VanTrust Real Estate, a Kansas City, Missouri-based real estate development company with a regional office in Salt Lake City, has acquired 32 acres in West Valley City, where it plans to build four industrial warehouse buildings.
The site, near railroads, interstate highways and other transportation access, will accommodate four buildings that will provide 600,000 square feet of new Class A industrial space, according to a VanTrust announcement. According to Tom Freeman and Travis Healy of Colliers, the leasing team VanTrust has hired to market the buildings, there is consistent demand for space in this area due to its strategic position in the Salt Lake Valley, and because the area is one of the fastest growing and has one of the strongest economies in the country.
“We are thrilled to have acquired this advantageously located site on which to build new industrial warehouses,” said Chris McCluskey, VanTrust’s executive vice president of development in its Salt Lake City office. “One of our specialties at VanTrust is industrial properties, and we are excited to add this tremendous location to our portfolio.”
VanTrust anticipates construction on the first two buildings will start in late spring 2025 and be ready for delivery one year later. Construction timing on the second two buildings is still to be determined. Specific tenants for the warehouses have not yet been identified.
In addition to its Kansas City headquarters and Salt Lake City office, VanTrust has regional offices in Columbus, Ohio; Dallas; Phoenix; and Jacksonville, Florida. VanTrust has developed more than 68 million square feet of office, industrial, multifamily, science and technology and mixed-use development. The company has more than $7 billion of product nationwide.