80,000 sq. ft. medical office building, dated construction and under 50% leased.
Project construction in process with over 50% of the building pre-leased. ICO Capital Finance providing construction financing. Anticipate >30% IRR.
Notes backing distressed, aged product, located adjacent to top 10 metro area hospital, available for purchase from bank. Project could be rehabilitated and marketed to medical professionals.
Demolish dated wings of the building, free up parking to allow for more user convenience, and rehab/modernize the building so upscale medical professionals would locate adjacent to one of the most successful hospitals in the Salt Lake City area.
ICO Companies Office:
3401 N. Center St. Suite 300 Lehi, UT 84043
The ICO Companies, a sister company to Ivory Homes, Utah’s Largest Homebuilder for 29 years.