Costco purchases land in the NW quadrant of Salt Lake City

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IPG Commercial announces that Costco Wholesale Corporation has purchased 15 acres of industrial land in SLC located at 380 South and 5700 West.  Michael Jeppesen, SIOR, CCIM, LEED AP, principal broker of IPG Commercial, and Rick Dames with Cresa Partners (St Louis Mo), represented the buyer and John Gurr, SIOR CCIM of Internet Properties represented the seller.

Costco Wholesale Corporation is a multinational corporation which operates a chain of membership-only warehouse clubs. Costco is ranked as the second largest retailer in the world and ranked #15 on the Fortune 500 rankings of the largest US corporations by total revenue.  Costco Wholesale Corporation plans to use this land, which is adjacent to their Utah distribution facility, for expansion purposes.

Transaction Date:              July 12, 2019

Location:                              380 South 5700 West, Salt Lake City, Utah

Size:                                       15 Acres

Seller:                                   Vanguard Real Estate Holdings  

Buyer:                                    Costco Wholesale Corporation

Seller Contact:                   Michael Jeppesen, SIOR, CCIM, LEED AP, IPG Commercial and

Rick Dames, Cresa Partners

Buyer Contact:                   John Gurr, SIOR CCIM, Internet Properties

Brokerage:                           Internet Properties

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Panels being tilted on Bullfrog Spas

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Late 2018 the IPG team was lucky enough to bring Bullfrog Spas together with the right team of pros to consummate the largest industrial transaction in Utah of 2018.  6 months later tilt panels walls are being erected! Check out the live webcam here: https://www.ipcamlive.com/herriman1

 And jump to this page for our previous Bullfrog blog post here: http://www.ipgcre.com/blog?offset=1550679059956.

 If you or someone you know has a need for industrial real estate in Utah, be it industrial land, a warehouse building, or an industrial investment asset, reach out and let us show how IPG Commercial Real Estate can help!

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Is time an enemy or friend?

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A colleague recently asked me if I was looking forward to my birthday?  Honestly, it made me stop for a second.  My response was something along the lines of “sure, it will be a day just like any other day”.  The truth is I suppose I am not quite as excited about this birthday, even though “fifty” has a pretty nice ring to it.  I remember being mush more excited about other milestone birthdays in my life, like 18, 30 and even 40.   Why do you suppose some of us resist telling our age or embracing our age as we get older?  I know for me it is not that I feel old, but perhaps just the opposite, I feel very young and the reality of a number telling me perhaps otherwise is a tough pill to swallow.  Every 365 days we are just that much closer to the end of our experience here, and while there seems to be plenty of bitching and moaning along the way, it is pretty dang good to be alive, and living such a charmed life. However, there never seems to be quite enough time.  I often seem to be running from one thing to next, often a few minutes late to important meetings. Sometimes having to cancel one activity for another.   Time can be such a ball and chain. The solution then must be to live as fully as possible. To celebrate family and friends, and spending as much time as possible doing the things that make us feel most alive, whether that be working, needle point, jumping off cliffs, or just fishing in a pond.

 I am lucky to say that I have a wife I adore, I love my job, and enjoy my colleagues, as well as the vast majority of clients we have been blessed to serve. And over the years I have relished many travel and recreational opportunities to boot!

 Time past has been well spent, for it has made me who I am today,  time looking forward is full of anticipation, with the hopes of being a better human, but time present is the only thing of real value, quite simply because it is the only time that is real. For me time is my enemy and my friend all at the same time.  And I don’t think that will change any time soon!

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Exciting Progress at Copper Crossing

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If you haven't been out to see all the progress at Copper Crossing recently, let me give you a quick update. Building #1 is nearing completion with tenant improvements for Olive and Cocoa moving along well. The second floor of the office space is up and walls interior walls should be started right after the duct work is completed. The elevator pit was dug and the building looks fantastic. Building #2 is under way with site grading moving along. The unusually wet spring has made earthwork progress a little more difficult than expected, but things are moving along nonetheless. Below is a link to the live construction camera so you can see for yourself!

https://www.ipcamlive.com/coppercrossing1 

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Local CEO's Cautiously Optimistic

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The SL Chamber released the 4th quarter results of the Chamber’s CEOutlook 2018 Q4 survey - a statewide economic survey of Utah business executives. The results are intended to help business and community leaders make informed decisions. The Confidence Index decreased from 60.9 in 2018-Q3 to 55.5 for 2018-Q4, as executives continue to report cautious optimism for the economy. The Index can range from 0 to 100. A score below 50 indicates executives believe the economy will worsen; a score above 50 indicates a belief among executives that the economy will improve. “There is no question that there is more uncertainty facing business, civic and elected leaders. That is why it is essential that we understand that, as business leaders, we can play an active role in defining our future.” said Derek Miller, president of the SL Chamber. 63% of executives report similar economic conditions for Utah’s economy as compared to the previous six months, and nearly one-third of executives note improvement, while trend points to moderating environment. The study also shows that a majority of executives, 67%, anticipate Utah’s strong economy will hold steady in months ahead. Factors that executives believe could have a negative impact on Utah’s economy include the tight labor market, rising housing prices and declining sentiment

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