The multi-tenant retail development center is 77 percent leased after Mo' Bettahs signed on to join, as well as Beans & Brews Coffee House.
(Commercial Executive Magazine photo)
Evergreen Devco Inc., a leading retail and multifamily development company, announced on June 5 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 of 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 planned to break ground on the planned 5,500-sq.-ft. 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.
For more information, call 801/453-6815 or visit www.evgre.com.