Valley Grove Occupancy Tops 90 Percent Necessitating Expansion

PLEASANT GROVE, UTAH, UNITED STATES, September 29, 2022 — St. John Properties this week, joined by a VIP list of government and business leaders held a groundbreaking for yet another tower in Pleasant Grove, Utah. Once constructed, Valley Grove III will bring St. John Properties’ commercial real estate portfolio in Utah to over 1 million square feet. One of Utah’s hottest growth spots for business and residence, the massive investment is responding to extensive demand for Class ‘A’ office space in the center of Utah’s business corridor. Occupancy currently tops 90 percent. Gary Herbert, former Utah governor set the stage, offering insights as to Utah Valley’s stunning growth. At the event, key details and accelerated timeline for building completion were revealed, with occupancy expected in Q3 2023. Daniel Thomas, regional partner for St. John Properties Utah answered attendee questions regarding the company’s Utah expansion plans and provided detailed status for projects currently in development.

“I have great admiration for the St. John Properties team and leadership,” stated Gary Herbert. “What we see here today is another extension of St. John Properties’ vision when they considered investing in Utah. This is the best state in the nation to grow that vision.”

Local leaders have equally praised St. John Properties’ contribution to the economy. “We are thrilled with St. John Properties’ commitment to our growing community,” Pleasant Grove City Mayor Guy Fugal stated previously. “Their presence has contributed so much to quality of life in PG and has greatly assisted our city planning.”

The need for Utah’s office space is powered by the addition of more than 53,000 new jobs in the past year with all major job sectors seeing growth [Utah Department of Workforce Services]. Among many accolades, Utah was recently named 1st among states for economic outlook and 2nd for economic performance [www.richstatespoorstates.org].

“We are very pleased to serve more than 90 tenants across our Utah portfolio,” stated Daniel Thomas, Regional Partner for St. John Properties Utah. “Tenants choose Valley Grove due in part to its centralized location, accessibility to business communities, airports and residential areas and stunning outdoor environment.”

Development of St. John Properties’ Valley Grove began in 2017. Valley Grove III will mark the business community’s 22nd building, including Class ‘A’ office, flex/R&D, restaurants and retail buildings, which will house over 3,000 tenant employees.

About St. John Properties
Founded in 1971, St. John Properties, Inc. is one of the nation’s largest and most successful privately held commercial real estate firms. The company is distinguished by its commitment to customer service, achievements in green building, and top-rated workplace culture. Throughout St. John Properties’ 51-year history, the company has developed more than 22 million square feet of flex/R&D, office, retail, bulk space and has investments in over 2,600 residential units. Expanding regionally in four Utah communities, St. John Properties recognizes the State’s economic strength, pro-business climate, quality of life, and projected growth. For more information about the company, visit www.sjpi.com/utah.