DRAWBRIDGE CONTINUES TO EXPAND ITS AIRPORT TECHNOLOGY PARK CAMPUS FOR L-3
Salt Lake City, UT- June 13, 2013: Drawbridge Realty Trust, LLC has commenced construction of an 88,461 square foot, two-story office and research facility in the Airport Technology Park located in Salt Lake City, UT. Drawbridge has owned the 90 acre Airport Technology Park campus since 1998. The 5.2-acre site, located at 560 North 2200 West, was previously undeveloped. L-3 Communications Corporation (NYSE: LLL) has pre-leased the first floor of the new building after recently expanding into another 40,000 square feet of space on the campus. L-3 is a niche defense contractor, specializing in surveillance and reconnaissance electronics and is one of Salt Lake City's largest employers. The company has committed to a long term lease for approximately 52 percent of the building, beginning in September of this year. When the construction of the new building is completed, the total square footage of the park will be 1,030,069 square feet on 90 acres.
"We are pleased that L-3 has continued to expand within the Airport Technology Park campus," said Mark Whiting, CEO of Drawbridge Realty Trust, LLC. "L-3's substantial investment in Airport Technology Park demonstrates their long term commitment."
Construction is expected to be completed in August 2013. The first floor of the building will be comprised of high technology microwave testing and laboratory space with supporting offices. The second floor is anticipated to be primarily office space. GSBS Architects, a firm with an emphasis on sustainability, designed the building. The general contractor is Sahara Construction Company.