{"id":1004700056,"date":"2024-01-30T03:11:02","date_gmt":"2024-01-30T11:11:02","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004700056"},"modified":"2024-01-30T06:23:15","modified_gmt":"2024-01-30T14:23:15","slug":"riverbend-secures-112m-for-salt-lake-city-facility","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/riverbend-secures-112m-for-salt-lake-city-facility\/","title":{"rendered":"Riverbend Secures $112M for Salt Lake City Facility"},"content":{"rendered":"<div class=\"wp-block-image\">\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;6a1a10306633b&quot;}\" data-wp-interactive=\"core\/image\" class=\"alignright size-full is-resized wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" width=\"512\" height=\"384\" data-attachment-id=\"1004700058\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/riverbend-secures-112m-for-salt-lake-city-facility\/copper-crossing\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/Copper-Crossing-e1706603626596.png\" data-orig-size=\"512,384\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Copper Crossing\" data-image-description=\"&lt;p&gt;The facility at 6320 W. 300 S. in Salt Lake City.&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Equipment manufacturing improvements at the 309,389-square-foot facility are scheduled for completion in early 2025. Image courtesy of JLL&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/Copper-Crossing-e1706603626596.png?w=512\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on-async--click=\"actions.showLightbox\" data-wp-on-async--load=\"callbacks.setButtonStyles\" data-wp-on-async-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/Copper-Crossing-e1706603626596.png\" alt=\"The facility at 6320 W. 300 S. in Salt Lake City.\" class=\"wp-image-1004700058\" style=\"width:350px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/Copper-Crossing-e1706603626596.png 512w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/Copper-Crossing-e1706603626596.png?resize=300,225 300w\" sizes=\"auto, (max-width: 512px) 100vw, 512px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on-async--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\">The 309,389-square-foot building came online in 2022 as a logistics facility. <em>Image courtesy of JLL<\/em><\/figcaption><\/figure><\/div>\n\n\n<p><strong>Riverbend Management<\/strong> has obtained a $112 million credit tenant lease and equipment financing for a 309,389-square-foot warehouse within Copper Crossing @ I-80 in Salt Lake City. <strong>JLLS<\/strong>, part of <strong>JLL Capital Markets<\/strong>, structured and placed the loan.<\/p>\n\n\n\n<p>Proceeds will refinance an existing construction loan and provide more than $80 million in equipment upgrades that will transform Building 5 into a manufacturing facility. Completion is anticipated in early 2025. <\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-cyan-bluish-gray-color has-alpha-channel-opacity has-cyan-bluish-gray-background-color has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO:<\/strong> <a href=\"https:\/\/www.commercialsearch.com\/news\/top-5-western-markets-for-industrial-construction\/\">Top 5 Western Markets for Industrial Construction<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-cyan-bluish-gray-color has-alpha-channel-opacity has-cyan-bluish-gray-background-color has-background is-style-wide\"\/>\n\n\n\n<p>The 2022-built, cross-dock warehouse currently features 36-foot clear heights, 74 dock-high loading doors, eight drive-in doors and 60-foot bay spacing, as well as 145-foot truck courts. The property also has 95 trailer stalls and 424 vehicle parking spaces.<\/p>\n\n\n\n<p>Building 5 is at 6320 W. 300 S., within 6 miles from Salt Lake City International Airport and 9 miles from downtown Salt Lake City. The location is also some 5 miles from Raceway Commerce Center,<a href=\"https:\/\/www.commercialsearch.com\/news\/westcore-pays-52m-for-salt-lake-city-industrial-asset\/\"> a 397,894-square-foot industrial campus<\/a> that changed hands last year.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-copper-crossing-i-80-up-close\">Copper Crossing @ I-80, up close<\/h2>\n\n\n\n<p>Developed in phases alongside Interstate 80, the nearly 500-acre industrial campus is expected to comprise 13 buildings at full buildout, ranging from 30,000 to 1 million square feet. Home to UPS\u2019 prototypical regional sorting facility, it\u2019s also the only development in the metro to offer rail-served services.<\/p>\n\n\n\n<p>Partners on the project include BIG-D, which served as general contractor for multiple facilities within the campus. Tenants at the industrial park include Sephora, Costco Wholesale and Amazon, among others.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">JLL representation<\/h2>\n\n\n\n<p>The JLLS team representing the borrower included Senior Managing Directors Bill Cavagnaro and Austin Johnson. Last year, the duo helped Parkway Corp. obtain $409 million in credit tenant lease financing for the development of <a href=\"https:\/\/www.commercialsearch.com\/news\/parkway-corp-lands-409m-for-chubbs-philadelphia-hq\/\">a 438,000-square-foot office building<\/a>.<\/p>\n\n\n\n<p>A JLL\u2019s Work Dynamics team assisted Riverbend in the manufacturing site selection, while JLL\u2019s Product and Development Services serves as construction monitor.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Completed in 2022, this warehouse will be repurposed for manufacturing.<\/p>\n","protected":false},"author":3355,"featured_media":1004700058,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21825,21748,21742,1606,51973],"tags":[44006,52260],"class_list":["post-1004700056","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-industrial","category-latest","category-salt-lake-city","category-southwest","tag-jll-capital-markets","tag-jll-work-dynamics"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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