North American Title opens commercial office in Salt Lake City

    3/28/2016 2:51:31 PM
    SALT LAKE CITY – March 28, 2016 – To support the city’s brisk commercial activity driven by new business expansion and growing employment, North American Title has opened a commercial-only office in downtown Salt Lake City’s Wells Fargo Center at 299 South Main Street.
    “Salt Lake City’s reputation as the new ‘Silicon Valley’ has amplified its long-held reputation as the ‘Wall Street of the West,’ with businesses flocking to take advantage of the city’s educated and motivated workforce, as well as its more affordable rents,” said Michael Lewis, senior vice president, state manager, North American Title.
    Recent research by JLL, a real estate services firm, has focused on Salt Lake City as one of several secondary U.S. cities where office markets are “turning heads” for their strong talent, affordable space and investment opportunity.
    In its winter 2016 report on up-and-coming real estate markets, JLL said Salt Lake City’s non-farm employment continues to outpace the national rate – seeing a 3.7 percent growth rate over the past 12 months versus the U.S. rate of 2 percent. It noted the expansion of the tech sector, which has experienced a 25 percent increase in employment in the last five years. In addition, finance continues to be a significant player in the local economy, with a 4 percent uptick in occupancy expected for 2016. Overall, JLL expects strong tenant demand and the limited availability of space in the Salt Lake City metropolitan area – despite its “hot” development pipeline – should result in additional build-to-suit and speculative projects.
    “Our ability to offer a strong commercial presence in the city will be enhanced by this new office located on the 20th floor of Salt Lake City’s tallest commercial center, staffed by experienced personnel who will provide these specialized escrow and title services,” added Lewis.
    A 40-year title industry veteran, Lewis will be moving to the new office, which will be led by Justin Scott, branch manager and senior commercial escrow officer.
    Scott has 17 years’ experience in the title and real estate industry and has closed commercial transactions ranging to well over $100 million. Working as a commercial escrow officer throughout Utah, his customer base has included private wealth managers, commercial lenders, developers and local and state governments. Scott is a graduate of the University of Utah David Eccles School of Business.
    Assisting Scott on commercial transactions will be P. David Dickard, vice president, regional underwriting counsel for North American Title’s affiliated underwriter, North American Title Insurance Co. Dickard has over 30 years’ experience in underwriting, title insurance, escrow, claims, regulation and management. He is a graduate of the University of Texas at Austin and the South Texas College of Law. Dickard is also very experienced at working with other national title underwriters in large commercial transactions. North American Title is an independent title agency that offers underwriting flexibility to serve the needs of its commercial customers.
    Also assisting Scott will be Ruth Rubel, who has more than 30 years of experience, most notably as a senior commercial escrow officer in a large national title company’s commercial services group in Boise, Idaho. Rubel has closed transactions across the country, handling sales and acquisitions of multi-tenant strip malls and retail, hospitality, entertainment and industrial properties for well-known national customers.
    Thomas Harper will also be joining the office as sales manager.
    The North American Title commercial office is located at 299 South Main St., Suite 2070, Salt Lake City, UT 84111, telephone number (801) 596-2037.