PROJECT
HIVE
Up to 109 acres, offered now as Phase 1 of a 900+ acre master-planned industrial and innovation hub. One of the last large manufacturing-zoned landholdings in the Salt Lake Valley.
Scale. Certainty.
Optionality.
Project Hive has advanced beyond the conceptual stage through extensive planning, infrastructure evaluation, and municipal coordination. That work establishes a framework while preserving meaningful opportunities for a partner to create value.
CuTerra, A Rio Tinto venture, is seeking a qualified development partner capable of helping maximize the long-term value of the property through thoughtful planning, capital deployment, and development execution.
- ·Preliminary Site Planning
- ·Roadway & Access Planning
- ·Infrastructure Evaluation
- ·Municipal Engagement
- ·Product Mix Strategy
- ·Building Configuration
- ·Development Phasing
- ·Capital Structure
- ·Up to 109 total acres
- ·Part of 900+ acre plan
- ·West Valley City, UT
- ·Zoned Manufacturing (M)
- ·Industrial dev. expertise
- ·Capital deployment capability
- ·Tenant relationships
- ·Long-term partnership mindset
The entry point to something
considerably larger
Phase 1 is what is being offered now. Up to 109 acres at the heart of a 900+ acre master-planned industrial and innovation development in West Valley City, with frontage on 5400 South and Highway 111.
The roadway framework, utility planning and horizontal cost basis are established. Product mix, building configuration, phasing and capital structure remain open for a partner to shape.
The Process
Pre-Qualification
An initial conversation with the Newmark team to confirm the opportunity fits your platform and to answer early questions.
Guiding Principles
Review the principles that frame any joint venture here, so alignment is clear before either side invests time.
Register & Acknowledge NDA
Create your portal account and accept the confidentiality terms that govern the diligence materials.
Data Room Access
Work through planning studies, infrastructure evaluations, municipal coordination records and site plans, with a channel for questions.
Submit Your Proposal
One complete submission covering qualifications, development strategy and proposed terms. Progress saves as you go and documents can be attached.
Review & Selection
Submissions are evaluated against the published criteria, with shortlisting and interviews ahead of final partner selection.
One standard for every submission
Financial capacity, delivery history, site and infrastructure readiness, entitlement experience, and public funding posture, showing whether this team can execute.
The site plan, product mix, and development goals proposed for Phase 1, and whether the vision fits the site and the surrounding master plan.
The proposed deal terms and pro forma, and how the transaction itself is structured.
How we approach the venture
These principles frame any joint venture for Project Hive. We share them up front so there is alignment with interested partners from day one.
Phase 1 of Project Hive is the starting point for a 900+ acre industrial park, adjacent to CuTerra’s significant land holdings on the west bench of the Salt Lake Valley. That position makes long-term portfolio and community value foundational to the venture.
CuTerra is seeking a partner with the capability to deliver high-quality industrial parks, and the vision, discipline, and foresight to invest in the long-term economic and community development of the west bench of Salt Lake.
The preferred partner will prioritize portfolio building, public partnerships, and long-term value appreciation. Significant weight will be given to the partner’s vision, goals, and demonstrated track record in achieving these outcomes.
CuTerra is not seeking a standard industrial park. We are seeking a partner that wants to move the needle and build upon an existing industrial ecosystem. Proposals that solely focus on data centers will face additional scrutiny, given the Salt Lake Valley’s constraints.
CuTerra intends to serve as the venture's non-managing partner, with formal provisions for management, reporting, and key decision rights. CuTerra is seeking a single partner for the venture.
Any project debt must be non-recourse to CuTerra and structured so it doesn't report to CuTerra's balance sheet. Following the initial joint venture capitalization, CuTerra also retains the right, but never the obligation, to fund future capital needs, preserving downside protection and control over how the venture grows.
Clear, pre-defined exit paths ensure neither party is left with stranded capital or locked into a governance stalemate.
CuTerra is seeking a mutually rewarding economic structure that works across build-to-spec, build-to-suit, owner-occupier, long-term hold, and merchant-build outcomes. Given the scale of the project, CuTerra isn't committed to a single development model.