The Phoenix-based developer purchased a 33-acre parcel in theSorenson Technology Park in Salt Lake City for $3 million. OpusWest plans to build a 275,000-sf warehouse/distribution building inthe first phase of the project.
"This will be our first spec industrial development in the SaltLake City area, and we believe the timing is right for a newproject," says David O'Donnell, senior real estate director forOpus West. "The demand for new distribution and warehouse space hasbeen very steady over the past three to four years. We think thatdemand will remain strong into the foreseeable future."
Construction is scheduled to begin in the fourth quarter, withcompletion expected by mid-year 2001. At build-out, the projectwill have 675,000 sf of warehouse and distribution space.
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