Colliers Brokers Sale of Riverwoods Business Park as Flagship Companies Acquires 185,000-SF Provo Office Campus
PROVO, Utah — Riverwoods Business Park, a three-building, approximately 185,000-square-foot office campus in Provo, Utah, has completed an ownership transition that ends more than three decades of stewardship at one of Utah County's most recognized commercial properties.
Brandon Fugal, John Monson, and Grant Lammersen of Colliers represented the seller, Six Ridge Partners — formerly known as Dakota Pacific — in the transaction. Summit Commercial Advisors represented the buyer, an investor group affiliated with Flagship Companies.
A Generational Transfer at a Utah County Landmark
Developed in the mid-1990s, Riverwoods Business Park has served as a cornerstone of Utah County's research and innovation corridor for roughly 30 years. The campus houses a mix of tenants that includes Qualtrics, Vivint, and UCCU.
The campus was originally envisioned by R. Duff Thompson and Dan Campbell of EsNet Group following the sale of WordPerfect Corporation to Novell. CFO Kevin Flanagan joined Thompson and Campbell in building out what became one of Utah County's signature office campuses.
For Fugal, who serves as Chairman of Colliers in Utah, the sale carries particular significance. His association with Riverwoods Business Park dates to the campus's groundbreaking.
"Riverwoods has served as the gateway to Utah County's only research park for over three decades. This transition marks a historic milestone," Fugal said. "Watching Riverwoods evolve alongside Utah County's remarkable growth has been incredibly rewarding, and we're proud to have launched the leasing efforts that shaped what it is today."
Colliers' Long-Term Role at the Property
Colliers guided ownership throughout the property's history as Riverwoods adapted to shifting tenant demand, evolving workplace expectations, and the disruptions brought on by the pandemic. The firm's ongoing advisory role helped position the campus for a seamless transition to new ownership.
The sale price was not publicly disclosed. No additional financial terms, including loan details or cap rate, were released in connection with the transaction.
Market Context: Office Assets at an Inflection Point
The Riverwoods transaction comes at a moment when owners of older, well-located office campuses are weighing their options as work patterns and tenant requirements continue to shift. Colliers' framing of the deal — emphasizing the campus's adaptation through "changing tenant demand" and "evolving workplace expectations" — reflects the broader pressures affecting suburban office assets.
The sale appears structured as a strategic exit following an extended holding period, moving the campus from Six Ridge Partners to an investor group affiliated with Flagship Companies, with Summit Commercial Advisors having guided the buyer through the process.
Transaction Details
The transaction was announced August 6, 2026. Colliers brokered the deal on behalf of Six Ridge Partners, with Brandon Fugal, John Monson, and Grant Lammersen leading the assignment. Summit Commercial Advisors represented Flagship Companies' affiliated investor group on the buy side. No financial terms were publicly reported.
Sources: Colliers — Riverwoods Business Park Transaction Announcement (Aug. 6, 2026)
