The development is set to be completed by the end of the year, with the health-care company expected to take occupancy in early 2023.
Medline has leased roughly 710,000 square feet at 264 S. 5750 West, an industrial development in Salt Lake City. The property is expected to be delivered by the end of the year. Cushman & Wakefield worked on behalf of both the tenant and the landlord. Property Reserve is the owner and developer of the project, according to CommercialEdge.
The distribution space will feature 113 dock doors, 40-foot clear heights, 251 trailer parking spots, as well as 383 parking spots for employees. Situated on a 41-acre lot, the new industrial property will be close to interstates 80 and 215, 4.9 miles from Salt Lake City International Airport and 8.4 miles from downtown Salt Lake City.
The health-care company outgrew its 250,000-square foot distribution center in the metro and is set to occupy the new property in the first quarter of next year.
Cushman & Wakefield Executive Managing Director J. Frank Franzese, Managing Director Steven Bauer, Brokerage Specialist Noelle Cuningham, together with Director Gina Moore, worked on behalf of the tenant, while the company’s Vice Chairman Tom Freeman and Executive Managing Director Travis Healey represented the owner of the asset.
Earlier this year, Cushman & Wakefield assisted ViaWest on an acquisition in the same metro. The company entered the Salt Lake City industrial sector with the purchase of an 18-acre development site where it plans to build a 171,600-square-foot Class A speculative facility.
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