ViaWest Group, along with Clarion Companions, has commenced building on Central Commerce Middle, an roughly 340,000-square-foot, two-building industrial growth in Salt Lake Metropolis. Colliers has been tapped as unique leasing agent for the venture, whereas Large D Building is the final contractor.
In late 2023, Principal Monetary Group originated a $37 million building mortgage with a maturity date set for December 2028, in line with Salt Lake County public data.
Plans at Central Commerce Middle name for 2 buildings, the primary encompassing 96,788 sq. ft and the opposite at 243,057 sq. foot, situated at 4105 and 4209 W. Central Ave. The primary will embody 26 dock-high doorways and three grade-level doorways whereas the second is slated to have 44 dock-high doorways and 4 grade-level doorways. Moreover, each services are designed to realize LEED certification and have a complete of 56 trailer parking spots.
The 25-acre industrial venture will provide quick access to interstates 15, 80 and 215, in addition to to Utah State Route 201. The positioning is 3 miles from Salt Lake Metropolis Worldwide Airport and 11 miles from South Valley Regional Airport, in addition to inside 20 miles of South Jordan, Utah.
Colliers Government Vice President Rusty Bollow, Vice President Bobby Stevens and Senior Affiliate Andrew Bell will market the property for lease. ViaWest Group Market Chief Tom Glissmeyer said in ready remarks that the event is taking form within the coronary heart of the market’s Northeast Quadrant, and its completion is timed to handle a substantial provide lower within the space.
Salt Lake Metropolis’s industrial pipeline
In keeping with a Salt Lake County industrial report by Colliers, 2.3 million sq. ft of commercial area was delivered in 2023, whereas the metro’s under-construction pipeline reached 4.9 million as of the fourth quarter. The North West submarket led in growth by far, with a whopping 78 p.c of building begins occurring there.
One other important industrial venture coming to Salt Lake Metropolis is Riverbend Administration’s 309,389-square-foot warehouse inside Copper Crossing @ I-80. The developer secured $112 million in credit score tenant lease and gear financing, retiring a building mortgage and changing the not too long ago accomplished property to manufacturing.