JLL arranges $43.3M construction financing for 470K SF industrial development in Salt Lake City

PHOENIX, Nov. 17, 2025 -  JLL Capital Markets announced today it has arranged $43.27 million in construction financing for 5400 South, a three-building industrial warehouse development totaling 470,334 square feet in West Valley City, Utah.

JLL represented the borrower, ViaWest Group and GEM Realty Capital, in securing the floating-rate loan.

The development, located at 7301 West 5400 South, spans 28.7 acres and will feature clear heights ranging from 32 feet to 36 feet across its three buildings. The project includes 110 dock-high doors, 18 grade-level doors, 54 trailer parking spaces and 443 automobile parking spaces. The buildings will offer flexible space configurations ranging from 19,500 to 218,499 square feet to accommodate various tenant requirements.

Strategically positioned within the West Valley submarket, the location provides convenient access to major transportation corridors including Interstate 80, Interstate 215, Interstate 15, Bangerter Highway and State Route 201, offering connectivity throughout the greater Salt Lake City metropolitan area and access to approximately 20 percent of the nation's population within a 12-hour drive time.

Construction commenced in November 2025, with completion anticipated for December 2026.

The JLL team was led by Capital Markets President Kevin MacKenzie, Senior Director Jason Carlos, Director Jeff Pew and Analyst Lilley Kroll.

"The West Valley submarket represents one of the premier industrial locations in Salt Lake City, benefiting from exceptional transportation access and a supply-constrained environment," said Pew. "This development capitalizes on the market's strong fundamentals, including compressed vacancy rates and rising rental rates, while Salt Lake City's strategic location as the 'Crossroads of the West' continues to attract distribution and logistics operations seeking efficient access to major population centers."

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients - whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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