Somebody bought the property between Denny’s and Wendy’s on Tooele City’s Main streets from the City for a potential strip mall, according to City officials.
But there’s no groundbreaking date set for the mall.
The property was sold by Tooele City to the Kimball Investment Company Salt Lake city-based commercial development group, according to Jared Stewart, Tooele City economic development director.
“It has been a couple months since we spoke to them but they did mention they had some good leads,” Stewart said. “They were negotiating letters of intents with several businesses, but they didn’t say which businesses, and expected that actual development would happen around 2024.”
Stewart said this information is subject to change.
Collier International, a commercial real estate brokerage, professional services and investment management company, for landlords, tenants, and investors has a sign on the property advertising retail space for lease.
Tooele City’s Redevelopment Agency bought the property for $5.1 million in 2015 from Gilad Development to assure the site — deemed a prime commercial/retail location in the city — wouldn’t be developed exclusively for residential use.