Site Is in One of The Country’s Fastest Growing Areas with One of The Strongest Economy And Provides Easy Access to The Crossroads of America
SALT LAKE CITY, Dec. 12, 2024 /PRNewswire/ — VanTrust Real Estate today announced the acquisition of 32 acres, located at 5998 West Parkway Blvd, in West Valley City, Utah, to build four industrial warehouse buildings.
The site’s prime location offers easy access to the “Crossroads of America” – a network of interstates, local highways, roads and rail lines that converge in Utah’s capital city area. The site is located just south of State Route 201 and west of Mountain View Corridor. It is also near the Salt Lake City International Airport, Interstate 80, Interstate 15, and the Union Pacific Railroad intermodal hub.
The site will accommodate four buildings that will provide 600,000 square feet of new Class A industrial space to this growing logistics area. According to Tom Freeman and Travis Healy of Colliers, the leasing team VanTrust has hired to market the buildings, there is consistent demand for space in this area due to its strategic position in the Salt Lake Valley, and because the area is one of the fastest growing and has one of the strongest economies in the country.
“We are thrilled to have acquired this advantageously located site on which to build new industrial warehouses,” said Chris McCluskey, VanTrust’s Executive Vice President of Development for Salt Lake City. “One of our specialties at VanTrust is industrial properties, and we are excited to add this tremendous location to our portfolio.”
VanTrust anticipates construction on the first two buildings will start in late spring 2025 and deliver late spring 2026. Construction timing on the second two buildings is still to be determined. Specific tenants for the warehouses have not yet been identified.
Since its inception in 2010, VanTrust has experienced rapid growth. The full-service real estate development company is based in Kansas City, with offices in Columbus, Dallas, Phoenix, Jacksonville, and Salt Lake City. VanTrust has developed more than 68 million square feet of office, industrial, multifamily, science + technology, and mixed-use development. The company has more than $7 billion of product nationwide.
About VanTrust Real Estate
VanTrust Real Estate, LLC is a full-service real estate development company. The company acquires and develops real estate assets for the Van Tuyl family portfolio and offers a broad range of real estate services including acquisition, disposition, development, development services, corporate services, and asset enhancement. Product types include office, industrial, multifamily, mixed-use and science + technology. VanTrust works nationally with regional offices in Columbus, Dallas, Phoenix, Jacksonville and Salt Lake City with its headquarters in Kansas City, Missouri. For more information, visit www.vantrustre.com.
SOURCE VanTrust Real Estate
