Expressway Plaza - Spanish Fork, Utah County, Utah
Transcript of Expressway Plaza - Spanish Fork, Utah County, Utah
Spanish Fork - Utah
Expressway Plaza - Spanish Fork, Utah County, Utah
Key Facts• Explosive population growth in Spanish Fork and
Utah County• Property is at the front door of the 240-acre
Canyon Creek Commercial Center.• On busy US-6 less than a half-mile from
Interstate 15 interchange.• Large site with multiple expansion opportunities.
Spanish Fork - Utah
LocationSpanish Fork• Spanish Fork is located in
Utah County, Utah.• Located at the intersection of
Interstate 15 and US-6.• 9 miles south of Provo, home
of BYU.• 50 miles south of Salt Lake
City.
TLM Site
TLM Site
Location
Spanish Fork - Utah
DowntownSpanish Fork
TLM Site
Spanish Fork• Commercial Development for
Spanish Fork is concentrated at north end of City, along US-6 near Interstate 15.
• Expressway Plaza is located on US-6 at Expressway Lane.
• Traffic count on US-6 in front of shopping center is 26,000 vehicles per day.
• Interstate 15 volume at US-6 interchange is 80,000 VPD.
US-6
I-15
Spanish Fork - Utah
Explosive Growth in Recent Years
0.77% 0.77% 0.76% 0.75%
1.48% 1.42%1.67%
1.38%
2.02%1.80%
2.28%
1.64%
3.16%
1.37%
1.87%1.75%
0.00%
0.50%
1.00%
1.50%
2.00%
2.50%
3.00%
3.50%
2011 2012 2013 2014
Annual Population Growth
U.S. Utah Utah County, UT Spanish Fork, UT
Population Growth*• Utah County was among the
top 100 fastest growing counties in the US from 2010-2014.
• In the past four years. Growth in Spanish Fork has outpaced the US average growth rate by more than 300%.
• Even in fast-growing Utah, Spanish Fork and Utah County are growing 33% faster than the state average.
*Data from US Census and Mountainland Association of Governments
Spanish Fork - Utah
Explosive Growth in the FuturePopulation Growth*• Utah County’s population is
projected to grow by 60% between 2010 and 2030, adding 313,800 residents, more than any other Utah county.
• Spanish Fork’s population is expected to more than double between 2010 and 2050, adding 37,300 new residents.
8.13% 7.44%5.79%
32.46%
20.99%22.41%
27.72%
21.33%19.33%
0.00%
5.00%
10.00%
15.00%
20.00%
25.00%
30.00%
35.00%
2020 2030 2040
Population Growth Projections -‐ 2020 to 2040
United States Utah County, UT Spanish Fork, UT
*Data from US Census and Mountainland Association of Governments
Commercial Activity
Spanish Fork - Utah
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Commercial Activity in Spanish Fork• Walmart opened directly
behind property in March 2015.
• Costco opened across US-6 in October 2012
• Good Earth Natural Foods, Chick-fil-A, Five Guys, and others are currently under construction.
Canyon Creek Commercial Center
Spanish Fork - Utah
Canyon Creek Commercial Center• Regional shopping center
destination currently under construction.
• 240 Acre development includes health care, retail, cinema, and office uses.
• Anchored by Intermountain Health Care, Walmart, and Costco.
• Developed by Woodbury Corporation.TLM Site
Expansion Opportunities
Spanish Fork - Utah
Expansion OpportunityExpansion
Opportunity TLM Site
Site Opportunities• Currently a BigK Kmart Store.• Already developed site is
approved for commercial use and can be repurposed and redeveloped in a timely and cost-effective manner as compared to greenfield development.
• Numerous Expansion Opportunities.
Demographics
Spanish Fork - Utah
TLM Site
Demographics (Census: ACS 2013)• Population• 3 Mile: 45,623• 5 Mile: 76,664• 7 Mile: 97,881
• Average Household Income• 3 Mile: $71,363• 5 Mile: $73,884• 7 Mile: $73,064
• Households• 3 Mile: 12,334• 5 Mile: 21,236• 7 Mile: 27,365
Site Plan
Spanish Fork - Utah
Property Survey
Spanish Fork - Utah