Jason Griffith, CCIM with NAI Excel sold a 12,940 SF multi-tenant office building at 856 S. Sage Drive in Cedar City for $1,350,000. The purchaser was a tenant of the building. The investment CAP was just under a 7% CAP. Because of the tight investment market, both buyer and seller agreed to a flexible closing date to accommodate additional time for the seller to find a suitable 1031 exchange property.

The current ‘hot’ investment market is making quality investment properties particularly difficult to find. This property was sold off-market. Griffith said, “As the commercial real estate market has tightened, we have seen more investment properties sold off-market.” Griffith represents investors with investment acquisitions in Utah and throughout the United States

Jason Griffith | Senior Vice President

Jason Griffith is a senior member and commercial-investment specialist at NAI Excel. He is a 22-year veteran in the St. George commercial real estate market. Jason has extensive experience in all aspects of commercial real estate, including: industrial, office, retail, consulting, investments, market analysis, project development and leasing.