Chartway Office Building Sold.
$1,425,000
The Chartway Office Building sold that is located in Cedar City’s busy Main Street at 444 South Main. The Chartway Office building is also known as the Ferrous building. Jason Griffith, CCIM, Commercial and Investment Specialist at NAI Excel, was exclusively retained by the Seller of the Class B Building and their associate, Twila Davis to Market and sell the building. The Chartway Office Building sold, being the third office building in Cedar City that Griffith and Davis have sold in the last 18 months.
Griffith emphasized the high traffic counts, proximity to I-15 and the building being a leased investment asset. Griffith and Davis successfully negotiated a sales price close to asking price between the seller and the buyer. Griffith represents investors with investment acquisitions in Utah and throughout the United States
“Quality investments can be difficult to find in this market and pose unique challenges to overcome.” Stated Griffith.
Due to the smaller market size of Cedar City, marketing time for larger office buildings can be longer depending on the CAP rate. The Chartway Office building includes of 16,000 square feet of leased space making it a great investment for the new owners
About NAI Excel
NAI Excel was formed in 2001 from a joint venture between Southern Utah’s oldest commercial team and largest commercial brokerage firm, ERA Brokers Consolidated Commercial Division, and the premier commercial brokerage in Salt Lake City, NAI Utah. Originally NAI Utah Southern Region, we became NAI Excel better reflecting our commitment to helping clients excel in real estate across the Intermountain West.