This was some excellent news this morning, and hopefully a future indicator for Downtown SLC. The Trib. didn't have a rendering posted yet, but it looks like they'll have a pic available later today.
Barrick Gold leasing half of new Gateway building
The Boyer Co. already has a tenant for the five-story office tower it expects to start building next month on the north end of downtown Salt Lake City’s ever-evolving Gateway project.
Barrick Gold of North America has signed a long-term lease for 2½ floors, 50,000 square feet in all, at what will be known as Gateway Six, said Jake Boyer, president and CEO of The Boyer Co., developer of the $375 million Gateway project. The company is planning to move into that space in May 2012.
The five-story office structure will be built to receive silver LEED certification. LEED stands for Leadership in Energy and Environmental Design. The property has been a parking lot north of the outdoor mall and west of a Hyatt Place hotel.
Barrick Gold will occupy half of the building, with about 115 employees from its North American headquarters, which oversees several operating gold mines in Nevada, Montana and Canada.
Its parent company of the same name is based in Toronto and is the world’s largest gold-mining firm. In its 25 mines, Barrick’s website said, the company has 140 million ounces of gold reserves, 6.5 billion pounds of copper reserves and 1 billion ounces of silver.
In a news release, Barrick chief financial officer Blake Measom said Gateway was chosen for its location and amenities. “Easy access to the airport, the TRAX line and the freeway were important factors in our decision,” he said. ”Our employees will enjoy the convenience.”
One real estate agent who helped Barrick find a suitable and large enough location, Jack Woodward, of NAI West, predicted the lease signing bodes well for commercial office leasing possibilities in Salt Lake City.
“Since the recession started, commercial real estate has been one of the hardest-hit segments. As a result, new construction of office buildings had all but stopped which makes the groundbreaking of Gateway Six that much more significant,” he said.
Added colleague, Nick M. Teseros: “Because Barrick started its search process well in advance of the expiration of its existing lease, the company was able to drive construction of a 100,000-square-foot office building, which is unique in this economic climate.”
The original Gateway Six rendering, which was well received by most on the forum.