New Southwest Salt Lake County Developments Create Opportunity to Increase Expansion for Retail Space
SALT LAKE CITY- Dec. 16, 2015- As the population in Utah continues to increase, Cushman & Wakefield/Commerce is reporting a rapid growth of retail opportunities as the development of residential housing spikes in the southwest portion of Salt Lake County. In response to this rapid increase in housing, Cushman & Wakefield/Commerce is working with Anthem Commercial on new development and expansion of retail space west of Daybreak.
“The vast expansion of residential housing along the Mountain View Corridor is sparking aggressive retail development, which will offer mid-box retail shop space and pads,” said Nick Clark, Senior Director at Cushman & Wakefield/Commerce. “People out-of-state are seeing the many styles of outdoor recreation Utah has to offer, as well as the affordable cost-of-living. The Anthem Commercial Project is located on one of the key tracts of land in the southwest area of Salt Lake County. This southwest quadrant continues to be the dominant area of the county for diverse residential development that people can move into and still afford to have their desired lifestyle.”
Anthem Commercial is keying off this growth in opening a new development in the heart of the present and future residential activity in the southwest quadrant near Daybreak and University of Utah Hospital. The project will be along the Mountain View Corridor and 11800 South, located at the current intersection and future on-and-off ramp of Mountain View Corridor freeway. Anthem Commercial currently has 1,500 to 100,000 square feet of new retail space available for lease.
Gov. Gary Herbert recently announced the population of fast-growing Utah surpassed 3 million residents in October, 2015. “Every 30 seconds a baby is born, every minute a person dies and every 90 minutes a person moves to Utah.” But what does that all mean? Growth. Because of such an increase in population, Herriman has become one of the fastest growing cities in the nation. With new construction underway for single and multifamily housing, the residential growth of Herriman will continue to expand and is expected to double in five years.
As residential development continues to increase, Cushman & Wakefield/Commerce is looking ahead, and helping retailers drive new opportunities such as the Anthem development.
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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 square feet 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, and www.cushwakenm.com. Cushman & Wakefield/Commerce and Cushman & Wakefield/NorthMarq are part of the Cushman & Wakefield platform.
About Cushman & Wakefield
The successful merger of Cushman & Wakefield and DTZ closed September 1, 2015. The firm now operates under the iconic Cushman & Wakefield brand and has a new visual identity and logo that position the firm for the future and reflect its trusted global legacy and wider history. The new Cushman & Wakefield is led by Chairman & Chief Executive Officer Brett White and Global President Tod Lickerman. The company is majority owned by an investor group led by TPG, PAG, and OTPP.
Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. The firm’s 43,000 employees in more than 60 countries provide deep local and global insights that create significant value for occupiers and investors around the world. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $5 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.