Northmarq secures $75,000,000 million construction loan for Copper Crossing 7 in Salt Lake City, Utah

SALT LAKE CITY, UTAH (May 2, 2022) – Nate Barnson, managing director in Northmarq’s Salt Lake City office, negotiated the $75,000,000 new construction loan for the Class-A industrial facility. The 655,360 sq. ft. structure is part of the larger master planned 485-acre logistics and manufacturing park, Copper Crossing at I-80. The park is located directly south of I-80 and within minutes of the Salt Lake City International Airport. The transaction was structured with a 12-year term on a 30-year amortization schedule after 4-years interest only and was arranged through one of Northmarq’s banking relationships.

Copper Crossing at I-80 will have 13 buildings at full build out with sizes ranging from 30,000 – 1,000,000 sq. ft. It is currently the only project in town offering rail-served sites with future plans for electric car and semitractor charging facilities.