Business and Development News - 7/30/08

At the Sorensen Development “Pointe” project, the large office building is 100% leased out. They will begin construction on office building number two soon.  The building closer to Highland is retail and they are looking for a restaurant/coffee shop to serve the business crowd expected to be there.

Across from the Chevron on Traverse and Highland (to the west), Ralph Johnson Development is planning a bank, a fast food restaurant, and retail.  This should begin by the end of the year.

At Bangerter and 13800 South watch for a Walgreens Drug Store to open before year end.  Construction should begin next week.

Wadsworth Construction
is starting their second office building.  It will be next to their first one on Bangerter Parkway.

AIG Insurance is still planning to house their regional  office in a new building in the same area as the

Furniture Row (north of IKEA) will open before Christmas.  They are shooting for Thanksgiving.

Modern Display will soon begin construction on 100,000 of retail just south of IKEA.

McDonald’s will begin construction on a new restaurant at the SW corner of Bangerter in about two months.  Although Chevron was going to co-develop this with McDonald’s, they have pulled out.  So for now, it looks like a restaurant only.

Day Dairy Property (123rd South) is still planning space for retail, restaurant, and a possible Hotel, not the rumored storage units some of us heard about.

There is a group trying to save the Day Dairy green-roofed barn, but they will be required to come up with some money to possibly move it a city park.

The retail building (currently under construction) next to Cactus and Tropicals (1300 East and 123rd South) is likely to be a nice restaurant with a spectacular view.

UDOT has settled all the legal issues regarding the 114th  & I-15 interchange. Construction should begin by year end.  114th South will become a major East/West corridor and will extend all the way out to Bangerter.  This means that we should see a lot of retail construction that has been “Land Banked” waiting on UDOT, including the Hospital in the area.