The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
December 6, 2022
 Search RENTV
   Go!
 The REview
 News
News Home Page
Southern California
Northern California
Pacific Northwest
Texas/Southwest
Retail
Multifamily
Financing
Prop. Management
Archives
Press Releases
 R. E. Marketplace
Service Providers
JobWorks
Property Spotlight
 RENTV  Conferences
Subscriber Login:
  
Email      
    Go!
Password      
Forgot Password?



ETC... ETC...
Printer-friendly Version   Email an Associate
ViaWest Group Starts Work on 173k sf Spec Warehouse in Salt Lake City

10/18/22

ViaWest Group has broken ground on a new 172.8k sf Class A spec warehouse building in Salt Lake City, UT. Known as 5 South Commerce Center, the new development is scheduled for completion in the second quarter of 2023.

Marking its entry into the Salt Lake City industrial market, ViaWest Group acquired the 18-acre site in early 2022, subsequently subdividing it to create a separate 11-acre parcel on which the new warehouse building will sit. The remaining seven-acre parcel contains an existing, modern 37k sf industrial building constructed in 2016 with roughly three acres of secure, paved storage yard.

The building will be divisible to 57.6k sf and features a 2.5k sf spec office suite plus additional office space to-suit. Other key features include 32’ clear height, 56’ x 54’ column spacing, 35 dock high doors, four grade-level doors, ESFR sprinkler system, 146 car parking stalls, ample power, clerestory windows, as well as a paved and fenced outdoor storage yard.

Located at 3175 West 500 South in a heavy industrial-zoned area (M-2), the new building is convenient to multiple logistical freeway routes including Interstates 80, 215, 15 and SR 201 as well as the Mountain View Corridor, a key local corridor for manufacturing and distribution. It is also close to the expanded and renovated Salt Lake City International Airport—currently undergoing a $4.1 bil phased expansion scheduled for full completion by 2025. Downtown Salt Lake City is also within a few miles of the property.

Cushman & Wakefield’s Phillip Eilers, Jon Schreck and Rick Newton are handling project leasing efforts.

According to Cushman & Wakefield’s Q2-2022 report, Salt Lake City’s overall industrial market vacancy stood at just 2.3% at midyear. The average asking rent was $0.71 per square foot per month on a triple net basis, up 23.6% year-over-year. Tenants absorbed approximately 4 msf market-wide in the first half of 2022, slightly outpacing the record-setting 7.7 msf of annual absorption in 2021 per the firm’s tracking.





Return to the Archive page


 


 


 
 
 



Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2022 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media