GO Industrial and A Real Estate Fund advised by Crow Holdings Capital Commence Construction on 5600 logistics
Salt Lake City — The Salt Lake City office of CBRE has announced that construction has commenced on 5600 Logistics, a new Class A industrial development in Salt Lake City’s Northwest Quadrant. The project is being developed via a joint venture between GO Industrial and a real estate fund advised by Crow Holdings Capital. Matt McAfee, Chris Liddell, Tom Dischmann, and Jeff Richards of CBRE will oversee leasing for the project.
Consisting of more than 505,000 square feet, 5600 Logistics is a two-building development underway at 1456 South and 1576 South 5500 West. The project is situated on approximately 28 acres of land and is just minutes from the Union Pacific Intermodal Hub and Salt Lake International Airport. It also provides immediate access to Interstate 80, Interstate 15, and Highway 201, which are key distribution arteries.
“5600 Logistics is located on one of the best remaining, developable land sites in the Northwest Quadrant, and is well-positioned to take advantage of current economic conditions,” noted Matt McAfee, first VP. “Utah’s industrial market is experiencing some of the lowest vacancy rates and highest demand in its history. With an expected completion date of August 2022, 5600 Logistics will be in a strong position to help meet the market’s elevated demand levels for Class A industrial product.”
The project is currently in its first phase of development, with the slab recently completed on the first building and footings completed on the second building. For more information about the project and developers, please visit https://goindustrial.net/ and https://www.crowholdings.com/chc.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2020 revenue). The company has more than 100,000 employees serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction, and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services, and development services. Please visit our website at www.cbre.com.