GSA Building
News
![](https://meriwetherpartners.com/wp-content/uploads/2024/01/592dfdfa5c59f5231c5ffc82_gsa-building-p-2000-1024x496-1.webp)
![Meriwether Partners Meriwether Partners](https://meriwetherpartners.com/wp-content/uploads/2022/01/591e21d164697b56d76e150f_bevel_top-left-svg.png)
Salt Lake City, UT
118,000 square foot office building
![Meriwether Partners Meriwether Partners](https://meriwetherpartners.com/wp-content/uploads/2022/01/591e21f0e8597c09807162a0_bevel_bottom-right-svg.png)
Meriwether acquired the GSA Building in February 2003 from a bankrupt owner. The single-story office buiding was 100% leased on a long-term basis to the GSA. At the time of acquisition, the building suffered from virtually non-existent property management which resulted in deferred maintenance and poor tenant relations. After improving tenant relations by hiring an on-site property management staff, making cosmetic improvements to the building, and lowering operating costs, Meriwether sold the building in August 2005 to a private investors generating an IRR of 23.8% and an equity multiple of 1.64x.
![Meriwether Partners Meriwether Partners](https://meriwetherpartners.com/wp-content/uploads/2022/01/591e21d164697b56d76e150f_bevel_top-left-svg.png)
Salt Lake City, UT
118,000 square foot office building
![Meriwether Partners Meriwether Partners](https://meriwetherpartners.com/wp-content/uploads/2022/01/591e21f0e8597c09807162a0_bevel_bottom-right-svg.png)
Meriwether acquired the GSA Building in February 2003 from a bankrupt owner. The single-story office buiding was 100% leased on a long-term basis to the GSA. At the time of acquisition, the building suffered from virtually non-existent property management which resulted in deferred maintenance and poor tenant relations. After improving tenant relations by hiring an on-site property management staff, making cosmetic improvements to the building, and lowering operating costs, Meriwether sold the building in August 2005 to a private investors generating an IRR of 23.8% and an equity multiple of 1.64x.