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Sego Lily

Sego Lily, GCREIT holding

This high-tech office building was constructed in 2017, LEED Silver designed and is 97% leased to eight tenants. It is located in the “Technology Corridor” or “Silicon Slopes” and is directly adjacent to a TRAX light rail stop providing direct access to Salt Lake City downtown and Provo.

The property is 97% occupied by a diverse rent roll with a weighted average lease term of approximately seven years. With a majority of the leases expiring in 2025 and 2027, the asset offers great income stability with the opportunity to execute a mark-tomarket strategy over the hold period.

Identified as a technology leader and millennial magnet, Salt Lake City is poised to attract and retain fresh talent from its universities offering a leading lifestyle wedged between a lake and two mountain ranges.

— Richard Kimble, Portfolio Manager

Salt Lake City is a lifestyle leader and a millennial magnet. Its attractive quality of life, proximity to the lake and mountains and relatively favorable costs of living drive population and job growth, particularly among millennials. Utah is growing as a hotspot for technology and is home to four unicorns, which are companies valued at over $1 billion. The city benefits from a highly diversified economy; aerospace, computer design and life science have thrived thanks to a well-educated workforce and a lower cost of doing business.

Sego Lily, GCREIT holding
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These properties represent select holdings at the time of publication and are not meant to represent the entire portfolio. The opinions expressed are reflective of the manager's views at the time of acquisition.