LOS ANGELES and SANDY, Utah, July 21, 2009 (GLOBE NEWSWIRE) -- Hager Pacific Properties (HPP), one of the largest privately owned real estate investment firms in California, has leased a 131,000-square-foot office space in Sandy, Utah, just South of Salt Lake City, to Vangent, Inc. The lease represents the largest office lease yet to be executed in 2009 in terms of square footage in the Salt Lake City market and is valued at approximately $2.2 million dollars per year.
Vangent, a leading global provider of information management and strategic business process outsourcing solutions, will lease the office space for a 2010 U.S. Census call center.
"The commercial real estate market in Salt Lake City remains strong with low vacancy rates and increasing leasing activity," said Rob Neal, HPP managing partner. "The property allows the entrance of a leading global company into the local market bringing over 1200 jobs to Sandy."
The property, situated on 14-acres, is located at 8475 Sandy Parkway, in close proximity to Interstate 15 and the Utah 209.
Chris Kirk and Todd McLachlan of Commerce CRG represented HPP and Mark Larsen and Dan Brenan of Larsen Commercial Real Estate Services, Inc. represented Vangent.
About Hager Pacific
With offices in Los Angeles and Orange County, Hager Pacific Properties (HPP) is a real estate investment firm guided by a value-added investment philosophy implemented through the acquisition of under-performing, aged or environmentally impacted real estate. Managed by David Hager, Adam Milstein and Rob Neal, the firm's investments have become more valuable through repositioning, renovation or reuse of the property. The preferred buyer of challenging properties, HPP self-funds its real estate deals without outside capital. The company's portfolio consists of almost 100 assets ranging in size from 25,000 to over one million square feet and features a wide variety of product types including office buildings, research and development complexes, apartment buildings, community shopping centers, warehouses and industrial facilities. The portfolio consists of 10 million square feet of industrial, office and retail properties and 3,000 apartment units valued at a total of $1 billion. For more information about HPP, please visit www.hagerpacific.com.
About Vangent, Inc.
Vangent, Inc. is a global provider of consulting, systems integration, human capital management, and business process outsourcing services to the U.S. Federal and international governments, higher education institutions, and corporations. Vangent's 6,000 employees support clients including the Centers for Medicare & Medicaid Services, the U.S. Departments of Defense, Education, Health and Human Services, and Labor; and the U.S. Office of Personnel Management, as well as Fortune 500 companies. Headquartered in Arlington, Virginia, the company has offices throughout the U.S. and in the U.K., Canada, Mexico, Venezuela, and Argentina. For more information, visit www.vangent.com.