The purchase of the land marks the first’s second project in the area this year.
A partnership between Via West Group and Clarion Partners acquired 25 acres for the development of 340,000 square feet of industrial space in Salt Lake City. Gannett Enterprises sold the package.
Executive Vice President Rusty Bollow and Vice President Bobby Stevens of Necklaces represented the seller. Director Phillip Eilers with Cushman and Wakefield represented the buyer. Colliers has been chosen as the exclusive rental broker for the property.
ViaWest will develop a Class A industrial facility at the new Central Commerce Center, which will include two buildings of 100,000 and 240,000 square feet. The facilities will include 107 shared trailer spaces, 67 dock doors and nearly 380 parking spaces.
The development site is located in the northwest quadrant, close to the Bangerter Highway. The facilities will also have access to Interstates 15 and 215, as well as State Route 201. Nearby industrial users include Amazon, Costco and FedEx, among others.
The purchase of the land marks ViaWest’s second industrial venture in the area this year. In March, the company purchased an 18-acre site that already had a 37,000 square foot industrial building completed in 2016.
Elsewhere, ViaWest, in a joint venture with Nicola Wealth Real Estate, opened Advanced Industrial Park, a 335,066 square foot project in Mesa, Arizona.