Suburban Land Reserve
is now accepting offers...

...on approximately 410 acres of land near Park City in Summit County, Utah. This piece of property provides an opportunity where location, proximity to amenities, and natural aesthetics can be combined to create a truly exceptional development.

This property is the ideal location for a large mixed-use development, high-end residential community or even an office park with corporate headquarters. Park City enjoys 2.3 million visitors a year who spend an approximate $701 million. Park City is a unique area where visitors can leave the Salt Lake International Airport and be at three world-class mountain resort within 30 minutes. This unparalled convenience combined with superlative amenities explain why 40 percent of Utah skier days occur at one of three Park City ski resorts.

Any retail development will benefit from nearly 30,000 ADT along the property frontage. This is expected to increase to 50,000 ADT by 2020. Vibrant retail already exists in adjoining developments, and any retail development on the property would only add to the approximate 1,300,000 GLA in the Park City area. Retail development is further justified by an average household income of over $80,000 within a 10-mile radius. The secondary trade area includes over 1.7 million people within Salt Lake, Utah, Davis and Weber counties.

This property also provides an ideal location for a high-end residential community. Housing prices in the Park City area have escalated drastically in the past 10 years. Between 1995 and 2000 housing prices increased at a rate of 11 percent annual to a median price of $465,600. During that same period, multi-family residences increased at an annual average rate of 19 percent. Currently, the average sales price for a single family residence in this area of Park City (known as Kimball Junction) is $1,709,213 and $427,299 for multi-family.

Beauty and opportunity surround this property in every direction. The Kimball Junction property is located on the western side of State Highway 224 right off the Kimball Junction exit of Interstate 80. Immediately to the south of the property is the Utah Winter Olympic Park, which served as the 2002 Olympic venue for ski jumping, nordic combined, bobsled, skeleton and luge. This park provides the world’s highest altitude ski jump as well as the fastest sliding track. The shopping epicenter for Summit County and Park City is found immediately to the north and includes the Tanger Factory Outlet Center and the upscale Redstone Center. The pristine character of the property is protected on the east by the Swaner Reserve and on the west by the Wasatch Mountain Range and the High Ute Ranch Open Space Preserve. These preserves protect in perpetuity the beautiful views of the Snyderville Basin. If location is everything in real estate, this piece of land is truly unique (see Google Earth coordinates of 40º43’17.85” N and 111º 32’51.60” W).

Please contact Carl Duke with any questions.

Carl Duke
(801) 321-7510

Contact Info:

Carl Duke,
Manager
(801) 321-7510

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