PLEASANT GROVE, Utah (PRWEB) February 01, 2018
St. John Properties today announced the liftoff of retail tenants locating in its master planned development known as Valley Grove. Four Foods Group is making good on their promise to expand in Utah County by closing on land for R&R Barbecue’s sixth location. Four Foods Group also has further plans to relocate their corporate offices this year to Valley Grove. Jersey Mike’s Subs has also signed a lease and committed to opening a store this quarter in Valley Grove. Valley Grove has executed letters of intent and is finalizing leases with Starbucks, Verizon Wireless and Thai Land restaurants with several other prospects in the process of selecting their location within Valley Grove.
“We are so pleased to be in the heart of Utah County in the fastest growing state in the nation,” said Brad Giles, Vice President of Acquisitions and Development for Four Foods Group. “St. John Properties is great to work with and the near freeway access of Valley Grove has growth and economic wellbeing written all over it.”
Valley Grove represents a $250 Million investment of St. John Properties in Pleasant Grove City. Over the life of the project, Valley Grove is anticipated to generate over $800 Million in tax revenue to the state, county and city, while hosting more than 7,000 employees. Space in existing Valley Grove buildings is rapidly being filled by businesses recognizing the development’s prized location and value.
"This new addition is right in line with our commitment to provide consumers and businesses a place to work, shop, play, and stay in Pleasant Grove", said Daniel Thomas, regional partner for St. John Properties. "With a shifting retail environment and location, location, location being vital for retail success, we are pleased to see the rapid rise of interest from local and national retailers in Valley Grove."
Valley Grove includes easy access to more than one million square feet of Class A Office, Restaurant, Retail and Hospitality destinations. Valley Grove, upon completion will include more than 2,000 trees. The greenery will accompany a selection of LEED designed buildings for maximum energy and water savings and minimize negative environmental impact.
Utah Valley Rising
Regarding Valley Grove, Governor Gary R. Herbert stated, “This project will contribute greatly to the already growing strong economic base in Utah Valley.”
About St. John Properties
Established in 1971 by Edward St. John, St. John Properties has evolved from a developer of commercial buildings into a long-term real estate investment company. Now in Utah, St. John Properties is attracted by the State’s economic strength, pro-business climate, quality of life, and projected growth. St. John’s new Valley Grove development in Pleasant Grove marks the company’s commitment to Utah’s quality of life with its 40th LEED certified commercial office building.