DRAPER, UTAH — Lone Peak Center, an 87,672-square-foot office building in Draper, has received $14.5 million in refinancing. The center is located at 11747 Lone Peak Parkway, just 20 miles south of Salt Lake City. The proceeds were used to pay off existing senior debt, among other uses.
Lone Peak was built in 2007. It is currently 99 percent leased. The building serves as one of nine global customer service support centers for EMC Corporation, the world’s largest provider of data storage systems. It is also the corporate headquarters for O’Currance, a direct response telesales service provider.
The center’s original developer, DBSI Group of Companies, experienced bankruptcy liquidation in 2010. The sponsor, a San Francisco-based real estate investment and asset management firm, purchased the REO property from M&I Bank, which is now BMO Harris. Financing was provided by Thorofare Capital.