Salt Lake City – October 16, 2013 – The Salt Lake City office of CBRE has finalized the sale of 38.77 acres of land in Draper, Utah. Tom Dischmann, Senior Vice President, represented the buyer, Kimball Investment Company. Jeff Richards, First Vice President, represented the seller, Scandia Investment/White Rim Investment.
Located at 170 Golden Harvest Road, the land is known as the White Mountain Business Park. It is adjacent to the new FrontRunner station and eBay’s new call center. Kimball Investment has plans to develop a +- 600,000 office/warehouse project on the site. Completion of Phase I is targeted for the end of 2014.
“There is a very limited supply of industrial land in the south valley”, stated Richards. “As new commercial and residential developments continue to grow, so does the demand for industrial warehouse space. The transaction proved beneficial to both buyer and seller.”
About CBRE Group, Inc. CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2012 revenue). The Company has approximately 37,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.