JLL is pleased to present the opportunity to acquire the fee simple interest in Granger Medical Clinic (the “Property”), a four-story, 94,834-square-foot, Class A+ medical outpatient building located in an infill Salt Lake City MSA location in West Valley City, Utah. Completed in 2020, the Property is 100% leased to Granger Medical (“Granger”), one of Utah’s largest independent, physician-owned medical groups, under a NNN lease with
8.2 years of weighted average lease term remaining and contractual annual rent escalations equal to the greater of 2.0% or CPI-W, with no maximum.
Founded in 1954 in West Valley City, Utah, Granger has grown over its 72- year history into a network of more than 160 providers across 29 specialties and 23 locations. The Property consolidated services from multiple legacy clinics across the region into a single flagship campus, embedding it within the group’s referral network and anchoring it as the heart of Granger’s extensive valley-wide platform.
The Property anchors the 40-acre Fairbourne Station mixed-use development, a transit-oriented district in West Valley City featuring direct light rail access along with retail, multifamily, hospitality, and civic uses. Purpose-built to support Granger’s extensive set of multi-specialty uses within, the building offers a best-in-class physical product and features an imported terracotta and ACM panel façade, terrazzo flooring, extensive
glazing delivering abundant natural light, and 15-foot slab-to-slab heights supported by a steel-frame structure.
The Property represents one of the highest-quality single-tenant medical outpatient assets to come to market in the Mountain West. The combination of purpose-built asset, dominant local tenant, NNN lease with uncapped escalations, and a transit-served infill location within one of the nation’s fastest-growing metropolitan areas makes Granger Medical Clinic a rare acquisition opportunity.