St. John Properties Breaks Ground on $250M Valley Grove
📅 Tue August 29, 2017 - West Edition #18
St. John Properties hosted Gov. Herbert, company founder Edward St. John and more than 200 VIPs to the official groundbreaking ceremony of the master planned development known as Valley Grove. Construction activities began on the Grove office tower in April.
At the ground breaking the group celebrated the $250 million investment of St. John Properties in Pleasant Grove City. Over the life of the project, Valley Grove is anticipated to generate more than $800 million in tax revenue to the state, county and Pleasant Grove, while hosting more than 7,000 employees. Several of the presenters at the ceremony were current or future businesses at Valley Grove, including CBC Advisors, R&R BBQ and Instructure.
“We are thrilled with the pro-business climate and warm reception we've received in Utah,” said St. John, chairman and founder of St. John Properties. “We strive every day to provide places for great companies to grow their businesses, increase employment, generate profits and pay taxes.”
The number one commercial estate firm in Utah County, Coldwell Banker Commercial Advisors (CBC Advisors), announced its expansion and planned relocation to Valley Grove's Grove Tower, taking nearly 16,000 sq. ft.
“We are excited to expand our commitment in Utah County and establish our new Class A office in Pleasant Grove, located at the prestigious six-story Grove Tower,” said Brandon Fugal, chairman of CBC Advisors. “As the only full-service commercial real estate office in Utah County, our 50 professionals — and growing — offer the most cutting-edge market intelligence, and will continue to lead the market from this new location.”
Valley Grove includes easy access to more than one million sq. ft. of class A office, restaurant, retail and hospitality destinations. Valley Grove, upon completion will include more than 2,000 trees. The greenery will accompany a selection of LEED designed buildings for maximum energy and water savings and minimize negative environmental impact.
“We are thrilled with the pro-business climate and warm reception we've received in Utah,” said St. John. “We strive every day to provide places for great companies to grow their businesses, employ Utahans, generate profits and pay taxes.”
Utah Valley Rising
The state added 42,100 jobs between November 2015 and November 2016, according to the Utah Department of Workforce Services. Utah Valley's tech heavy Silicon Slopes are pulling the epicenter of population growth south of the state's capitol city as new jobs and new homes dot the Utah County landscape, according to the University of Utah's Kem C. Gardner Policy Institute. This is driving increased demand for office space in Utah Valley.
About St. John Properties
Established in 1971 by Edward St. John, St. John Properties has evolved from a developer of commercial buildings into a long-term real estate investment company. Now expanding in Utah, St. John Properties is attracted by the State's economic strength, pro-business climate, quality of life, and projected growth. St. John's new Valley Grove development in Pleasant Grove marks the company's commitment to Utah's quality of life with its 40th LEED certified commercial office building.