Archive for the ‘St George Growth’ Category

Ft. Pierce Industrial Park will have an old…new business returning to it.

Viracon, a glass fabricator, closed it’s doors in 2013, with the hopes of opening its doors again within two years.

Opening Early Next Year

Officials announced that they plan to open in early 2015, and will be providing 300 jobs to the area over the next 10 years. . This is great news especially after the news that Blue Bunny Ice Cream was going to be closing their St. George facility in the Ft. Pierce Industrial Park due to the lack of ice cream sales.

Viracon will invest over 2 million to their current facility. Because of their commitment, the Governor’s Office of Economic Development (GOED) board said that they would allow nearly $1.5 million in post-performance Economic Development Increment Finance incentive.

Governor’s Office of Economic Development

There are several requirements that a company needs to meet in order to qualify for the tax credit. According to the GOED website, here are the requirements:

-Obtain commitment from local government to provide local incentives and establish an Economic Development Zone
-Enter into an incentive agreement with the Governor’s Office of Economic Development which specifies performance milestones.
-Create new high-paying jobs in the state
-At least 50 jobs in urban counties
-At least 125% of urban county average wage or 100% of rural county wage
-Generate new tax revenues.
-Significant capital investment
-Significant purchases from Utah vendors or suppliers

Viracon’s reopening will greatly improve the local economy by increasing jobs, reducing the vacancy rate amongst the industrial sector of commercial real estate in St. George, provide better wages for employees, and provide over $7million in sales tax, payroll tax, corporate taxes.

If you have any commercial real estate questions, contact Brandon Vandermyde at 435-627-5707 or by email att brandonv@naiutahsouth.com

PRESS RELEASE: Brandon Vandermyde of NAI Utah South represented the Seller of 1.22 Acres adjacent to the post office in La Verkin, Utah. The sale of this property marks one of the first land sales in La Verkin since 2006. The new owners of the land have plans to open an American Style restaurant as soon as possible.

Stage Coach Grill will offer traditional American food, served the way it should; with fresh vegetables, local meat, homemade french-fries, and tailored to make it affordable for the family. The new owner, George, said that he is creating the restaurant to serve the local people in the area, and when tourists stop in on the way to Zion, they will be a welcomed addition.

George has over 40 years in the restaurant business in both Greece and in the United States. He is excited to get started on the restaurant, and wants people to contact him with any questions they may have. He can be reached at 435-635-7400.

If you’re looking to invest in St. George commercial real estate, now is the time. Call me to get a listing of our properties (435) 319 – 8131.

Iron Man 70.3 Lifts Local Economy to the Tune of 5.5 Million

Last month Ironman 70.3 came through St. George for the fifth time bringing the most profitable returns yet. For local business and potential business owners, this is good news. The continued event offers hope for more growth in the future for those looking to invest in commercial real estate.

St. George hosts a variety of events throughout the year because of its spectacular views and year-round warm weather. It’s also why many businesses are expanding or starting in sunny Southern Utah. With its great location next to I-15 it has become a planned stop for tourists and travelers, making it a hotspot for business owners and entrepreneurs.

Hotels, restaurants and shops benefit the greatest from the events, but when the economy grows everyone feels the positive effects. And commercial real estate is no exception. In 2013 our office reached just under 1 million square feet in transactions encouraging more business owners to trust the NAI brand.

With more events being scheduled the economy in Washington County is sure remain strong.

As one of the largest commercial real estate brokerages in Southern Utah we can help you start your business in a space and location that help you reap the benefits of the national events held here. Don’t wait, give us a call.

The residential market has continued to show strength in Southern Utah. New construction has been flourishing and new homes under $300,000 have been selling quickly. The construction market typically falls 12-18 months behind the residential sector. The commercial market has seen the vacancy numbers decrease consistently over the past 6-12 months, and that will have to continue for the next Read More…

Ft. Pierce Industrial Park in St. George, Utah is starting to see more action now than it has in the past 4 years. Brandon Vandermyde of NAI Utah South recently sold an 8,000 s.f. building to a commercial real estate investor. Brandon was also responsible for selling three of the neighboring buildings, two to owner users, and one to an investor. “The Industrial Market is starting to see some great improvement” says Vandermyde. “ Companies like Family Dollar are starting to see why it is great to do business here, and an even better place to raise a family.”

Industrial vacancies are down substantially from where it was 18 months ago, and are excited to see more businesses come into St. George