Provo Airpark Building 1

Provo Airpark Building 1 is a Class A flex and light-industrial building planned for Center Street at Lakeview Parkway in Provo, Utah, offered through HRZN Fund 1. The design calls for roughly 97,720 square feet across 13 suites with a 28-foot clear height, the format small and mid-sized industrial users in Utah County compete for.

The project is modeled at an all-in cost of $19.50 million, funded by a $14.42 million loan, $2.42 million in conditional credits, and a $2.65 million new cash raise. The pro forma assumes $1.20 per square foot in monthly triple-net base rent, 97% stabilized occupancy, and a 6.25% exit cap rate over an 18-month hold, for a projected 23.13% LP IRR and a 1.37× LP multiple. Investors receive a return of recognized capital first, followed by an 80% LP / 20% GP split of net profit; there is no preferred return.

Projections come from the current pro forma and design package; they are estimates, not guarantees, and capital is at risk. Offers are made only through official offering documents.