One of Utah's largest commercial real estate properties in the Silicon Slopes was purchased last year and rebranded as Triumph Center.
According to CoStar data, Triumph Center, formerly known as Thanksgiving Station, spans 747,236 square feet, or 34 acres, across five Class A office buildings in Lehi, Utah. X Development, a Utah-based real estate investment and development firm, purchased it in September 2025. Data shows that at the time of the sale, the property was at 95% occupancy.
"The name 'Triumph Center' embodies momentum, resilience and forward progress — qualities that define Utah’s economic story and X Dev’s approach to real estate investment," the company said in a press release announcing the acquisition. "The rebrand marks the beginning of an extensive repositioning effort to elevate the campus into Utah County’s flagship corporate destination."
Triumph Center is a central campus for the local workforce. Each building features flexible layouts that support hybrid-work models. The campus also includes onsite fitness centers, outdoor amenity spaces such as basketball and pickleball courts and landscaped courtyards. The campus is directly off a major interstate and provides easy travel to Salt Lake City and Provo.
The campus is home to various tenants, including technology firms and financial services. One of the structures, Building 5, is a new 150,000-square-foot property with floor-to-ceiling glass, an on-site gym, lockers and bike storage.
The transaction’s size and subsequent rebranding were key factors in the sale earning a CoStar Impact Award, as judged by regional real estate experts.
About the project: Starwood Capital Group sold the five-property office park to X Development for an undisclosed price.
What the judges said: "This sale of Class-A properties add to the momentum of office recovering and seeing upside. This transaction as well as others shows the strength of Utah's market and sets a benchmark for more sales that are currently on the market," said Jordan Johnson, a senior commercial leasing manager with Property Reserve.
They made it happen: Cole Macadaeg, vice president at CBRE; Phil Brierley, vice president at CBRE; and Eli Hutt, investment sales analyst with CBRE, were the buyer-brokers of the sale. Bryce Blanchard, vice chairman, and Steve Walton, senior investment adviser with Newmark Mountain West, also lent their expertise to the transaction. X Development took ownership under principals Steve Hutchings and Eric Towner.