SALT LAKE CITY-After some very quick lease negotiations Sun Product Corp. last month moved into 409,374 square feet of speculatively built distribution space at Westport Distribution Center, an eventual 1.5-million-square-foot development here by Buzz Oates Group of Cos., a Sacramento-based firm with a 20 million square-foot management portfolio in California, Utah and Texas. Sun Product Corp. is result of last year’s a merger of locally based Huish Detergents and the North America laundry business of Unilever. Buzz Oates’ Chief Investment Officer Kevin Ramos tells GlobeSt.com that is broke ground for the building last summer and completed it in March. Buzz Oates and Sun agreed to a deal in principal in late February and finalized the 10-year commitment concurrent with $2.50 per square-foot of tenant improvement work.

“It’s an overall expansion of their presence in the market,” Ramos says. “They were in three or four different warehouses in the area.”

Ramos declined to discuss the negotiated lease rate and the tenant’s broker, Michael Falk of NAI Utah, was not immediately available Monday afternoon for comment. Other local brokers tell GlobeSt.com that market lease rates for larger, longer-term distribution deals in new buildings in Salt Lake are typically $0.33- to $0.35 per square foot per year, NNN.

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