GO Industrial, a firm focused on delivering design-centric buildings with a location-first strategy throughout the Southwest, recently completed the sale of the two-building 5600 | Logistics campus in Salt Lake City, Utah. The two, Class A buildings total 505,692 square feet and are located in a prime area just south of Salt Lake City International Airport.
CBRE | National Partners negotiated the shell forward deal on behalf of GO Industrial in partnership with a real estate fund advised by Crow Holdings Capital. The buildings are located at 1464 and 1568 S 5500 West in Salt Lake City. The buildings are in the growing California Avenue industrial submarket, which has seen rents grow 14.6 percent year-over-year and demand has driven vacancy rates to 3.0 percent.
“Our conviction in the Salt Lake City market, the project’s location and the Class A product we delivered all came to a head as we sold this deal to a large institutional fund,” said Robert Guerena, Managing Partner of GO Industrial. “We continue to look for new industrial development opportunities in the region where we can continue to build industrial product that meets the needs of tomorrow’s tenants and investors.”
5600 | Logistics is just minutes from the Union Pacific Intermodal Hub and SLC International Airport. It is situated in an area with immediate access to three key truck routes, Interstate 80, Interstate 15 and Highway 201. Layton Construction’s National Building Group recently completed the project, which was designed by local architectural firm AE Urbia. The leasing brokers are the CBRE team of Chris Liddell, Tom Dishman and Matt McAfee.
Building A at 5600 | Logistics sits on 14.97 acres and is 265,120 SF with 32 feet clear heights. There are 50 dock-high doors and 4 grade-level doors along with ample employee parking (177 spaces) and 72 trailer parking spaces. Building B is on 13.26 acres and is 240,654 SF with 32 feet clear heights. There are 46 dock high doors and 4 grade-level doors, with 159 employee parking spaces and 62 trailer spaces.