HOTEL DEVELOPMENT PORTFOLIO Greater Salt Lake City Area

Land Sites for Hotel Development • Entitlement work completed • Executed franchise agreements • High barrier to entry locations

Adam Gatto Molly Wilson +1 801 947 8375 +1 801 453 6853 [email protected] [email protected]

Colliers International 111 Main Street | Suite 2200 Salt Lake City, UT 84111 P: +1 801 947 8300 Executive Summary...... 3 Hotel Investment Opportunity...... 4 Regional Map...... 5 Hotel Flags...... 6 Avid...... 7 TABLE OF Holiday Inn...... 8 Candlewood Suites...... 9 Salt Lake City Sites...... 10 CONTENTS Site Aerial...... 11 Aerial Map...... 12 Airport Drive Time...... 13 The Northwest Quadrant...... 14 Avid...... 15 Site Plan...... 16 Photo Gallery...... 17 Holiday Inn...... 18 Site Plan...... 19 Photo Gallery...... 20 Lehi Sites...... 21 Site Plan...... 22 Site Aerial...... 23 Proposed Transportation...... 24 Drive Time...... 25 Technology Corridor...... 26 Holiday Inn...... 27 Site Plan...... 28 Photo Gallery...... 29 Candlewood Suites...... 30 Site Plan...... 31 Photo Gallery...... 32 Area Overview...... 33 Why Utah?...... 34 The Wasatch Front...... 35 SLC International...... 36 Utah’s Tech Corridor...... 37 Silicon Slopes...... 38 SLC’s Northwest Quadrant...... 39 Inland Port...... 40

COLLIERS INTERNATIONAL Hotel Development Portfolio | P. 2 EXECUTIVE SUMMARY HOTEL INVESTMENT OPPORTUNITY INTRODUCTION This portfolio of four parcels prepped SALT LAKE CITY SITES LEHI SITES for individual hotel developments includes two contiguous parcels in the tech hub of Silicon Slopes, and two parcels near the recently renovated Salt Lake City International Airport. The presence of global tech giants has Avid: Holiday Inn: contributed to massive growth in the 3930 W. California Ave. 3650 N. Outlet Parkway Lehi area and increased job demand. Salt Lake City, UT 84104 Lehi, UT 84043 With 12% tech job growth in Utah since 2018, and a growing, educated work • Price: $15,000 per key • Price: $20,000 per key force population, there is an increased • 1.51 acres • 1.84 acres demand for additional hotel rooms in • 43,196 SF building • 63,406 SF building Lehi. • 95 rooms • 105 rooms

Similarly, the $3 billion renovation of the international airport has increased demand for jobs and hotel rooms in the greater Salt Lake City area. These sites are located within a 5-minute drive from the airport, a location where the local Holiday Inn: Candlewood Suites: hotel owner and developer recognizes 1174 S. 3800 W. 3600 N. Outlet Parkway the opportunity for growth. The owner Salt Lake City, UT 84111 Lehi, UT 84043 who owns several other hotels at the • Price: $20,000 per key airport and in the greater Utah area, saw • Price: $20,000 per key • 3.31 acres • 1.84 acres an opportunity to capture the market • 103 rooms in two expanding, high barrier to entry • 33,408 SF building areas of the greater Salt Lake City area. • 120 rooms (+40 more potentially) For each: entitlement work is completed, executed franchise agreements, high barrier to entry locations

COLLIERS INTERNATIONAL Hotel Development Portfolio | P. 4 WOODS CROSS ST93 BOUNTIFUL ST67 REGIONAL MAP NORTH SALT LAKE ST65

"o ST268 SALT LAKE CITY

ST269 ST186 ¨¦§80 ST202 !!

ST201 ST172 ¤£89 ¤£40 ST171 WEST VALLEY CITY SOUTH SALT LAKE MILLCREEK

ST224 ST266 ST32 TAYLORSVILLE HOLLADAY ST173 ST111 MURRAY ST152 PARK CITY ST248 215 ¨¦§ ST190 ST154 ST150 ST48 ST138 MIDVALE COTTONWOOD HEIGHTS WEST JORDAN

35 GRANTSVILLE ST ST209 ST71 ST112 SANDY ST210 ST85 151 SOUTH JORDAN ST

TOOELE ST175 ¨¦§15 222 RIVERTON ST DRAPER ST113 HEBER CITY

HERRIMAN ST140 ST36 BLUFFDALE ST144 ALPINE ST92 ST68 !! ST74 ! HIGHLAND LEHI CEDAR HILLS

AMERICAN FORK

ST145 SARATOGA SPRINGS ST180 PLEASANT GROVE

129 ST73 ST135 ST ST199 LINDON

ST241 ¤£189 ST176 ST52 OREM EAGLE MOUNTAIN ST114 0 4.5 9 Miles ST265 PROVO

Source: Esri, DigitalGlobe, GeoEye, Earthstar Geographics, CNES/Airbus DS, USDA, USGS, AeroGRID, IGN, and the GIS User Community

COLLIERS INTERNATIONAL Hotel Development Portfolio | P. 5 HOTEL FLAGS AVID

Avid is IHG’s newest brand, championing everyday travel at a fair price, meeting the needs of the guests who all too often have to pay more for things they don’t need, or compromise on the quality they expect. There are currently 18 Avid hotel locations.

Avid Hotels is described as a midscale hotel brand. They are built with approximately 100 rooms and emphasis communal spaces.

The first Avid hotel opened in August 2018 in Oklahoma City. Owned by Champion Hotels, it had 87 rooms and opened exactly 199 days after groundbreaking.

COLLIERS INTERNATIONAL Hotel Development Portfolio | P. 7 HOLIDAY INN

Holiday Inn offers a comfortable and affordable stay at more than 2,500 locations around the world.

Focused on delivering consistently best in class service and physical quality levels, including a redesigned welcome experience with signature bedding and bathroom products.

COLLIERS INTERNATIONAL Hotel Development Portfolio | P. 8 CANDLEWOOD SUITES

The Candlewood Suites chain was started in 1995, the first hotel was built in Wichita, Kansas, United States, and opened in 1996.

The brand’s locations are extended- stay hotels focused primarily on rate- sensitive business travelers, also known as corporate transient travelers. Typically corporate transient travelers stay only during the week, leaving the occupancy of the subject hotels lower during the weekend. However, with true extended- stay business being over seven days, and often beyond 30 days, it allows the hotel to maintain a higher occupancy average overall.

COLLIERS INTERNATIONAL Hotel Development Portfolio | P. 9 SALT LAKE CITY SITES

3930 W. CALIFORNIA AVE. SALT LAKE CITY, UT 84104

1174 S. 3800 W. SALT LAKE CITY, UT 84111 SITE AERIAL

COLLIERS INTERNATIONAL Hotel Development Portfolio | P. 11 AERIAL MAP

UNIVERSITY OF UTAH

DOWNTOWN SLC

SLC INTERNATIONAL

SITE

CALIFORNIA AVE

BANGERTER HWY

COLLIERS INTERNATIONAL Hotel Development Portfolio | P. 12 400 E

200 W

D AIRPORT DRIVE TIME R A 1800 S H

1100 W D D C V V R L L O 1100 N B B ST67 S L I U £89 V ¤ F A E I D T Drive Time 0 N 0 U 4 O B

From SLC Airport MA IN S T R NORTH SALT LAKE D 5-Minute E E G A ID G L R £89 E 10-Minute ST67 ¤ 15-Minute

J^ SALT LAKE CITY INTERNATIONAL AIRPORT 700 N 600 N GREAT ¨¦§80 215 SOU TH TEMPLE S T N R D S A LT L A K E ¨¦§ NYO CA ST154 O N TI A R 500 S I G EM

1300 E

SITE 300 W

900 W SITCALIFORNIAE AVE 1300 S ¨¦§15 SALT LAKE CITY 1700 S

2100 E

2100 S

ST201 ¨¦§80 D BL V PAR KW A Y 2700 S PARKWAY BLVD H

I 3100 S BRU D D R G 3100 S H 3600 W MAGNA L WEST VALLEY A N

7200 W

MA IN S T

D 3800 S R ST154 3900 S D

5200 W

4400 W

2300 E

3200 W V

500 W

6400 W 4100 S L

6000 W

4800 W H C T

4000 W

A 4700 S 4715 S 4700 S RD S TOOELE 4 800 S Y A MUR R AY HOL L AD A W ST85 V IN E S T ¨¦§215 2700 W 5300 S TAYLORSVILLE

4015 W 5600 S ST85 MURRAY 152 5900 S ST

1300V E I T 6200 S 6100 S N E S

AIRP OR T RD T OR AIRP

725 E 6400 S 700 W C HESTER WIN ST 6600 S WEST JORDAN 1300 W T U 2300 E 7000 S FO R NIO N BLVD

5600 W

2200 W 700 E

7500 S 7 0 2 4 B E 2 7800 S 7800 S CEN TER ST N G W A Miles 7800 S L B LVD

0 TEMPLE D R WA SA TCH S T 8000 S C

0 1000 E R 600 W E 0 E 5 Source:K Esri, Maxar, GeoEye, Earthstar Geographics, CNES/Airbus DS, USDA, USGS, AeroGRID, IGN, and the GIS User Community 4 R D

COLLIERS INTERNATIONAL Hotel Development Portfolio | P. 13 THE NORTHWEST QUADRANT

SITE

COLLIERS INTERNATIONAL Hotel Development Portfolio | P. 14 AVID

3930 W. CALIFORNIA AVE. SALT LAKE CITY, UT 84104

• $15,000 PER KEY • 1.51 ACRES • 43,196 SF BUILDING • 95 ROOMS SITE PLAN

COLLIERS INTERNATIONAL Hotel Development Portfolio | P. 16

BENCHMARK=4238.81' (NAVD88) SOUTHWEST CORNER SECTION 8, T1S,R1W, SLB&M PHOTO GALLERY

COLLIERS INTERNATIONAL Hotel Development Portfolio | P. 17 HOLIDAY INN

1174 S. 3800 W. SALT LAKE CITY, UT 84111

• $20,000 PER KEY • 3.31 ACRES • 33,408 SF BUILDING • 120 ROOMS (+40 MORE POTENTIALLY) SITE PLAN

COLLIERS INTERNATIONAL Hotel Development Portfolio | P. 19 PHOTO GALLERY

COLLIERS INTERNATIONAL Hotel Development Portfolio | P. 20 LEHI SITES

3650 N. OUTLET PARKWAY LEHI, UT 84043

3600 N. OUTLET PARKWAY LEHI, UT 84043 SITE PLAN

CABELAS BLVD.

HOLIDAY INN & CANDLEWOOD SUITES LEHI PC (PLANNED COMMUNITY) ZONE 10% OPEN SPACE REQ'D TRAFFIC IMPACT STUDY IS REQ'D (16.150.C)

PARKING REQ'D 1 STALL / GUESTROOM + 1 STALL PER EMPLOYEE DURING REGULAR WORKING HOURS

CANDLEWOOD SUITES 103 ROOMS EMPLOYEES 5 HOLIDAY INN 100 ROOMS EMPLOYEES 5 TOTAL PARKING REQ'D 213 STALLS

26' FIRE LANE PARKING PROVIDED 213 STALLS INCL. 14 COMPACT STALLS

CANDLEWOOD SUITES 103 ROOMS

PATIO 1,394 SF

(COMPACT) OUTLET PKWY.

HOLIDAY INN 100 ROOMS

26' FIRE LANE

13'-6" MIN. CLEAR HEIGHT BENEATH PORTE COCHERE FOR FIRE TRUCK ACCESS 0 15' 30' 60' 120'

SCALE: 1"=30' NORTH HOLIDAY INN & CANDLEWOOD SUITES PROPOSED SITE PLAN - LEHI, UT

COLLIERS INTERNATIONAL Hotel Development Portfolio | P. 22 SITE AERIAL

T H A N K T S D G A IV 0 0 1 I ,, N 1 G ADOBE WAY 1

A Y

201,000 ADT

C A B P EL O A O 15 S L ¨¦§ BL T

E V SITE

D R L

Y A P DIGITAL DR W BLVD TRIUMPH V A PK E M O ET R UTL SE PKWY

Exit 284 24,000 ADT Alpine/Highland 92 E ST HW 27,000 ADT TIMPANOGOS HWY EB NOGOS Y W 92 AS 92 TIMPA B ST

A ST T T T

S H F R

H A R N I U T K S 181,000 ADT O

O G M I R VI N

N N P G D W T A AGE H B Y L 3400 N H O L U 5 A DS B ,8 N V 0 T L

I A 0 0.095 0.19 0 V D A R V D G E D Miles T D I Source: Esri, DigitalGlobe, GeoEye, Earthstar Geographics, CNES/Airbus DS, USDA, USGS, AeroGRID, IGN, and the GIS User Community

111 S. Main St. Suite 2200 +1 801 441 5937 colliers.com This document has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Salt Lake City, UT 84111 Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and/or its licensor(s). ©2018. All rights reserved. Produced by: brandon.dalton | Gatto_Lehi Hotel 6/18/2018 COLLIERS INTERNATIONAL Hotel Development Portfolio | P. 23 D

PROPOSED TRANSPORTATION

DIGITAL DR APEL R Proposed Transportation CH IDG ¨¦§15 E RD ROADWAY LIGHTRAIL

M 2 0 O 1 R ,0 N 0 ING VIST 0 AR A A D D T C A B SITE P E O LA O S VD L BL E Exit 284 24,000 ADT 92

L ST

Alpine/Highland 27,000 ADT

AP M 1 8 1 CENTER ST ,0 0 FrontRunner 0 3200 N 10800 N 3200 N A Lehi Station D T

A W

S 0 H T T 5,800 ADT 0 O D 2 N A 1

T 0 0

D B 0 0 A 0

160 ,

L 1 VD 1 2600 N

¨¦§15

Exit 282 2100 N WB 20,000 ADT 21,000 ADT 1200 West Lehi 3,800 ADT 2100 N CENTER ST 2100 N EB 85 1 ST 6,000 AD 153,000 ADT T 17,000 ADT

0 0.45 3600 W 0.9

300 W 1,100 ADT Miles 1,100 ADT Source: Esri, DigitalGlobe, GeoEye, Earthstar Geographics, CNES/Airbus DS, USDA, USGS, AeroGRID, IGN, and the GIS User Community

REDWOOD R DRIVE TIME

NORTH SALT LAKE

Salt Lake Drive Time City Intl From Site

80 10 Minutes S A LT L A K E ¨¦§ PEOA CITY 20 Minutes ¨¦§80 ¤£40 OAKLEY 30 Minutes ¤£89 PA R K C I T Y

TAYLORSVILLE MURRAY KAMAS ¨¦§215 MIDVALE WEST JORDAN GRANTSVILLE ¨¦§15 TOOELE SANDY TOOELE SOUTH JORDAN SANDY

HERRIMAN DRAPER MIDWAY SITE H E B E R C I T Y RIVERTON

¤£189 LEHI

AMERICAN FORK

PLEASANT GROVE EAGLE 15 STOCKTON MOUNTAIN ¨¦§ SARATOGA LINDON CEDAR VALLEY SPRINGS ¤£40 ¤£89 ¤£189 OREM

PROVO

¤£89

VERNON SPRINGVILLE

0 7 14 SPANISH FORK Miles SPANISH FORK Source: Esri, DigitalGlobe, GeoEye, Earthstar Geographics, CNES/Airbus DS, USDA, USGS, AeroGRID, IGN, and the GIS User Community

111 S. Main St. Suite 2200 +1 801 441 5937 colliers.com This document has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Salt Lake City, UT 84111 Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and/or its licensor(s). ©2018. All rights reserved. Produced by: brandon.dalton | Traverse Mountain Development Drive Time (01944) 6/19/2018

COLLIERS INTERNATIONAL Hotel Development Portfolio | P. 25 TECHNOLOGY CORRIDOR

SITE

COLLIERS INTERNATIONAL Hotel Development Portfolio | P. 26 HOLIDAY INN

3650 N. OUTLET PARKWAY LEHI, UT 84043

• $20,000 PER KEY • 1.84 ACRES • 63,406 SF BUILDING • 105 ROOMS CABELAS BLVD.

HOLIDAY INN & CANDLEWOOD SUITES LEHI PC (PLANNED COMMUNITY) ZONE 10% OPEN SPACE REQ'D SITE TRAFFICPLAN IMPACT STUDY IS REQ'D (16.150.C) PARKING REQ'D 1 STALL / GUESTROOM + 1 STALL PER EMPLOYEE DURING REGULAR WORKING HOURS

CANDLEWOOD SUITES 103 ROOMS EMPLOYEES 5 HOLIDAY INN 100 ROOMS EMPLOYEES 5 TOTAL PARKING REQ'D 213 STALLS

26' FIRE LANE PARKING PROVIDED 213 STALLS INCL. 14 COMPACT STALLS

CANDLEWOOD SUITES 103 ROOMS

PATIO 1,394 SF

(COMPACT) OUTLET PKWY.

HOLIDAY INN 100 ROOMS

26' FIRE LANE

13'-6" MIN. CLEAR HEIGHT BENEATH PORTE COCHERE FOR FIRE TRUCK ACCESS 0 15' 30' 60' 120'

SCALE: 1"=30' NORTH HOLIDAY INN & CANDLEWOOD SUITES PROPOSED SITE PLAN - LEHI, UT COLLIERS INTERNATIONAL Hotel Development Portfolio | P. 28 PHOTO GALLERY

COLLIERS INTERNATIONAL Hotel Development Portfolio | P. 29 CANDLEWOOD SUITES

3600 N. OUTLET PARKWAY LEHI, UT 84043

• $20,000 PER KEY • 1.84 ACRES • 103 ROOMS SITE PLAN

CABELAS BLVD.

HOLIDAY INN & CANDLEWOOD SUITES LEHI PC (PLANNED COMMUNITY) ZONE 10% OPEN SPACE REQ'D TRAFFIC IMPACT STUDY IS REQ'D (16.150.C)

PARKING REQ'D 1 STALL / GUESTROOM + 1 STALL PER EMPLOYEE DURING REGULAR WORKING HOURS

CANDLEWOOD SUITES 103 ROOMS EMPLOYEES 5 HOLIDAY INN 100 ROOMS EMPLOYEES 5 TOTAL PARKING REQ'D 213 STALLS

26' FIRE LANE PARKING PROVIDED 213 STALLS INCL. 14 COMPACT STALLS

CANDLEWOOD SUITES 103 ROOMS

PATIO 1,394 SF

(COMPACT) OUTLET PKWY.

HOLIDAY INN 100 ROOMS

26' FIRE LANE

13'-6" MIN. CLEAR COLLIERS INTERNATIONAL Hotel Development Portfolio | P. 31HEIGHT BENEATH PORTE COCHERE FOR FIRE TRUCK ACCESS 0 15' 30' 60' 120'

SCALE: 1"=30' NORTH HOLIDAY INN & CANDLEWOOD SUITES PROPOSED SITE PLAN - LEHI, UT PHOTO GALLERY

COLLIERS INTERNATIONAL Hotel Development Portfolio | P. 32 AREA OVERVIEW WHY UTAH? UTAH PROVIDES A HIGH QUALITY OF LIFE Utah is a national leader in high Utah is a The Utah boasts a Highly Opportunities for Utah contains a Young & High-Growth Economic Conditions Educated & Skilled Jobs & Careers Multilingual job growth, low unemployment, State in Utah are Great Workforce in Utah are Plentiful Population low cost of doing business, and AMONG THE TOP STATES ONE OF THE FASTEST RANKED MORE THAN IN THE U.S. FOR JOB GROWTH OVER talented labor. Utah regularly GROWING STATES IN THE U.S. tops rankings among best states 2nd 35 3.6% 120 BEST STATE FOR HIGHER EDUCATION for 15.2% UTAH’S JOB GROWTH RATE business, careers, living, POPULATION INCREASE OVERALL ECONOMY INSTITUTIONS IN UTAH LANGUAGES (U.S. NEWS: BEST (NATIONAL DATABASE 2017-2018 SPOKEN IN UTAH 2010-2018 (U.S. BUREAU OF . Utah provides STATES RANKING) OF SCHOLARSHIPS) (DESERET NEWS) health, and quality of life (ESRI BAO) LABOR STATISTICS) an array of employment opportunities in MEDIAN AGE OF UTAH NAMED UTAH IS EXPERINCING ABOUT various industries, and offers its residents OVERWHELMING JOB GROWTH IN CONSTRUCTION, numerous lifestyle options that range 30.6 #2 48% FINANCIAL, 15% THE YOUNGEST STATE IN BEST STATE OF UTAHNS HAVE HEALTH & OF UTAH RESIDENTS SPEAK from quiet rural settings to thriving urban THE U.S. BY MEDIAN AGE FOR BUSINESS OBTAINED POSTSECONDARY TECHNOLOGY A LANGUAGE OTHER (ESRI BAO) IN 2018 CERTIFICATES OR DEGREES SECTORS THAN ENGLISH AT HOME centers. (FORBES) (UTAH.GOV) (UTAH.GOV) (THE SALT LAKE TRIBUNE)

THERE ARE MORE THAN RANKED OVER ABOUT Most of Utah's population resides along MORE THAN The Wasatch Front, roughly 150 miles of 420 4th 69 48 246 contiguous cities and communities, running THOUSAND BEST STATE FOR THOUSAND THOUSAND MORE PEOPLE IN UTAH VENTURE CAPITAL DEGREES AWARDED THOUSAND JOBS ADDED TO SPANISH SPEAKERS THAN THERE WERE IN 2010 (U.S. NEWS: BEST IN 2015 UTAH’S ECONOMY IN 2018 predominantly north-south along the I-15 STATES RANKING) (U.S. CENSUS BUREAU) (ESRI BAO) (DATAUSA.IO) (UNIVERSITY OF UTAH) corridor and the western slope of the Wasatch Mountain range, from Brigham City to Nephi. The beehive is the state symbol of Utah. The Mormon settlers used the symbol to represent hard work and industriousness. The beehive is where all workers cooperate in the construction of something much bigger than themselves, as a model for a properly run society.

COLLIERS INTERNATIONAL Hotel Development Portfolio | P. 34 THE WASATCH FRONT ABOUT The Wasatch Front is roughly 150 miles of contiguous cities and communities, running predominantly north-south along the I-15 corridor and the western slope of the Wasatch Mountain range. From Brigham City to Nephi this is where about 2.5 million people call home.

WEBER & DAVIS SALT LAKE UTAH DEMOGRAPHICS (2018) COUNTIES COUNTY COUNTY

POPULATION 624,321 1,184,880 647,894

HOUSEHOLDS 198,980 389,935 176,071 MEDIAN AGE 31.4 32.9 24.8

MEDIAN HOUSEHOLD INCOME $74,222 $73,627 $72,567

TOTAL BUSINESSES 14,643 38,241 15,264 Wasatch Front Weber, Davis, Salt Lake & Utah Counties

COLLIERS INTERNATIONAL Hotel Development Portfolio | P. 35 SLC INTERNATIONAL

SLC INTERNATIONAL CONNECTS UTAH TO THE WORLD Located about 4 miles west of Downtown Salt Lake City, Utah in the United States. The airport is the closest commercial airport for more than 2.5 million people and is within a 30-minute drive of nearly 1.3 million jobs.

SLC International is currently OVER undergoing major upgrades, while the construction and renovation is on- 24 MILLION going the airport continues to function PASSENGERS at peak capacity. SERVED IN 2017

• The airport served 24,199,351 passengers in 2017 10 AIRLINES & AFFILIATES • SLC International ranks 23rd busiest in North America and 85th busiest airport in the world in 370 terms of passenger numbers DAILY COMMERCIAL DEPARTURES • There are approximately 370 scheduled, commercial departures from SLC International each day, 23rd serving close to 98 cities with BUSIEST AIRPORT IN non-stop flights NORTH AMERICA

COLLIERS INTERNATIONAL Hotel Development Portfolio | P. 36 UTAH’S TECH CORRIDOR UTAH IS A THRIVING TECH-HUB Utah’s “Silicon Slopes” refers to the cluster of information technology, software development, hardware manufacturing and research firms SALT LAKE CITY RANKED that have emerged along the Wasatch Front. Utah is nationally recognized as a leading technology #1 hub. In fact, the demand for workers among the growing CITY POISED TO BECOME NEXT list of tech companies is out-pacing the supply of the Utah TECH MECCA workforce. (FORBES) TECH EMPLOYMENT • Utah is ranked #1 one in innovation and IN UTAH GREW entrepreneurship, #2 in high-tech performance, and #3 in economic performance by the U.S. Chamber of 16% 2012-2017 Commerce Foundation (UTAH TECHNOLOGY COUNCIL)

• Tech companies have flocked to Utah for its lower OVER taxes, more flexible regulatory environment, and a well- 5,500 educated, multilingual workforce TECHNOLOGY RELATED COMPANIES IN UTAH (ECONOMIC DEVELOPMNET • Utah’s tech workforce is fed by major technology and CORPORATION OF UTAH) research universities: University of Utah, Brigham Young BETWEEN 2012-2017 University, and Utah Valley University, all of which offer OVER programs intended to develop young entrepreneurs $4.2 • Utah has high concentrations of Software Developers, BILLION OF VENTURE CAPITAL Web Developers, Computer and Information Research WAS INVESTED IN UTAH (UTAH TECHNOLOGY COUNCIL) Scientists, and many other IT related occupations

• Utah is one of the top states in the nation for software and information technology employment with an employee base of over 66,000 people

COLLIERS INTERNATIONAL Hotel Development Portfolio | P. 37 SILICON SLOPES SOME TECH COMPANIES DOING BUSINESS IN UTAH

Develops multimedia and A business software developer An online survey, market In June, 2017 the online social The 3rd largest manufacturer creativity software products, aimed at providing a data research, and consumer and networking service announced of flash memory including and employs over 17,000 platform for easy access and employer feedback software plans to build a 1-million SF memory cards, USB flash employees worldwide decision making, specializing in developer. data center in Eagle Mountain, drives and solid state drives. business intelligence tools and Utah. Bringing $750 million in Completed a 280,000 SF data visualization Headquartered in Provo, Utah capital investment, including Acquired by Western Digital in campus in Lehi, UT in 2012 & Seattle, Washington more than $100 million in 2016 for $19 billion which houses about 1,200 Headquartered in American In November 2018, it was infrastructure that will help to employees Fork, Utah announced that it would be support additional economic Recently announced plans to acquired by SAP for $8 billion development in Eagle Mountain expand their facility which will in an all cash deal and the surrounding area. more than double their Utah Fortune 500 company that workforce provides cyber-security software and services Specializing in developing enterprise hardware and software, in addition to An online retailer that offers its database management systems customers an opportunity to In Utah, ebay operates shop for bargains conveniently, customer service, technology A joint venture between Intel Oracle is one of the world’s while offering its suppliers development of software tools, Develops Enterprise work and Micron, manufactures and largest corporations in the tech an alternative inventory human resources, and the legal management software develops flash memory used industry. distribution channel and finance departments. in mobile phones, hard drives, Headquartered in Lehi, Utah tablets, and computers. Headquartered in Midvale, Utah Operates a 241,000 SF facility in Draper, Utah Headquartered in Lehi, Utah

The world’s largest online resource for family history Provides software for An online education company Headquartered in Lehi, Utah professionals involved in The world’s largest software that offers video training estimating all phases of maker by revenue, It develops, courses for software A smart home services building and repair. Xactware is manufactures, licenses, supports developers, IT administrators, provider that offers security a sister company of Versick and sells computer software, and creative professionals systems, fire detection, and consumer electronics, personal other home automation Headquartered in Lehi, Utah computers, and related services Headquartered in Farmington, systems Utah Headquartered in Provo, Utah

COLLIERS INTERNATIONAL Hotel Development Portfolio | P. 38 SLC’S NORTHWEST QUADRANT

GROWTH FORECAST FOR SLC'S NORTHWEST QUADRANT SALT LAKE CITY’S NORTHWEST QUADRANT HAS The Northwest Quadrant is an incredible economic and job 3,800 creation opportunity for Salt Lake ACRES Post Consumer Brands is City and will further secure its OF DEVELOPABLE LAND 34th largest employer (REDEVELOPMENT AGENCY an cereal manufacturer OF SALT LAKE CITY) in Utah by number of reputation as a worldwide business employees (2018) that operates a 901,000 SF hub. The Northwest Quadrant has distribution facility in the APPROXIMATELY UPS chose Salt Lake City’s Northwest Quadrant of Salt already attracted some major employers to the Northwest Quadrant for Lake City. area. their 840,000 SF Regional 60,000 Hub due to its proximity Some of its most renowned • The Northwest Quadrant is where the JOBS to the Salt Lake City cereal products include; CURRENTLY EXIST WITHIN OR International Airport and Grape-Nuts, Honeycomb, new state prison will be located, expected IMMEDIATELY ADJACENT TO Utah’s strategic one-day Malt-O-Meal and Honey THE NORTHWEST QUDRANT to be complete by 2020. Development is (SALT LAKE CITY - NORTHWEST and two-day trucking routes Bunches of Oats. connected to prison’s time-line to maximize QUADRANT MASTER PLAN) available state financing when the state builds the needed infrastructure for the new prison.

• The area shows further economic promise with the establishment of an inland port In 2018 Amazon began Swiss train manufacturer, Biomerics is a provider of authority. During the 2018 Legislative shipping and receiving Stadler Rail has selected innovative polymer solutions packages from a new Salt Lake City's Northwest for the medical device session, the Utah State Legislature passed a 855,000 SF fulfillment Quadrant as the site for and biotech industries. A bill to create an inland port authority. center in the Northwest its first permanent US manufacturer specialized Quadrant. manufacturing plant. in the design, development, • Additionally, companies like RC Willey, and production of medical The fulfillment center The company estimates that devices for diagnostic and Sephora, Costco Wholesale, Dannon, O'Reilly will employ around 1,500 the expansion into Utah will interventional procedures. Auto Parts, HunterDouglas. 1-800-Contacts workers. create up to 1,000 jobs over and The Church of Jesus Christ of Latter- the next 15 years Headquartered in Salt Lake Day Saints already operate distribution City, Utah centers in the Northwest Quadrant.

COLLIERS INTERNATIONAL Hotel Development Portfolio | P. 39 INLAND PORT UTAH’S INLAND PORT WILL ACCELERATE COMMERCE An inland port is a logistics and distribution hub that is located inland Seattle !5 Spokane from coastal seaports. Salt Lake City !5 Great Falls !5 Yakima Missoula is considered a premier location for an !5 !5 !5 inland port because of the international Portland Helena !5 Billings !5 airport, and the major interstate highway !5 Salem and rail lines already crossing through the region. !5 Eugene Business leaders have recognized the possible impact !5Boise Idaho Falls of an inland port for Utah’s economy. Inland ports !5 !5 Medford !5 Pocatello Casper!5 alleviate some of the pressure on coastal ports by !5 Twin Falls handling that distribution workload. Cheyenne Ogden!5 !5 Similar ports have been established in Kansas City, !5Salt Lake City 5 Reno !Provo Boulder !5 Missouri, Greenville, South Carolina, Tucson, Arizona !5 !5 Denver as well as many other places. Sacramento !5 !5 Colorado!5 Springs Grand Junction !5 • Salt Lake City’s inland port development has !5San Francisco Pueblo

been billed as the state’s largest-ever economic St George development project !5Fresno !5 Las!5 Vegas Santa Fe Bakersﬁeld !5 • The inland port is planned to be a 20,000 acre !5 Flagstaﬀ !5 !5 import-export hub in Salt Lake City’s northwest Albuquerque quadrant !5Los Angeles Phoenix !5 • Salt Lake County has a logistical advantage of San Diego !5 Tucson being close to every major western port and !5 !5Las Cruces population center, with current road and rail 0 35 70 140 210 280 350 infrastructure already in-place Miles

• Utah’s inland port will be a designated foreign- trade zone

COLLIERS INTERNATIONAL Hotel Development Portfolio | P. 40