88,000-SQUARE-FOOT OFFICE PURCHASE IN SALT LAKE’S SOUTH VALLEY AREA

DRAPER, UTAH — San Francisco-based Maier Siebel Baber (MSB) has purchased the 88,000-square-foot Lone Peak Center, located at 11747 Lone Peak Pkwy. in Draper, from M & I Regional Properties LLC. Terms of the deal were not disclosed. MSB plans to reposition the property, which is situated on the border of Draper and South Jordan in the midst of a rapidly growing concentration of tech firms and banking-support centers. Transwestern has been selected to manage the property. The first two leases — a full floor to O'Currance Teleservices and a 9,000-square-foot commitment by Xennsoft — are complete, with both tenants scheduled to take occupancy in early 2011.