Market Overview

VMG Completes Sale and Purchase of the Automobile Association Building at 888 S. University Park Blvd. Clearfield, Utah


Vectra Management Group (VMG) today announced the completed sale of 888
S. University Park Blvd. in Clearfield, Utah. VMG represented the buyer,
Clearfield 888, LLC, a real estate holding company owned by Philadelphia
attorney and real estate investor Victor F. Keen. VMG also secured the
financing for the transaction from Key Bank's Salt Lake City commercial
banking division. VMG and CBRE represented the seller, 888 Associates,
LLC, a VMG sponsored company that acquired the property in November 2015.

Managing Director Raju Shah and Director Bryan Barnes led the VMG team
on the purchase and financing.

"This property is a solid investment with high-quality NNN tenants on
long-term leases. The dynamic growth in this market makes for an ideal
acquisition and will complement the rest of my portfolio," said the
buyer, Victor Keen.

Mr. Shah added, "The building offers great access in a high-quality
labor market with a parking ratio in excess of 8:1,000; which is ideal
for the 24/7 call center environment of our two tenants. With
spectacular views over the valley to the west and the mountains to the
east, the property is highly desirable. Debt capital continues to be
available for high-quality sponsors investing in superior assets like
this one."

The Buyer, Clearfield 888, LLC, retained VMG for property and asset
management services. Chloe Gehrke, Director and Principal Broker for
VMG's Utah-based property management division, stated, "We are honored
to be entrusted with the continued management of this property. We look
forward to efficiently maximizing the asset's value and exceeding the
expectations of our tenants."

The 129,949-square-foot Class A office building located on 11.32 acres
is located in the "red-hot" Davis County market just south of Hill Air
Force Base. The building was constructed from 1999 to 2001, and fully
renovated from 2014 to 2016. It is comprised of one building with a
two-story north wing and a three-story south wing.

About Vectra Management Group

Vectra Management Group (VMG) is a full-service commercial real estate
investment, development and management company specializing in office,
retail and industrial properties with offices in Salt Lake City, New
York and Los Angeles. Vectra Management Group is an active member of
BOMA Utah, CCIM and IREM. For further information, visit

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