SALT LAKE CITY-Kern Schumacher, a locally based industrial property owner and developer, has begun construction this week on more than two million square feet of industrial space, of which the first phase will be 507,000 square feet, resulting in an increase to his portfolio to nearly 10 million square feet in Utah, California and Nevada.
Freeport West Industrial Properties is the managing entity. Bradley J. Ross, Freeport West’s executive managing director, says that the company will build the space “because we see continued growth in industrial property development with companies that need to expand.” He adds, “Simply put, we believe in the economic strength of Utah, which Forbes named as the number one state in the country for business and growth."
With that confidence, Schumacher is moving forward on the project without commitments from potential tenants and has begun site work on the second phase, breaking ground on an additional 507,000 square feet in spring 2011. Upon completion, two buildings will follow shortly, adding an additional 2 million square feet to Utah's industrial market.
“Because of our product’s quality, we have a solid record of filling our buildings with highly rated tenants, and we expect this development will quickly see the same result,” says Ross.
According to Troy Schumacher of Arizona’s Camroad Properties, a Freeport West strategic partner, “We have Arizona tenants looking to expand into the Utah market place because of its location and distribution advantages. It’s a great position to offer solutions to their business property needs and provide them with high quality product.”
Targeting a completion date of July 2011, Salt Lake City-based Big-D Construction has started construction at 1525 S. 5070 W. “To continue our commitment to the environment, we will equip the property with environmentally sound components, including T5 lighting, skylights, and various other solutions to help preserve our planet,” says Mark DeWald, director of business development. “We are also exploring electronic car stations, which will conveniently recharge vehicles onsite.”
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