Security National Financial Corporation Acquires Office Building
SALT LAKE CITY -- April 29, 2013
Security National Financial Corporation (NASDAQ symbol “SNFCA”) announced
today the acquisition of a two story commercial office building located at
5201 South Green Street in Murray, Utah. The building is approximately 40,000
square feet of office space, which is currently 75% vacant. With comparable
office space in the immediate area at approximately 85% occupancy, the Company
believes the financial outlook for the property is very positive.
The Company believes the attractive location of the office building and the
expanding commercial growth in the Greater Salt Lake Area are contributing
factors to the anticipated success of the office building in obtaining a
competitive occupancy rate in the near future. The property may be used for
expansion of the Company’s existing operations, relocation of current tenants
or rented at favorable market rates. This acquisition adds to Security
National’s nearly 20 acres of office and land holdings in the immediate area,
and will be part of an anticipated redevelopment project at a future date.
Garrett Sill, Acting Chief Financial Officer of SNFC, noted: “We are very
pleased that we were able to acquire this building and land which is adjacent
to our corporate offices. This purchase gives the company additional frontage
on I-15 and increases our land holdings in this area by almost 15%. This area
of the Salt Lake Valley is seeing economic growth, and we are confident in our
ability to lease the vacant office space and achieve an acceptable yield on
This press release contains statements that, if not verifiable historical
fact, may be viewed as forward-looking statements that could predict future
events or outcomes with respect to Security National Financial Corporation and
its business. The predictions in these statements will involve risk and
uncertainties and, accordingly, actual results may differ significantly from
the results discussed or implied in such forward-looking statements.
Security National Financial Corporation
Brian Nelsen or Garrett S. Sill, 801-264-1060
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