Jul
22
Land Acquired for Massive Luxury Apartment Complex in St. George, UT

02 - Main Entrance - straight on (2)ST. GEORGE, UTAH—July 22, 2015—The St. George, Utah office of Cushman & Wakefield | Commerce today announced it has brokered the sale of 11.37 acres of land for the development of the  Grayhawk Apartments at River’s Edge, which with 244 units, will be one of the largest apartment complexes in the St. George area.

The Grayhawk Apartments will be part of the Dinosaur Crossing development and adjacent to the Mall Drive bridge, near the Smith’s Marketplace and the Dinosaur Discovery Site.

Travis Parry, Tom Callister and Andrew Sorensen of Cushman & Wakefield | Commerce represented the buyer and developer of Grayhawk Apartments, Bach Homes. The seller was Wadman Corporation, the developer of Dinosaur Crossing.

“Bach Homes developed a luxury apartment complex in St. George called The Falls at Mesa Point,” said Travis Parry, Senior Director with the Cushman & Wakefield | Commerce St. George office.  Building on the success of The Falls at Mesa Point, they wanted to expand with an additional development in the area. We helped them identify a site for this beautiful new development. With its location near the river walk and a close proximity to schools, the university, shopping and additional commercial developments, Dinosaur Crossing was our prime candidate.”

Grayhawk Apartments at River’s Edge will consist of 244 units in 12 apartment buildings, two of which will contain elevators.  The property will also consist of a state of the art clubhouse which will house the leasing and management offices, billiard room, steam room, sauna room, tanning room, 24 hour fitness center and an indoor kids’ playroom.  Additionally, the Grayhawk Apartments will provide a resort style swimming pool, splash pad and hot tub.  Also in the pool area, one will find a covered fireplace pavilion, four gazebos, and barbeques.  On site you will also find a playground.  The project will also provide 46 garages and several covered carports.

“The demand for rental apartments is at an all-time high [in Washington County],” said Shon Rindlisbacher, an owner of Bach Homes.  Construction is scheduled to commence toward the end of this year.  Bach is excited to bring a luxury apartment community to the St. George area that will cater to the needs and wants of the community.  “The team at Cushman & Wakefield | Commerce overcame the challenges of site selection and found us the perfect location to build out the Grayhawk Apartments at River’s Edge project. The site will enable our high-end amenities and architectural designs to fit naturally with the area.”

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About Cushman & Wakefield | Commerce

Cushman & Wakefield | Commerce, headquartered in Salt Lake City, Utah is an independently owned and operated member of the Cushman & Wakefield Alliance with offices throughout Utah, Nevada, Washington and Idaho. The firm partners with its sister company Cushman & Wakefield | NorthMarq to provide innovative commercial real estate solutions to occupier and investor clients, offering transaction services, capital markets services, occupier and investor services, and real estate advisory. Together the firms manage more than 52 million sq. ft. of retail, industrial, and office assets, have annual revenues of more than $100 million, and employ more than 750 professionals. Learn more at www.comre.com; www.cushwakenm.com. C&W | Commerce and C&W | NorthMarq are part of the Cushman & Wakefield platform, which is the world’s largest privately-held commercial real estate services firm with 250 offices in 60 countries globally. www.cushmanwakefield.com.

About Cushman & Wakefield

Cushman & Wakefield advises and represents clients on all aspects of property occupancy and investment. Founded in 1917, it has 259 offices in 60 countries, employing more than 16,000 professionals. It offers a complete range of services to its occupier and investor clients for all property types, including leasing, sales and acquisitions, equity, debt and structured finance, corporate finance and investment banking, appraisal, consulting, corporate services, and property, facilities, project and risk management. To learn more, click http://www.cushmanwakefield.com/.

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