Salt Lake City— 25 acres of land, located in Salt Lake City’s core Northwest Quadrant and directly adjacent to Bangerter Highway, the Core Utah industrial site, was sold to a partnership between ViaWest Group and Clarion Partners. Colliers’ Rusty Bollow and Bobby Stevens represented the seller, Gannett Enterprises. Phillip Eilers with Cushman and Wakefield represented the buyer.
“One would be hard-pressed to find a more well-located development site than the new Central Commerce Center, positioned within minutes of the remodeled Salt Lake City International Airport, I-80, I-15, downtown Salt Lake City, and the Intermodal Hub,” says Bollow, EVP at Colliers.
The acquisition represents ViaWest Group’s continued expansion into the Salt Lake City market and second industrial development this year in the area. “We are thrilled to continue our expansion in the dynamic Salt Lake industrial market,” says Tom Glissmeyer, Mountain West Market Leader at ViaWest. “The Class-A facilities we plan to develop at this prime, infill location will meet the needs of today’s logistics and distribution users.”
Payson MacWilliam, SVP at Clarion Partners says, “We look forward to expanding our presence and deepening our local relationships in the Salt Lake market.”
With the acquisition, ViaWest will develop and introduce over 340,000 square feet of Class-A industrial space to the market, comprising two buildings of 100,000 and 240,000 square feet. The future planned development will offer direct access to I-15, I-215, and SR-201 with building features including highway visibility, 107 shared trailer spaces, 67 dock doors, and nearly 380 parking spaces. Colliers will serve as the exclusive leasing brokerage for the new facilities.