PGIM and Dakota Pacific Real Estate (DPRE) have closed on a new joint venture and the acquisition of two industrial land parcels located near Bangerter Highway along California Avenue and 4400 West in Salt Lake City’s Northwest Quadrant and Inland Port.
The venture will immediately commence construction on a six-building, class A, spec industrial development totaling nearly 450,000 square feet, including dedicated yard space. The project is designed as modern small- and mid-bay industrial product, targeting a broad range of logistics, manufacturing, service, and distribution users in one of the region’s most supply-constrained submarkets. Initial deliveries are anticipated in early 2027.
Salt Lake City’s Northwest Quadrant continues to experience strong tenant demand driven by its central location, proximity to regional transportation infrastructure, and the limited availability of new class A industrial space. Vacancy across comparable small- and mid-bay industr
