June 9, 2015

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Around Utah June

June 9, 2015


SALT LAKE AREA

Salt Lake City – SPOWER, a renewable energy provider, and COHNREZNICK CAPITAL MARKETS SECURITIES, a boutique investment banking services firm, announced the placement of $168.5 million in back leverage to sPower provided by KeyBank National Association, OneWest Bank and Zions Bank.

Salt Lake City – NEWMARK GRUBB ACRES announced the lease of 7,221 square feet of office and retail space to DUB NUTRITION. The new site will be located at 1649 E. 1400 South in the Legend Hills office complex in Clearfield. Ryan Flint of Newmark Grubb ACRES represented lessee DUB Nutrition in the transaction.

Newmark Grubb ACRES also announced the sale of the Gateway 2001 building to IGL PROPERTIES. The 47,000-square-foot property is located at 331 S. Rio Grande Street. This historic multi-tenant building features hardwood floors, exposed brick walls, a full atrium and large windows.

Salt Lake City – After converting 29 vehicles from gasoline to propane autogas, SUPERIOR WATER AND AIR reported its fleet has eliminated 62 tons of CO2 and saved an estimated $120,000 in fuel costs.

Salt Lake City – PACKSIZE’s automated iQ Fusion 2 On Demand Packaging machine was named the 2015 Silver Award Applied Technology - Industrial Solutions winner by the internationally renowned Edison Awards, which recognize innovation, creativity and ingenuity in the global economy. 

Salt Lake City – MOUNTAIN WEST RETAIL AND INVESTMENT announced the lease of 4,850 square feet of retail space to MATTRESS FIRM, INC. in the heart of the Sugar House district in the latest of a series of transactions with Mattress Firm. Chad Moore and Jeff Harrison represented Mattress Firm for all six of the different lease locations that are spread throughout the Mountain West region, including locations in Utah, Idaho and Montana.

Mountain West Retail and Investment also announced the sale of three separate ZAXBY’S restaurant locations in the last four months. These new stores are the most recent of 10 Zaxby’s that have opened in Utah in the past 12 months. The recently purchased sites are in West Jordan, Cedar City and Lehi. Lance Pendleton represented the seller for each of the three new transactions.

West Jordan – SMITH’S FOOD & DRUG Stores remodeled its grocery store at 4080 W. 9000 South in West Jordan. The $2.7 million investment includes a new exterior and interior appearance, a new pharmacy with a larger consultation area, new seating area in the service deli, and new fixtures throughout the store including wood merchandise tables in the bakery, produce and floral departments. US Bank remains located inside the store.

Tooele – AIRGAS, INC., a supplier of industrial, medical, and specialty gases and related products, celebrated the opening of its new 20,000-square-foot specialty gas facility in Tooele. The new facility will produce high-purity and precision-blended specialty gases used in research and commercial laboratories, environmental monitoring and manufacturing.

Salt Lake City – DeskHub, an entrepreneurial workspace dedicated to providing a creative and collaborative environment for individuals, acquired HOLODECK, a coworking/event campus in Salt Lake City. After transitioning in the summer, DESKHUB SALT LAKE CITY will be the largest coworking space in the city.

Salt Lake City – WORKERS COMPENSATION FUND, RADDON DEVELOPMENT and INCONTACT INC. broke ground on a commercial development project to be known as Towne Ridge. The development is located in the hub directly west of the Southtowne Expo Center. When completed, the project will include two five-story Class A office buildings with a total of 250,000 square feet.  The project will also include a four-story, 1,100-stall parking garage, four retail pads for restaurants or storefronts, and a six-story hotel site.

Taylorsville – WESTERN STATES LODGING, LLC, along with general contractor BIG-D CONSTRUCTION, hosted a groundbreaking ceremony for its newest project, Legacy Village of Sugar House. Legacy Village, a 268-unit senior living complex and Phase 2 of the Sugar House Mixed-Use Development project, will neighbor newly opened Wilmington Flats, a 105-unit urban apartment complex that also includes luxury town homes, 70,000 square feet of office space and 30,000 square feet of retail space.

Salt Lake City – DENTAL FIX RX, a mobile dental equipment repair company, signed an all-new franchise to service South Salt Lake County dentists. The business features a fully equipped mobile repair center that will supply dentist offices with prompt, on-site equipment service, repair and replacements.

Tooele – The LARRY H. MILLER GROUP OF COMPANIES elected not to renew its lease with Tooele County and will cease operation of MILLER MOTORSPORTS PARK at the end of the racing season on Oct. 31, 2015.

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