Provo Town Square
Mixed Use | 89,951 SqFt
Marketing description
Provo Town Square (PTS) is an 89,951-square-foot retail and office building located in the heart of downtown Provo, Utah, presenting a compelling opportunity for value-add investors. Strategically positioned along the city’s primary thoroughfares and within close walking distance to Brigham Young University, the 2.21-acre property is currently 69% leased and offers immediate upside through lease-up and rent growth. Recent capital improvements have enhanced the building’s appeal, including modernized tenant suites, upgraded common areas, and preserved historic architectural details that maintain its unique character. A three-story on-site parking structure supports both tenant and visitor convenience—an uncommon amenity in the downtown core.
Provo Town Square is located in the Provo-Orem metro area, which has been ranked the #1 "Best Performing City" for three consecutive years by the Milken Institute due to its strong job growth, wage increases, and rapidly expanding high-tech sector. The property’s central location drives consistent foot traffic and positions it to attract a wide range of retail and office tenants seeking visibility, accessibility, and strong community presence in one of Utah’s most economically dynamic and institutionally anchored markets.
Investment highlights
Downtown Provo Location with Exceptional Visibility
Located in the vibrant heart of downtown Provo, Provo Town Square offers unbeatable visibility along the city's main corridor and is just steps from Brigham Young University. Surrounded by top-tier retail, cultural destinations, and a thriving pedestrian scene, the property sits in one of the nation’s highest-performing markets—driving sustained tenant demand and long-term rent growth.Virtual Tour
Extensive Capital Improvements Completed
Recent upgrades at Provo Town Square include modernized tenant suites, refreshed common areas, and enhanced onsite amenities—all while preserving the asset’s historic character. These improvements elevate the property's appeal, attract quality tenants, and support leasing momentum at premium market rents.
Located in Utah's Top Economic Growth Corridor
Provo Town Square is positioned at the core of the Provo-Orem metro—ranked #1 by the Milken Institute for job growth, wage gains, and tech sector performance. This thriving economic environment draws a dynamic mix of tenants and supports long-term revenue stability and upside for investors.
Rare Redevelopment Potential: Mixed-Use Residential Tower
Backed by “by-right” zoning and city support, PTS offers a rare opportunity to redevelop the existing 3-story parking structure into a mixed-use residential tower up to 160 feet. With rising housing demand and limited urban supply, this project could significantly boost long-term value and diversify income in a high-growth, supply-constrained market.
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