VanTrust Real Estate Expands Operations with New Industrial Facilities
Strategic Acquisition by VanTrust Real Estate
Site In One Of The Country's Fastest Growing Areas with a Robust Economy and Provides Easy Access to Major Transportation Networks
VanTrust Real Estate has recently announced an exciting development: the acquisition of 32 acres for constructing four new industrial warehouses. This site, strategically located, is poised to leverage the continuous growth of logistics in an area recognized as one of the fastest-growing economies in the country.
Location Insights and Benefits
The chosen site offers unparalleled access to the "Crossroads of America," a well-connected network of interstates, highways, and rail lines. Its proximity to several major routes, including State Route 201 and Mountain View Corridor, positions it conveniently south of these thoroughfares. Additionally, its closeness to the Salt Lake City International Airport and key interstates enhances its logistical appeal.
Infrastructure Details and Future Plans
The planned industrial complex will span 600,000 square feet, modernizing the area with Class A industrial space. According to the leasing team from Colliers, there is a growing demand for such spaces, attributed to the area's strategic location within the Salt Lake Valley. Notably, this region has previously showcased resilience and growth potential, further proving its worth as a logistics hub.
Statements From VanTrust Officials
Chris McCluskey, Executive Vice President of Development at VanTrust, expressed excitement about this acquisition. He stated, "We are thrilled to have acquired this advantageously located site on which to build new industrial warehouses. Our expertise in industrial properties aligns perfectly with the opportunities presented by this site." His remarks reflect the company's commitment to enhancing their portfolio with strategically valuable properties.
Construction Timeline and Future Prospects
Construction of the first two warehouses is slated for late spring of a forthcoming year, with projected completion in the following spring. While the schedules for the remaining two buildings remain undecided, the anticipation around the project continues to grow. Specific tenants for these warehouses have yet to be disclosed, but interest in such spaces is expected to escalate as development progresses.
About VanTrust Real Estate
Founded in 2010, VanTrust Real Estate, LLC has swiftly emerged as a prominent player in the real estate development sector. With a headquarters in Kansas City and additional offices in various cities, the company has developed over 68 million square feet across multiple sectors, including office and industrial spaces. Their portfolio boasts a value exceeding $7 billion, illustrating their significant role in national real estate development.
Frequently Asked Questions
What are the main goals of VanTrust’s new acquisition?
VanTrust aims to expand its portfolio by constructing four modern industrial warehouses that will address the increasing demand for logistics space in growing areas.
Where is the new industrial site located?
The site is located adjacent to significant transportation networks in a rapidly developing area, crucial for logistics and industrial operations.
When is the construction expected to begin?
Construction on the first two buildings is anticipated to start in late spring of a forthcoming year, with completion targeted for the following spring.
What type of spaces will be developed on the site?
The new development will consist of four Class A industrial warehouses, covering a total area of 600,000 square feet.
How does VanTrust's recent acquisition contribute to its growth?
This strategic acquisition aligns with VanTrust's growth objectives, reinforcing their presence in the logistics sector and meeting market demands in a flourishing economic environment.
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