The land purchase marks the former’s second project in the area this year.
A partnership between ViaWest Group and Clarion Partners has acquired 25 acres for the development of 340,000 square feet of industrial space in Salt Lake City. Gannett Enterprises sold the parcel.
Executive Vice President Rusty Bollow and Vice President Bobby Stevens of Colliers represented the seller. Director Phillip Eilers with Cushman & Wakefield represented the buyer. Colliers was chosen as exclusive leasing brokerage for the property.
ViaWest will develop a Class A industrial facility at the new Central Commerce Center, which will comprise two buildings of 100,000 and 240,000 square feet. The facilities will feature 107 shared trailer spaces, 67 dock doors and nearly 380 parking spaces.
The development site is located in the Northwest Quadrant, close to Bangerter Highway. The facilities will also have access to interstates 15 and 215, as well as State Route 201. Industrial users in the surrounding area include Amazon, Costco and FedEx, among others.
The land purchase marks ViaWest’s second industrial endeavor in the area this year. In March, the company bought 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, broke ground on Advanced Industrial Park, a 335,066-square-foot project in Mesa, Ariz.
