- Utah purchased FranklinCovey’s former headquarters for $40 million to house the Department of Health and Human Services.
- The 21.7-acre campus features five buildings totaling more than 300,000 square feet.
- Relocation for the agency could take several years, pending a study and funding approvals.
WEST VALLEY CITY — The state of Utah purchased the former corporate headquarters of FranklinCovey in West Valley City to serve as the future home of the state’s Department of Health and Human Services.
The $40 million deal closed in mid-July, according to county property records, but it’s expected to be several years before the agency is fully moved in to the new space. While the deal represents one of the largest recent commercial real estate transactions in the state, the selling price is well below what a similarly sized campus would cost to build today, according to Brandon Fugal, chairman of Colliers in Utah, which brokered the deal.
“Transactions like this are exceptionally rare, and properties of this caliber and operational readiness seldom become available for the state,” he said. “The cost of construction and land along the Wasatch Front, especially along key transportation corridors, has increased dramatically in recent years.”…