(SALT LAKE CITY) – Hines, the international real estate firm, announced today that Plaid, the financial technology company, has signed a lease for more than five years and 17,493 square feet at The Kearns Building, a 10-story, 164,043-square-foot office building located on Main Street in downtown Salt Lake City. This new engineering hub will be the technology firm’s first office in the Salt Lake City area, and they will occupy the top floor.
Other notable tenants at The Kearns Building include Bolt; Dash 2 Group; EveryoneSocial; Grandeur Peak Global Advisors; Morgan, Minnock, Rice & James LC; and the University of Utah.
Hines Senior Managing Director Dusty Harris said, “We are proud Plaid has chosen The Kearns Building for their new office space. Adding a tenant of their caliber to our roster is an honor for the firm, and we are excited to start our long-term relationship with them.”
“Plaid is excited to lay down roots in the heart of Salt Lake City’s downtown district,” said Kira Booth, software engineering manager at Plaid. “We’re proud to call the Kearns Building our new home and look forward to continuing to grow our team and Plaid’s presence in Salt Lake City.”
Hines was represented by Tab Cornelison and Nadia Letey with CBRE while Plaid was represented by Jami Marsh with JLL.
Named for Thomas Kearns, a prominent Utah businessman and U.S. Senator, the building was designed to reflect his style and taste in architecture. Hines acquired the building in 1988 and oversaw the renovation and restoration of the property. The building features newly renovated electrical, plumbing, HVAC systems, elevators, lobby & common areas. Built in 1911, the building is listed on the National Register of Historic Places.
Plaid is a data network powering the fintech tools that millions of consumers have come to rely on to live healthier financial lives. Thousands of digital financial services like Acorns, Betterment, Coinbase, and Venmo, use Plaid to make it easy for their customers to connect to their bank and investment accounts, regardless of where they bank. The company is headquartered in San Francisco, CA.
CBRE Group, Inc. is the world’s largest commercial real estate services and investment firm, with 2013 revenues of $7.2 billion and approximately 44,000 employees (excluding affiliate offices). CBRE is the only firm in its sector to be included in the Fortune 500, ranking #363 in 2014. It also has been voted the industry’s top brand by the Lipsey Company for 13 consecutive years, and has been the highest-ranked commercial real estate services and investment firm in Fortune’s “Most Admired Companies” program for four years in a row. Its shares trade on the New York Stock Exchange under the symbol “CBG.” Please visit our Web site at www.cbre.com.
Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 214 cities in 24 countries. Hines has approximately $120.6 billion of assets under management, including $66.5 billion for which Hines provides fiduciary investment management services, and $54.1 billion for which Hines provides third-party property-level services. The firm has 128 developments currently underway around the world. Historically, Hines has developed, redeveloped or acquired 1,348 properties, totaling over 444 million square feet. The firm’s current property and asset management portfolio includes 512 properties, representing over 223 million square feet. With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to sustainability, Hines is one of the largest and most-respected real estate organizations in the world. Visit www.hines.com for more information.