Offered by: RONALD J. SHARP & ASSOCIATES

Robert Holmes Associate Broker robert@rjsinc.com • 435.640.6367

Kahrin Holmes kahrin@rjsinc.com • 435.640.5370

PARK CITY, UTAH8.37 ACRE COMMERCIAL DEVELOPMENT PARCEL

ENTITLED FOR FIVE MULTI-USE BUILDINGS

TOTALLING 209,990 SF GROSS

122,432 SF LEASABLE/ SALABLE

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

SILVE

R CRE

EK

BUSINES

S PAR

K

PARK CITY STORAGE

HWY 40

TO I-80

BLDG. C

BLDG. B

BLDG. A

BLDG. D

BLDG. E

FRONTA

GE RD.

DRIVE-THRU

UNDERGROUND PARKING

UNDERGROUND PARKING

LOCATION & ACCESSIBILITYThe property is located approximately 25 miles east of Salt Lake City and is within 50-minute drive of most major cities in the Salt Lake Valley.

The property is located off exit 2 on Highway 40. Highway 40 is a primary thoroughfare connecting Park City to Heber City and Wasatch county.

Interstate 80, the major thoroughfare connecting Salt Lake City to Park City is located less than one mile north of the property.

The Salt Lake City International Airport, which accommodates an estimated 21 million passengers per year and is a hub for Delta Airlines, is located approximately 34 miles west of the property. A $1.8 billion expansion is planned for the airport and is expected to be completed in 2024.

SALT LAKE CITY

PARK CITY

PROVO

15

70

80

U TA H

HEBER CITY

SEATTLE

SAN FRANCISCO

SAN DIEGO

PHOENIX

DALLASATLANTA

ORLANDO

NEW YORK CITY

CHICAGO

FLIGHT TIMESfor SALT LAKE CITY INTERNATIONAL AIRPORT:

ATLANTA ...............................3:40 HRSCHICAGO ..............................3:01 HRSDALLAS ..................................2:30 HRS

ORLANDO ............................4:20 HRSPHOENIX ..............................1:31 HRSNEW YORK ..........................4:27 HRS

SAN DIEGO ..........................1:54 HRSSAN FRANCISCO ..............1:42 HRSSEATTLE ...............................1:54 HRS

TRANSPORTATION NETWORKPark City operates a free intra-city transit system which includes regular bus routes and a trolley that runs the length of main street and connects with the Old Town Transit Center. Additionally, the Utah Transit Authority (UTA) operates a Park City to Salt Lake City Connect line, which provides bus transportation from the Salt Lake Valley through Parleys Canyon to Park City. With a 1,400 square mile service area spanning six counties, UTA provides public transit (bus, Trax light rail and the

new Frontrunner commuter rail) to 75 percent of Utah’s population and some of the state’s largest communities including Salt Lake City, Ogden, Provo, and Tooele.

Located within a 45-minute drive is the Salt Lake International Airport, the closest major airport serving Park City. The Salt Lake International Airport is served by seven airlines and their affiliates including American, Delta (hub), Frontier, Jet Blue, Southwest, United and US Airways. The airport accommodates approximately 21 million passengers per year and was recently named the most “on-time” airport in all of North America by FlightStats.

• Forbes Magazine released its annual BEST STATES FOR BUSINESS AND CAREERS ranking Utah #1 for the 3rd consecutive year. Rankings are based on six primary categories: business costs, economic climate, growth prospects, labor, quality of life and regulatory environment.

• Utah was named the TOP STATE FOR ECONOMIC OUTLOOK for the 5th consecutive year by ALEC-Laffer State Economic Index; “Rich States, Poor States.”

• Business Facilities Magazine ranked Utah #1 overall for its PRO-BUSINESS CLIMATE.

• Utah ranked #1 in TECHNOLOGY CONCENTRATION AND DYNAMISM COMPOSITE INDEX.

P A R K C I T Y

TO SALT LAKE CITY

TO HEBER CITY

80

KIMBALL JUNCTION

40

DEER VALLEY RESORTPARK CITY RESORT

As the Silver Summit area evolves, there is a growing need for community-based services to be located conveniently within this neighborhood. Lot 10 in the Silver Summit Business Park is an ideal location for such services.

The approved shops and residences at Silver Summit will be a vital community gathering place with shops, restaurants, specialty stores, professional office suites, and 50 apartments.

A transit stop on-site, along with direct connections to the growing bike path system of

Park City and immediate freeway accessibility will make this location ideal for connecting the neighborhood to the greater Park City community.

A neighborhood pocket park will be created to overlook the existing wetlands, expanding the natural landscaped areas to include a pond, grass lawn area and a children’s play area. By tying these new amenities to the bike path system, a new congregating area will emerge for social events, afternoon concerts, and residents to interact.

Fifty apartments, all with underground dedicated parking, individual storage lockers, large exterior

decks and beautiful views of the ski resorts, will bring much needed new rental units to the area. A second floor, covered, open-air, social area exclusively for the residents, with BBQs and community spaces, will invite social interaction between neighbors.

The approved design is made up of 5 unique buildings, with underground tenant parking, extensive landscaping, convenient visitor surface parking, and beautiful pedestrian areas that will create a much-needed set of social gathering spaces for the community.

New retail space will potentially draw restaurants

that overlook the park and pond. A coffee shop could be sited and open into a covered, two story open atrium area. A series of specialty stores will allow our local community to shop in our own neighborhood.

New professional office space will allow the growing community places to conduct business, conveniently tied to the Park City transit system with immediate freeway access.

The Village at Silver Summit will create a new live-work-play environment for a vibrant 24-hour community, helping other local residents, merchants, and services grow and benefit.

AN OVERVIEW

PARK CITY OVERVIEWPark 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 RECREATIONPark City is home to world-class entertainment ranging from mountain biking, hiking and snow skiing to open-air concerts, street fairs, festivals, gallery tours, and film screenings.

Known for its incredible winter snow and annual Sundance Film Festival, Park City draws crowds from all over the world with approximately 600,000 visitors per year. Throughout the summer, Park City hosts open-air concerts and plays, has over 100 restaurants and bars, as well as several area golf courses and year-round bobsledding at the Utah Olympic Park.

SUNDANCE FILM FESTIVALSince 1985, Sundance Film Festival has brought the world’s storytellers together for its annual ten-day program of dramatic and documentary films, media installations, performances, panel discussions and music events. Over 45,000 people attend the festival. Tourists account for approximately 65% of all Festival attendees. It is estimated that approximately 12% are 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 RESORTSUtah’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. Park City Mountain Resort and Deer Valley. Both resorts are always highly ranked in publications around the world.

PARK CITY MOUNTAIN RESORTPark City Mountain Resort combined with neighboring Canyons resort in July of 2015, creating the largest ski and snowboard resort in North America. Owned and operated by Vail, Park city Mountain Resort has 17 peaks, 14 bowls, 6 natural half-pipes, and 4 terrain parks spread over 7,300 skiable acres. In the summer, guests enjoy mountain biking, hiking, zip lines, riding the alpine slide and coaster, rock wall climbing, golf, fishing, and pedal boating.

DEER VALLEY RESORTDeer Valley is a ski-only resort with 6 peaks spread over 2,026 acres. Deer Valley resort operates 21 lifts that can accommodate 50,470 uphill skiers per hour. Known for its service and dining experience, Deer Valley is annually recognized as one of the top resorts in the world. Deer Valley offers hiking and scenic chair lift rides as well as horseback riding, paddle-boarding, mountain biking and outdoor concerts in the summer months.

• Utah was voted 8th on the BEST TRANSPORTATION INFRASTRUCTURE list by Business Facilities Magazine.

• The Association of University Technology Managers ranked the UNIVERSITY OF UTAH #1 and BRIGHAM YOUNG UNIVERSITY #3 (behind MIT at #2) for the number of RESEARCH-PRODUCED BUSINESS START-UPS they contributed to.

• Fortune Magazine named Salt Lake City one of the world’s 15 BEST NEW CITIES FOR BUSINESS.

• Kiplinger ranked Salt Lake City 5th in the nation for being one of the BEST CITIES FOR THE NEXT DECADE. The city is internationally recognized for its research in genetics and health sciences, and a hotbed of new business creation.

LOOKING TO THE FUTURE • Utah was

ranked #2 in THE NEXT

BOOM STATES by the U.S. Chamber of Commerce, June 2012. Utah ranked in the top five in all three job growth measures and second in business creation rate.

• Utah ranked #2 in AMERICA’S TOP STATES FOR BUSINESS by CNBC. Rankings are based on ten primary categories: cost of doing business, workforce, quality of life, economy, transportation and infrastructure, technology and innovation, education, business friendliness, access to capital, and cost of living.

ROBERT HOLMES | Associate Broker | robert@rjsinc.com | 435.640.6367 KAHRIN HOLMES | kahrin@rjsinc.com | 435.640.5370