SLtrib article:
Developer unveils plans for 24-story Salt Lake skyscraper
http://www.sltrib.com/sltrib/money/56945533-79/main-salt-building-office.html.csp
111 Main » Next to Utah Performing Arts Center, it will house Class A office space and likely a white-cloth eatery.
There is no "magic number" for pre-leased occupancy, said leasing broker Chris Kirk, senior director of office & investments for Cushman & WakeField, but he feels confident that the industry standard commitment of 50 percent can be achieved soon and that they will break ground in 2014, with an eye toward opening in early 2016.
Bingham says they have already had formal inquiries that would account for 40 percent of the building’s space.
Kirk thinks the timing is excellent.
While 222 Main, which now features an occupancy rate of 85 percent, Kirk said, was built right during the depths of recession, today’s growing market is encouraging businesses to consider expansion or a move from suburban locations to downtown.
the building popularly known as the Montgomery Ward Building sits unoccupied after its final tenant, Bennion Jewelers, moved to 15 W. South Temple on Monday. Hamilton Partners is negotiating to finalize the purchase of the site, Bingham said.