Newmark announces the relocation of software development company, PDQ.com’s corporate headquarters. The company will occupy 75,000 square feet of office space in the first phase of “South City,” the largest development project to ever take place in South Salt Lake. Newmark Executive Managing Director of Investments Bryce Blanchard represented PDQ.com in the new lease.
Earlier this month, South Salt Lake leaders along with partners on the South City development, construction manager Gardner Batt and investment group Dakota Pacific, celebrated the groundbreaking of the first phase - which is scheduled to deliver in December of 2020. Jonathan Gardner, founder of Gardner Batt spoke alongside Shawn Anderson, co-founder of PDQ.com, Theresa Foxley, chief executive officer of EDCUtah, and Mayor of South Salt Lake Cherie Wood to welcome the crowd to the site that will soon become the heart of the city.
Construction on the development will begin with the six-story, 150,000-square-foot office building, already 85 percent leased to PDQ.com and GBS Benefits, a local employee benefits brokerage and consulting company. The second phase of the project will consist of a ten-story residential building, hidden parking structure, retail spaces and office components. Completion of the second phase is expected by December 2021.
South City is located on the site of the former Granite Mill warehouse located at 2200 South and Main Street at the intersection of I-80, I-15, State Street, four TRAX lines and the S-Line streetcar. The project’s access to and options for transportation led the developers to invest heavily in a walkable, 24-7 neighborhood that is becoming a new regional destination and will be the “downtown” of South Salt Lake.
Newmark (“Newmark”), operated by Newmark Group, Inc. (“Newmark Group”) (NASDAQ: NMRK), is one of the world’s leading and most trusted commercial real estate advisory firms, offering a complete suite of services and products for both owners and occupiers. Together with London-based partner Knight Frank and independently-owned offices, Newmark’s 18,000 professionals operate from approximately 480 offices on six continents. Newmark’s investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting, government-sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. Occupier services and products include tenant representation, real estate management technology systems, workplace and occupancy strategy, global corporate services consulting, project management, lease administration and facilities management. For further information, visit www.ngkf.com.
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