estate firm CB Richard Ellis.

Despite the low occupancy rate, Bingham remains optimistic about what will be one of the tallest buildings in Salt Lake City.

"Things are looking good for additions to that (20 percent)," he said.

Tuesday's roundtable discussion was in the remodeled O.C. Tanner building at 15 S. State. The historic building's renovation is another downtown project and opened in September after previously housing the Hansen Planetarium and Salt Lake City library.

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