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West Valley City – 201 Commerce Center, Building 6 has broken ground in West Valley City. The new industrial listing is being overseen by the Salt Lake office of CBRE.
A joint-venture development between Clarion Partners and DLM Development, Building 6 is a 307,935-square-foot, Class-A, cross-dock, industrial building. It is the first building to break ground in the 1.2-million-square-foot planned industrial development. Construction is expected to be completed January 2015.
“New big-box industrial space has been in high demand for some time now,” said Tom Dischmann of CBRE. “Many new developments have commenced within Salt Lake County over the past couple of years, and there has been strong pre-leasing activity witnessed within those developments. The Salt Lake industrial market is experiencing low vacancy rates at 4.7 percent, and there is high demand for new industrial product—these are good indicators for developers to commence construction. Building 6 is a speculative development that offers a clear height of 32 feet and a cross-dock configuration, important features to today’s industrial tenant base.”
This new development is situated in West Valley City, a city that has been proactive in incentivizing new business entrants. The building has excellent exposure on the 201 Highway and sits near a variety of amenities, including retail, shopping and restaurants, as well as a 27-hole golf course.