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Park City, Utah 8.37 Acre Commercial Development Parcel Entitled for Five Multi-Use Buildings Totalling 209,990 Sf Gross 122,432 Sf Leasable/ Salable

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Park City, Utah 8.37 Acre Commercial Development Parcel Entitled for Five Multi-Use Buildings Totalling 209,990 Sf Gross 122,432 Sf Leasable/ Salable PARK CITY, UTAH 8.37 ACRE COMMERCIAL DEVELOPMENT PARCEL ENTITLED FOR FIVE MULTI-USE BUILDINGS TOTALLING 209,990 SF GROSS 122,432 SF LEASABLE/ SALABLE Offered by: RONALD J. SHARP & ASSOCIATES Robert Holmes Associate Broker [email protected] • 435.640.6367 Kahrin Holmes [email protected] • 435.640.5370 Sales Price $8,100,000 LAND 8.37 Acre Development Parcel $22.22 / SF Gross Land Area $48.09 / SF Developable Land Area IMPROVEMENTS Recently approved entitlements for residential and commercial development of 5 buildings totaling 209,991 square feet gross/122,432 square feet leasable. $38.57/SF Gross Building Area $66.16/SF Net Leasable Area WATER 38.38 Shares (ERC’s) of Mountain Regional Water available for $403,489.00 ($10,513.00/ERC) I-80 (APPROXIMATELY 1 MILE) HWY 40 TO I-80 BLDG. D PARK CITY STORAGE BLDG. B HWY 40 UNDERGROUND PARKING DRIVE-THRU BLDG. A SILVER CREEK BUSINESS PARK UNDERGROUND PARKING BLDG. E BLDG. C FRONTAGE RD. SEATTLE SALT LAKE NEW YORK CITY CITY 80 PARK CITY • Forbes Magazine released its CHICAGO annual BEST STATES FOR BUSINESS AND CAREERS ranking Utah #1 for the 3rd SAN HEBER consecutive year. Rankings FRANCISCO CITY are based on six primary categories: business costs, PROVO PHOENIX economic climate, growth SAN prospects, labor, quality of life DIEGO ATLANTA and regulatory environment. DALLAS • Utah was named the TOP STATE FOR ECONOMIC 70 OUTLOOK for the 5th ORLANDO consecutive year by ALEC- Laffer State Economic Index; FLIGHT TIMES “Rich States, Poor States.” for SALT LAKE CITY INTERNATIONAL AIRPORT: Business Facilities Magazine ATLANTA ...............................3:40 HRS ORLANDO ............................4:20 HRS SAN DIEGO ..........................1:54 HRS 15 • ranked Utah #1 overall for its CHICAGO ..............................3:01 HRS PHOENIX ..............................1:31 HRS SAN FRANCISCO ..............1:42 HRS DALLAS ..................................2:30 HRS NEW YORK ..........................4:27 HRS SEATTLE ...............................1:54 HRS PRO-BUSINESS CLIMATE. • Utah ranked #1 in TECHNOLOGY LOCATION & Interstate 80, the major thoroughfare connecting CONCENTRATION AND ACCESSIBILITY Salt Lake City to Park City is located less than one UTAH DYNAMISM COMPOSITE mile north of the property. INDEX. The property is located approximately 25 miles east of Salt Lake City and is within 50-minute drive The Salt Lake City International Airport, which TO SALT LAKE CITY of most major cities in the Salt Lake Valley. accommodates an estimated 21 million passengers per year and is a hub for Delta Airlines, The property is located off exit 2 on Highway 40. is located approximately 34 miles west of the Highway 40 is a primary thoroughfare connecting property. A $1.8 billion expansion is planned for the Park City to Heber City and Wasatch county. airport and is expected to be completed in 2024. KIMBALL JUNCTION new Frontrunner commuter rail) to 75 percent of TRANSPORTATION Utah’s population and some of the state’s largest 80 communities including Salt Lake City, Ogden, NETWORK Provo, and Tooele. Park City operates a free intra-city transit system Located within a 45-minute drive is the Salt Lake which includes regular bus routes and a trolley International Airport, the closest major airport that runs the length of main street and connects serving Park City. The Salt Lake International with the Old Town Transit Center. Additionally, the Airport is served by seven airlines and their 40 Utah Transit Authority (UTA) operates a Park City affiliates including American, Delta (hub), Frontier, PARK CITY to Salt Lake City Connect line, which provides bus Jet Blue, Southwest, United and US Airways. The transportation from the Salt Lake Valley through airport accommodates approximately 21 million Parleys Canyon to Park City. With a 1,400 square passengers per year and was recently named the mile service area spanning six counties, UTA most “on-time” airport in all of North America by provides public transit (bus, Trax light rail and the FlightStats. TO HEBER PARK CITY RESORT DEER VALLEY RESORT CITY AN OVERVIEW Park City and immediate freeway accessibility decks and beautiful views of the ski resorts, will that overlook the park and pond. A coffee shop will make this location ideal for connecting the bring much needed new rental units to the area. could be sited and open into a covered, two story As the Silver Summit area evolves, there is a neighborhood to the greater Park City community. A second floor, covered, open-air, social area open atrium area. A series of specialty stores will growing need for community-based services to exclusively for the residents, with BBQs and allow our local community to shop in our own be located conveniently within this neighborhood. A neighborhood pocket park will be created to community spaces, will invite social interaction neighborhood. Lot 10 in the Silver Summit Business Park is an overlook the existing wetlands, expanding the between neighbors. ideal location for such services. natural landscaped areas to include a pond, grass New professional office space will allow the lawn area and a children’s play area. By tying The approved design is made up of 5 unique growing community places to conduct business, The approved shops and residences at Silver these new amenities to the bike path system, buildings, with underground tenant parking, conveniently tied to the Park City transit system Summit will be a vital community gathering a new congregating area will emerge for social extensive landscaping, convenient visitor surface with immediate freeway access. place with shops, restaurants, specialty stores, events, afternoon concerts, and residents to parking, and beautiful pedestrian areas that will professional office suites, and 50 apartments. interact. create a much-needed set of social gathering The Village at Silver Summit will create a new spaces for the community. live-work-play environment for a vibrant 24- A transit stop on-site, along with direct Fifty apartments, all with underground dedicated hour community, helping other local residents, connections to the growing bike path system of parking, individual storage lockers, large exterior New retail space will potentially draw restaurants merchants, and services grow and benefit. PARK CITY OVERVIEW Park City is the largest city within Summit County, Utah and is situated approximately 25 miles east of the Salt Lake Valley. According to the latest Census, Summit County was home to 36,324 residents with 7,558 of them living in Park City. Summit County enjoys a lower unemployment rate (3.0%) than the state (3.3%) and the national average (4.1%). Park City is famous for its annual Sundance Film Festival, the 2002 Olympic bobsled/skeleton/luge track at the Utah Olympic Park, as well as two world-class ski and summer resorts: Deer Valley and Park City Mountain Resort. Park City Mountain Resort which is owned and operated by Vail is the largest ski resort in North America. In 2008, Forbes Traveler Magazine named Park City among the 20 “prettiest towns” in the United States and in 2011, it was awarded a Gold-level Ride Center designation from the international Mountain Bicycling Association for its mountain bike trails, amenities and community. In 2013, Outside Magazine named Park City the best town in America. Many Salt Lake Valley residents visit Park City in the summer months to escape high temperatures resulting in Park City’s reputation as an upscale getaway, bringing new development to the area. Lying at 7,000 feet above sea level, summers in Park City are mild with chilly nights while winters are cold and snowy. The average temperature in Park City exceeds 90 degrees five times and drops below zero degrees twelve times per year. AREA RECREATION Park City is home to world-class entertainment PARK CITY MOUNTAIN RESORT ranging from mountain biking, hiking and snow Park City Mountain Resort combined with skiing to open-air concerts, street fairs, festivals, neighboring Canyons resort in July of 2015, gallery tours, and film screenings. creating the largest ski and snowboard resort in North America. Owned and operated by Vail, Park Known for its incredible winter snow and annual city Mountain Resort has 17 peaks, 14 bowls, 6 Sundance Film Festival, Park City draws crowds natural half-pipes, and 4 terrain parks spread over from all over the world with approximately 7,300 skiable acres. In the summer, guests enjoy 600,000 visitors per year. Throughout the mountain biking, hiking, zip lines, riding the alpine summer, Park City hosts open-air concerts and slide and coaster, rock wall climbing, golf, fishing, plays, has over 100 restaurants and bars, as and pedal boating. well as several area golf courses and year-round bobsledding at the Utah Olympic Park. DEER VALLEY RESORT SUNDANCE FILM FESTIVAL Deer Valley is a ski-only resort with 6 peaks spread over 2,026 acres. Deer Valley resort operates Since 1985, Sundance Film Festival has brought 21 lifts that can accommodate 50,470 uphill the world’s storytellers together for its annual skiers per hour. Known for its service and dining ten-day program of dramatic and documentary experience, Deer Valley is annually recognized as films, media installations, performances, panel one of the top resorts in the world. Deer Valley discussions and music events. Over 45,000 offers hiking and scenic chair lift rides as well as people attend the festival. Tourists account for horseback riding, paddle-boarding, mountain approximately 65% of all Festival attendees. biking and outdoor concerts in the summer It is estimated that approximately 12% are months. international visitors. Visitor spending during the festival accounts for over $70 million in gross state product and $36 million in earnings for Utah workers. TWO WORLD-CLASS SKI RESORTS Utah’s $1 Billion-a-year ski industry continues to see industry leading growth. Park city is home to two world-class ski resorts which are located within 10 minutes of each other.
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