Jordan Bluffs - Amazon S3 · Jordan Bluffs Midvale, UT Jordan Bluffs Midvale, UT Employment...

Jordan BluffsMidvale, UT

Jeffrey H. Bernson, ALC, CCIMPrincipal Broker(801) [email protected]

Whitney Bernson, MREDVice President(801) [email protected]

Ivayla “Eva” Ivanova, MREDDirector - Land/Investments(801) [email protected]

Realty Advisors, Inc.

7800 South

700 West

1300 West

§̈¦15

+ 264 Acres_

UTA

FrontRunner

UTA TRAX RED Line



To access the NDA, due diligence items and Term Sheet please register at http://dealroom.reiwise.com/ca.aspx?data=B8w45R7Y0W0tWufYyQ0Gxg==

Table of Contents

Executive Summary................... 03

Property Details........................ 08

Area Overview...........................10

Employment................................14

Demographics............................16

executive summary | 3

Executive Summary

IntroductionProperty FeaturesLocation MapAerial Map

http://dealroom.reiwise.com/ca.aspx?data=B8w45R7Y0W0tWufYyQ0Gxg==



Introduction

We are pleased to present the 264-acre Jordan Bluffs in Midvale, Utah for development. As one of the largest infill sites in Salt Lake County, this property provides an unprecedented opportunity to create a development vision in the midst of a vibrant and growing metropolitan area.

LOCATION:

SIZE:

OFF CAP PARCELS:

CAPPED PARCEL:

ZONING:

PRICE:

7800 South 800 West, Midvale, UT

264± Acres

67 Acres

197 Acres

Jordan Bluffs Zone (TBD)

$16,300,000

Property Features

• Largest Infill Site in Salt Lake County (Geographic Center)

• Zoning - TBD

• Remediated Superfund Site - EPA Removed from NPL in 2004

• Municipal Incentives through the RDA of Midvale City

• Potential for Tax Increment Financing (TIF)

• Close proximity to public transit as well as major Interstateconnections (I-15, I-215)

• Impact Fees are limited to UFA (Unified Fire) Fees.

executive summary | 4 executive summary | 5

Location Map

Custom Map

Source: ©2015 Esri

November 30, 2015

©2015 Esri Page 1 of 1


SITE




Aerial Map


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N

Jordan Bluffs

§̈¦15

7800 South

700 West

Salt Lake City

Midvale

MurrayTaylorsville

§̈¦15

§̈¦15

;

N

West JordanMidvale

Bingham Junction

7800 South

231,

905

AD

T

7000 South

Red

woo

d R

oad

Stat

e St

reet

8000 South




Property Details

Project Area HistoryRDA - Jordan Bluffs Project AreaTax Increment FinancingNeighboring Uses

property details | 8 property details | 9

Project Area History

The Jordan Bluffs site was historically used as a former ore milling plant. During this period from 1906 through 1971 the area experienced significant environmental contamination due to millions of tons of mill tailings being deposited on the site. Due to the detection of hazardous materials, mainly arsenic and lead, the Utah Department of Environmental Quality (UDEQ) and the EPA became involved in 1990 and placed the property on the CERCLA National Priorities List (NPL). The final Record of Decision for the project was issued in 1993 with a remediation plan to address the contamination on the Superfund site. Through joint efforts of UDEQ and the EPA, the remediation of the property was successfully completed and the site was removed from the National Priorities List in 2004. The EPA has issued a Ready for Reuse certificate for the property allowing for development.

Neighboring Uses

North: As the new standard for SuperFund redevelopment in the United States, Bingham Junction represents the success of mixed-use, Transit Oriented Developments in Midvale City. The development is on 351 acres of land and contains over 2000 single and multifamily units, over 1.4 million square feet of office space, and over 120,000 square feet of retail space. At this time, the development contains approximately 1500 employees, and is projected to grow to 5000+ over the next several years. Major employers include: Intermountain Health Care, ZAGG, FL Smidth, Winco Foods, CHG, Overstock, Savage Services among many others. This specific project has been showcased by the EPA as a premier example of SuperFund reuse.

South: Neighboring uses to the Southern border of the site include commercial and industrial sites.

East: A variety of commercial, residential and industrial uses border the Eastern boundary of the site

West: The Jordan River Parkway Trail borders the Western boundaries of the site. Residential and industrial uses, as well as vacant land, also border the property on the West.

Redevelopment Agency (RDA) - Jordan Bluffs Project Area

This 264+/- acre project is contained within its own redevelopment project area. Midvale City Redevelopment Agency currently has an option to purchase the property and is eager to work with a development team to build out the area. The City of Midvale has been extremely active in expanding their tax base to further development and continue to grow the economy.

Tax Increment Financing

Tax increment financing (TIF) is a method whereby the RDA is able to utilize incremental property taxes created by a development project to reimburse a developer for certain, predetermined site improvements and other approved expenditures. Both the RDA and City of Midvale are anxious to work with prospective buyers on the vision, design, and development of the Jordan Bluffs site. In anticipation of the unique advantages and challenges of the property, the RDA will use the tax increment created to reimburse the buyer/developer for those certain predetermined improvements and costs. The terms and conditons of any reimbursement agreement will be determined prior to closing.

*Photo - NorthEast Corner of View 72developed just north of Jordan Bluffs



Area Overview

Greater Salt Lake AreaState of UtahMajor Industries / EDCUtahTransportation and Distribution

Area Overview | 10 Area Overview | 11

Greater Salt Lake Area

The Greater Salt Lake Area is firing on all cylinders and ranks among the country’s fastest growing large metro areas. Growth in high tech is one of the driving forces. The area boasts strong population growth linked to birth and in-migration, a young well-educated work force, and a demand for high paying technology and support services.

State of Utah

The State of Utah has been recognized year after year as having one of the strongest economies in the country. Despite the existing economic challenges globally and nationally, the fundamentals of the Utah economy remain solid and provide the foundation for economic expansion.

Major Industries / Economic Development

Utah’s economy is on a roll. Utah has received national accolades for quality job growth, low unemployment, innovation and economic diversity.

Utah’s workforce has a rare and unique skill set that no other State in the country can boast. Collectively, Utah residents speak 90% of the worlds languages which has helped the State’s economy evolve in varied industrial and manufacturing sectors. The Economic Development Corporation of Utah (EDCUtah) announced that during the 2015 fiscal year 39 companies announced decisions to either relocate or expand in Utah. These companies will add 8,402 quality jobs to the state’s economy and retain another 5,732 jobs. Overall, this represents capital investments totaling more than $851.4 million once completed.

Top Industries in UtahGDP in Billions of USD

Manufacturing

Retail or Wholesale

Finance & Insurance

Health Care & Social Assistance

Professional, Scientific & Tech

Tourism

Information

Mining

$17.6

$14.3

$13.9

$7.8

$7.0

$6.9

$4.5

$2.8



Area Overview | 12 Area Overview | 13

Transportation and Distribution

The state of Utah and its geographic location in the heart of the American West propels its continuing functional role as “The Crossroads of the West.” The Salt Lake City Area is optimally placed as a hub for distribution and travel. Whether by road, rail, public transit or air, the Salt Lake City area offers a great deal of logistical advantages both to residents and businesses.

Public Transit

Utah has an extremely integrated public transit network, including an efficient system of bus transit, TRAX light rail and FrontRunner commuter rail. The Utah Transit Authority (UTA) has a 1,600 square mile service area that includes 75 cities in six counties which is one of the largest geographical service areas of any transit agency in the US. The success of Utah’s public transit has earned many accolades including, Forbes’ 2010 study which ranked Salt Lake City #1 for Best City for Commuters.

Rail

Utah has approximately 1,700 miles of railroad track and serves as an excellent interline switching route given its central location. Union Pacific’s inter-modal hub can service 250,000 truck, rail and ocean-going containers annually, These lines connect Utah to major sea ports such as Los Angeles, Portland, Seattle and Oakland as well as other key locations in the country.

Highway and Road Systems

Given Salt Lake City’s central location, more than 2,300 interstate and intrastate motor freight carriers operate in Utah. Because of the State’s robust transportation system, the State is ideal for distribution and logistics companies. This is why businesses like Proctor & Gamble and Wal-Mart have located regional hubs within the state.

Air Travel

Salt Lake International Airport was ranked #1 in North America in 2011 and 2012 for on-time departures, according to Flight Stats. Salt Lake International serves more than 90 cities with non-stop flights and has about 625 scheduled daily flights serving 20 million passengers each year. Salt Lake International also serves as Delta Air lines’ western hub and the airport is within one hour of 11 major ski resorts offering a multitude of opportunities for business and leisure.

The Airport is currently undergoing a $1.8B expansion and remodel started in 2014 and slated for completion in 2023 with the main terminals to be completed in 2020. This will further facilitate access and distribution.

Air Freight

More than 300 million pounds of air freight move through the cargo facility each year. Some of the major Cargo Operators include;

• Ameriflight• DHL• ABX Air• FedEx• UPS airlines• Western Air Express.

*Information provided by

ESRI Business Analyst


Salt Lake City

Seattle

Portland

Boise

Las Vegas

Carson City

San Francisco

/

Pheonix

Denver

Cheyenne

Helena

San Diego

Los Angeles

Sante Fe

Sacramento

9094

8290

5

5

5

15

15

15

70

84

80

90

25

25

25

40

4010

8

10

80



Employment

Overview

Labor Force

Employment | 15Employment | 14

Year-to-Year Change in Nonfarm JobsJune 2015* 20,434

Salt Lake County State of Utah United States 3.2% 3.8% 2.1%

*Source: US Bureau of Labor Statistics and US Census Bureau

ECONOMIC SNAPSHOTSalt Lake County

Year-to-Year Change in Nonfarm JobsJUNE 2015*

Salt Lake County State of Utah United States

3.2% 3.8% 2.1%

2008 2009 2010 2011 2012 2013 2014 2015

-5%

0%

Recession

12.4%

-12.7%

-12.7% 12.7%

4,2655,565

1,0332,893

2,0873,536

1,832-590

-302 -481

515

Mining Construction Manufacturing TradeTransportUtilities

Information FinancialActivities

Professionaland Business

Svcs

Education,Health, Social

Svcs

Leisure andHospitality

Other Services Government

-9.8%-3.2% -0.5%

5.7% 2.0% 3.4% 5.8% 5.0% 5.0% 3.9% 2.5%

In the second quarter of 2015, the Salt Lake County job market added 41 percent of Utah's new jobs and maintained low levels ofunemployment. Second quarter job growth was driven primarily by professional/technical services, healthcare, finance/insurance and retailtrade industry employment. Within professional/business services, the majority of new jobs came from professional/technical services and adm..

In the second quarter of 2015, the Salt Lake County job market added 41 percent of Utah's new jobs and maintained low levels ofunemployment. Second quarter job growth was driven primarily by professional/technical services, healthcare, finance/insurance and retailtrade industry employment. Within professional/business services, the majority of new jobs came from professional/technical services and adm..

Abc

Abc

How's the economy?

In June 2015, jobs increased by 3.2 percent compared to June 2014, a total of 20,434 new nonfarm payroll jobs.

The major industries accounting for the most new jobs in June relative to a year-ago: Professional/business services (5,565) andTrade/transportation/Utilities (4,265).

Within trade/transportation/utilities most new jobs were in retail trade growing by 2,026 or 3.0 percent and transportation/warehousingadding 1,143 or 3.8 percent June to June.

Jobs

*PreliminarySource: U.S. Bureau of Labor Statistics; Utah Deparment of WorkforceServices. Cory Stahle, 801-526-9709. [email protected]

Link for PDF version. jobs.utah.gov/wi/regions/county/saltlake.html

20,434

Updated 11/24/2015Utah Department of Workforce Services

Salt Lake County State of Utah United States

Area ParameterSalt Lake County

Overview

The state of Utah is experiencing a much higher growth in employment at 3.8% when compared with the national average of 2.1%. In 2014 Utah had an increase of 38,580 non farm jobs and is expected to add another 33,400 jobs in 2015.

In June 2015, jobs in Salt Lake County increased by 3.2% compared to June 2014, a total of 20,434 new non farm payroll jobs. The major industries accounting for the most new jobs during this period are Professional/Business services and Trade/Transportation/Utilities.

In the second quarter of 2015, the Salt Lake County Job market added 41% of Utah’s new jobs and maintained low levels of unemployment. Second quarter job growth was driven primarily by professional/technical services, healthcare, finance/insurance and retail trade industry employment.

Labor Force

Utah’s labor force is known for being young and highly educated. Based on the 2010 Census, Utah had the lowest median age among the states at 29.1% which is significantly lower than the national average of 37.1%. 30.3% of which hold a college degree (the national average is 28.8%). There is a continued influx of industry entering the Utah market because of the high-caliber labor force available together with State, County, and local municipality contributions to economic development.



DemographicsGreater Salt Lake Area

Demographic ReportPopulation Density MapAverage Household Income Map

Demographics | 16 Demographics | 17

*Information provided by ESRI Business Analyst

Demographic Report

Custom Map

Source: ©2015 Esri.

December 02, 2015

©2015 Esri Page 1 of 1

§̈¦15

Population

2015 Estimated Population

2020 Projected Population

2010 Census Population

Growth 2010-2015

Growth 2015-2020

2015 Estimated Median Age

2015 (US) Estimated Median Age

1,095,091

1,168,776

1,030,909

1.16%

1.31%

31.7

37.9

Income

2015 Estimated Median Household Income

2020 Projected Median Household Income

2015-2020 Annual Rate

2015 Estimated Average Household Income

2020 Projected Average Household Income


2015 Estimated Per Capita Income

2020 Projected Per Capita Income


$61,911

$73,946

3.62%

$79,391

$89,939

2.50%

$26,735

$30,274

2.52%

Households

2015 Estimated Households

2020 Projected Households

2010 Census Households

Growth 2010-2015

Growth 2015-2020

2015 Estimated Average Household

364,899

390,329

342,664

1.2%

1.36%

2.96

Housing

2015 Estimated Housing Units

2015 Estimated Occupied Units

2015 Estimated Vacant Units

2015 Estimated Renter Occupied Units

2015 Estimated Median Housing Value

2020 Projected Median Housing Value

385,648

236,708

20,749

128,187

$266,893

$328,077



Demographics | 19Demographics | 18

Population Density Map

demographics | 19

Population Density Map Average Household Income Map

Average Household Income Map

18 | demographics

Jordan Bluffs Jordan Bluffs


Jeffrey H. Bernson, ALC, CCIMPrincipal Broker(801) [email protected]

Whitney Bernson, MRED Vice President(801) [email protected]

Realty Advisors, Inc.

© 2015 JHB Realty Advisors, Inc. The information contained in this document has been obtained from reliable sources. Information provided is accurate based on our research and knowledge. JHB Realty Advisors, Inc makes no guarantee, warranty or representation regarding the information. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The Value of this property should depend on careful conduct on your part through suitable investigation of the property.

Jordan Bluffs - Amazon S3 · Jordan Bluffs Midvale, UT Jordan Bluffs Midvale, UT Employment...

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