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Utah Business - April 8, 2008
"Bngerter Crossing Business Park Construction Underway
LNR Property Corporation's Commercial Property Group has erected the first of their planned buildings in the ultimate 160-acre, 3.5 million-square-foot Bangerter Crossing Business Park in Salt Lake City. LNR's Commercial Property Group is the real estate development and investment division of LNR Property Corporation.
The first building will contain 244,300 square feet with a second 162,866 square foot building expected to be completed and ready for occupancy in May 2008 and August of 2008, respectively. A third building will soon follow, bringing an additional 300,000 square feet. Construction is scheduled to commence on the third building in the summer of 2008.
Throughout the project, LNR's Commercial Property Group will utilize more than 52,000 cubic yards of concrete on the building pads and roadways. The re-utilized apriport runway concrete will only be used for pad and roadway construction as an additive to the engineered soils, and will not be used for new wall construction. Once completed, the park will have used more than 110,000 cubic yards of conccrete, the same amount needed to build a four-foot sidewalk from Salt Lake City to San Francisco.
"In a team effort involving Camco Construction and Ninigret Construction Companies, we are very pleased we are able to utilize a portion of the airport concrete in our development, as it helps reduce landfill waste and will contribute to the long-term strength of our project," said David Baird, director of development for LNR Property Corporation's Commercial Property Group in Salt Lake City. "This project is located directly in the middle of the major distribution nodes along the Wasatch Front. We believe the project's design and location will prove to be very valuable in the eyes of our tenants and larger business community."
Bangerter Crossing Business Park offers highway visibility and is adjacent to freighting operations at Salt Lake City International Airport, the new Union Pacific Intermodal facility and Interstate Highways 15 and 80. Its location and amenities make it an ideal site for warehouse distribution building operations.
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Intermountain Contractor - December 4, 2007
"Camco Construction, Inc. recognized for Best of 2007 Private Project under $5 million for the Murray Park Medical Building"
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The Enterprise - December 10, 2007
"Ground broken for $200 million North SL project"
Salt Lake-based Compass Development Group broke ground last week on Eaglewood Village, a $200 million, 96-acre mixed use development located at the intersection of Highway 89 and Eagle Ridge Drive in North Salt Lake.
After almost two years of planning and contention, the project will turn the city's old gravel pit into a new southern gateway into North Salt Lake and Davis County.
"Just five minutes from downtown Salt Lake City, this is the perfect spot for someone who works in Salt Lake but prefers the elbow room of Davis County," said Ben Lowe a principal in Compass Development Group. "Eaglewood Village will include Davis County's largest Class A business park. Its proximity to downtown Salt Lake City and the airport makes it an ideal location for business. It's going to be a great place to live, work and play."
To be located at the intersection of I-15 and I-215, Eaglewood Village will sit on one of the last remaining parcels of land available for development along the I-15 corridor. The site is located at the base of the Eaglewood neighborhood and will be home to 570 residences, including townhomes, live/work condominiums and lofts across a variety of price points. The first units are expected to be ready in fall 2008. Despite gloomy reports about residential real estate, Compass is adding names to quickly growing interest lists. Those on the interest lists will have first priority when sales open in the spring.
In addition, more than 120,000 square feet of retail space will be built at Eaglewood, including shops, cafes and restaurants. Compass has signed a letter of intent with a 40,000 square foot grocer and is in negotiations with various shops and eateries. The retail is being leased by Rich Robbins and Steve Bowler at Coldwell Banker.
Eaglewood Corporate Center, the office portion of the village, will ultimately consist of 340,000 square feet of Class A office space. Compass has just started leasing the first 45,000 square foot building, which is expected to be ready for occupancy in early 2009. Office space is being leased by Brandon Fugal and Greg Gunn with Coldwell Banker.
Designed by VCBO Architects and being built by Camco Construction, Inc., Eaglewood Village also will feature common recreation areas for residents, including fountains, a stream, walking and jogging paths and a six-acre park at the top of Eagle Ridge Drive.
Compass Development Group was formed in 1986 by Steve Lowe and has since developed various residential and commercial properties in Utah, Colorado and California. Recently, Compass has focused its efforts on multi-family and mixed-use developments throughout the Wasatch Front.
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The Enterprise - October 29, 2007
"3.5 million square foot business park to be built in Salt Lake City"
LNR Commercial Property Group, Newport Beach, has acquired 34 acres on the southeast corner of Bangerter Highway and California Avenue, Salt Lake City, where work is under way on the first phase of a four-phase business park that eventually will become a 165-acre, 3.5 million square foot business park.
The first two structures - one measuring 162,800 square feet, the other 244,300 square feet - are slated for occupancy in May and August 2008, respectively. A third building consisting of 325,000 square feet should break ground in mid-2008, rounding out phase one, said Ric Kern, regional president of LNR Commercial Property Group. The development is called Bangerter Crossing Business Park.
The firm acquired the 34 acres from Randy Abood and Gary McEntee of Ninigret Group. Additional phases will be purchased in 2008 and 2009, Kern said.
"Bangerter Crossing Business Park is one of the last permier commercial sites available with developable land for industrial projects in Salt Lake City," Kern said. "It offers highway visibility and adjacency to freighting operations at Salt Lake City International Airport, the new Union Pacific Intermodal facility and interstate highways 15 and 80. This location, along with the property's amenities, makes it an ideal location for warehouse distribution buildings of this type."
The Bangerter Crossing Business Park industrial buildings will be characterized by flexible bay depths allowing for font loaded tenants as small as 15,000 square feet. The buildings will also offer several dock-high loading doors all the way up to full building cross-dock tenants, utilizing efficient floor plans with multiple dock-high loading doors. High-cube clearance wil be combined with glass elements up to 28 feet high.
Architect is Dave Robinson. Contractor is Camco Construction. Zach Anderson of NAI Utah Commercial Real Estate brokered the land purchase and will handle the marketing of the properties.
LNR Commercial Property Group is a private company that operates as the real estate development and investment division of LNR Property Corp., a $3 billion company with corporate headquarters in Miami Beach. LNR has invested in large commercial developments and redevelopment transactions that range in size from $10 million to more than $100 million.
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The Enterprise - August 27, 2007
"Ground to be broken for first building in Thanksgiving Park"
Thanksgiving Development is slated to break ground Aug. 28 for the first of five office buildings on 38 acres north of the existing Thanksgiving Point development in Lehi in a new project called Thanksgiving Park.
Measuring 140,000 square feet, the first building will be anchored by Provo-based Agel Enterprises, creator of a line of gel-based nutritional supplements. The firm will occupy the top two levels - 60,000 square feet - when the structure is completed next September.
The building was designed by Beecher Walker & Associates and will be built by Camco Construction, according to Thanksgiving Development spokesman Andrew Bybee. The other four buildings, totaling 710,000 square feet of Class A office space, will be constructed as demand dictates, he said.
Privately held Agel Enterprises, founded two years ago, has outgrown its present office at 5252 North Edgewood Dr., Provo, said spokesman Andrew Pete. The firm launched simultaneously in 10 countries and now is operational in more than 40.
"We have a really aggressive business model here at Agel," he said "and it's paying off. After two years we've paid off our initial loan, so we're a debt-free company."
Agel Enterprises, a network marketing company, developed a suspension gel technology that delivers a variety of nutritional supplements in single-serving gel form packaging.
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