May 26, 2020 Comments Off on St. John Properties Developing $120M Utah Business Parks Views: 433 Phoenix & Southwest News, Southwest News

St. John Properties Developing $120M Utah Business Parks

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St. John Properties acquired two properties and immediately announced development plans for business parks in Taylorsville and Springville, UT. Together, St. John expects the two new projects to total $120 million in new capital, bringing its total commitment so far in Utah to half a billion dollars.

The Beltway West community in Taylorsville is a 20-acre site that will contain five buildings, and 300,000 square feet of office space for roughly 2,000 employees. Spring Pointe Exchange in Springville is 18 acres with six planned buildings encompassing 225,000 square feet of office space for 750 employees. St. John expects to begin construction this summer on the projects.

St. John Properties Utah’s Daniel Thomas says, “We share the current [COVID-19] challenges and have empathy for the related problems faced by every Utah citizen and business. However, we also see a tremendously bright future in Utah, and St. John Properties wants to help lead Utah forward by continuing to invest in this great economy.”

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