Kensington Real Estate Group

Case Studies

PLAZA 7-21

Featuring a three-story office building fronted by a neighborhood shopping center, Plaza 7-21 was well-situated in the Sugar House neighborhood of Salt Lake City. It featured close proximity to the Salt Lake City International Airport and downtown Salt Lake City. With significant deferred maintenance, the team was committed to reinvigorating this tired 69,339-square-foot mixed-use property. Kensington performed a major renovation and implemented a re-tenanting program that converted 80-percent of its existing tenant mix. Synergy was created with well-known local and national tenants such as Sketchers, Jimmy John’s, Fast Signs, Jenny Craig and Rumbi Island Grill. The combined efforts brought the property to 97-percent leased upon its sale. The listing attracted institutional and private investment entities seeking yield and cash flow stability.