Phoenix-based GO Industrial, in partnership with Crow Holdings Capital, has purchased 28 acres of infill land in Salt Lake City’s California Avenue submarket for its debut industrial development, 5600 Logistics. The two-building, 503,792-square-foot, fully speculative project will follow the GO Industrial brand of strategically located, highly functional real estate with an elevated design.
“Our business model focuses on delivering design-centric buildings with a location-first strategy, ensuring projects are at the center of quality employment pools and sought-after logistics corridors,” said GO Industrial Managing Partner Robert Guerena. “5600 Logistics checks all of these boxes. It will model GO Industrial’s investment thesis for Salt Lake– a city with strong population growth and a robust industrial market where this type of institutional-level product is in high demand.”
GO Industrial provides ground-up development, value-add acquisitions and the management of industrial and e-commerce real estate product throughout the Western U.S. Its debut project in Salt Lake City will feature 32’ clear heights, dock-high and ground-level loading and generous trailer and auto parking. Each building will have 4,000 amps of power and ESFR fire protection in an A/C-ready shell.
Design amenities across all GO Industrial developments will include a consistent/branded color scheme, move-in-ready spec office spaces built out with high-end finishes, and amenities designed to help employees perform at an optimal state of productivity and wellness.
5600 Logistics is located at S 5600 W and California Avenue, two miles from the Salt Lake City International airport and one mile south of Interstate 80, within the California Avenue submarket.
According to CBRE, the California Avenue submarket absorbed almost 1.3 million square feet of industrial space during Q1 2021, the highest absorption rate of any Salt Lake City industrial submarket. As of the end of the first quarter, the area was at a low 2.1 percent vacancy rate.
“GO Industrial has secured an A-plus core location for their industrial debut and has planned an institutional-level project that will capture the interest – and can meet the needs – of users ranging from light manufacturing to e-commerce to last-mile or bulk distribution,” said CBRE Vice President Chris Liddell, who along with Senior Vice President Tom Dishman and Vice President Matt McAffe are the project’s exclusive leasing brokers.
Construction on 5600 Logistics is scheduled to begin in September and complete in July 2022. The project architect is AEUrbia. The general contractor is Layton Construction.