PHOENIX, ARIZ. and SALT LAKE CITY, UTAH – Evergreen Devco, Inc., a leading retail and multifamily development company, announced today that it has formally acquired 1.036 acres of land at 855 W. State Road in Pleasant Grove, Utah. The re-development of a three-tenant retail building will bring a Mo’ Bettahs Hawaiian Style restaurant and a Beans & Brews Coffee House.
The future development site, which was sold by Utah County Properties, LLC, will be Evergreen’s first project in Utah since the company expanded last year into Salt Lake City—one of the nation’s fastest growing metropolitan markets, according to Forbes.
“We are excited to be able to break ground on our first Utah project since we’ve expanded to this market a year ago,” said Matt Nielson, director of acquisitions for Evergreen. “The Utah team has been working hard to build strategic brokerage and tenant relationships and this well-located property sits in a high-traffic retail zone and complements the surrounding high-quality stores, restaurants and amenities in the area.”
Evergreen plans to break ground on the planned 5,500-square-foot property in mid-June with an estimated completion date of November 2018. The multi-tenant retail development center is 77 percent leased after Mo’ Bettahs signed on to join with its seventh Hawaiian-style fast-casual place since opening in 2008, as well as Beans & Brews Coffee House who has more than 50 locations.
Retailers interested in learning more about leasing opportunities can contact Tyson Moore of Colliers International at 801-453-6815 or at firstname.lastname@example.org.
About Evergreen Devco, Inc.
Founded in 1974, Evergreen specializes in retail and multifamily development, tenant roll outs, project and construction management, property management, asset management, sustainable building and solving financing issues for various retailers and franchises. Evergreen is currently engaged in the development of more than 60 retail and apartment projects and has completed more than 500 projects. www.evgre.com.