SALT LAKE CITY — JLL Capital Markets has secured an undisclosed amount of financing for Northpoint Innovation Park, a 94-acre master-planned industrial project at 3200 N 2200 W in Salt Lake City. A Utah-based community bank provided the loan for the borrower, a joint venture between OCC Industrial and Xcel Development.
Situated adjacent to Salt Lake City International Airport and within 10 minutes of downtown Salt Lake City, Northpoint Innovation Park’s master plan includes eight larger sites designed for front-park, rear-load vertical development and five smaller format sites with approximately 1 acre each of yard space or additional parking. Upon completion, the park will offer 15 pad-ready sites for small industrial users.
Will Haass and Jeff Pew of JLL arranged the financing, which incorporates an Infrastructure Financing District municipal bond package that will fund public infrastructure improvements including roads, utilities and offsite connections.
Culum Mills and the JLL Salt Lake City industrial leasing team will market the individual pad-ready sites to industrial users upon completion of horizontal improvements.