Ground broken on major Northwest Quadrant industrial center project
ViaWest Group, a Phoenix-based commercial real estate developer, and New York City real estate investment firm Clarion Partners have broken ground on the Central Commerce Center project in Salt Lake City’s Northwest Quadrant. Big-D Construction has been chosen as the general contrator for the project and Colliers will lead the development’s marketing and leasing.
Located near 4100 West and 700 South, Central Commerce Center will consist of two LEED-certified industrial buildings totaling approximately 340,000 square feet on 25.11 acres.
“The addition of the Central Commerce Center will complement Salt Lake City’s industrial and manufacturing core in the Northwest Quadrant, offering LEED-certified facilities that support economic growth and environmental quality,” said Salt Lake City Mayor Erin Mendenhall at a groundbreaking ceremony. “Efficient development like Central Commerce Center helps ensure the city’s industrial network is sustainable and prepared to operate for generations, supporting both workers and residents.”
“Central Commerce Center is not only uniquely located geographically in the heart of the Northwest Quadrant, but will be delivering at a unique moment in time when new constuction supply has dropped off significantly compared to recent years,” said Tom Glissmeyer, market leader for ViaWest Group. “Fundamentals have remained solid, indicating what we all know, that Salt Lake is a very durable market. We are excited to deliver this first-class project, and will continue to look for new opportunities.”
“We are thrilled to be part of this groundbreaking endeavor,” said David Witham, Clarion Partners’ vice president of asset management. “Central Commerce Center represents an opportunity to enhance the fabric of Salt Lake City’s industrial community, offering modern, sustainable spaces that meet the evolving needs of businesses in the region.”
“We are proud to facilitate the realization of Central Commerce Center,” said Rusty Bollow, executive vice president at Colliers. “This project will catalyze economic development, job creation and community enrichment in Salt Lake City.”