Cushman & Wakefield has brokered the sale of a 2.32 acre residential redevelopment opportunity on the site of a former data center at “Main & Main” in downtown Salt Lake City, Utah.

Comprising two parcels, the site incorporates a parking lot that totals roughly 1.03 acres and a vacant data center consisting of 305,000 rentable square feet on approximately 1.29 acres. The property, which sits at a “main and main” location in the core of Salt Lake City’s central business district, was acquired by Dart Interest, LLC for approximately US $19.66 million.

Cushman & Wakefield Vice Chair, Kip Paul represented the seller supported by colleague, Michael King. JT Redd represented the seller in the transaction.

“This former ‘Data Center’ site is one of the last remaining D1 zoned development sites in the Salt Lake City CBD. The environmental remediation will take one year at which point the 305,000-sf building will be demolished. The Buyer plans to develop two high rise apartment projects as warranted by market conditions,” observes Paul.

The site’s D1 zoning does not include a maximum density restriction, allowing groups to maximize design and building efficiencies. Additionally, D1 zoning allows for buildings no less than 100’ in height and no more than 375’ in height as of right, making it the most flexible zoning ordinance regarding maximum heights limits.

“Walkable” access to downtown Salt Lake City which is 15 minutes is another notable feature, with the site also offering easy access to Utah’s freeway infrastructure with access to I-15 and I-215 within 1.5 miles. this means a quick, ten-minute commute to the Salt Lake City International Airport. The location is also connected to Utah’s public transportation system as the Library TRAX Station is just two blocks from the site.

The site’s location also provides exceptional connectivity and walkability to an abundance of amenities including the City Creek indoor and outdoor mall on Main Street which features local favorite boutiques and national name brand retailers. This site also boasts direct proximity to downtown’s nightlife districts which feature a growing selection of bars, breweries, and restaurants, providing residents with the activated and connected lifestyle amenities they desire. Additionally, it is within walking distance of Salt Lake City’s best event venues, including Vivint Arena (the home of Utah Jazz), Eccles Theater, and the Salt Palace Convention Center.