SYRACUSE -- The Ninigret Group, LC, has officially acquired 185 acres in Syracuse in preparation of developing a mixed-used development to be known as Ninigret Park North.
The Salt Lake City-based company has also named former Salt Lake County Mayor Peter Corroon to help manage the project.
Ninigret Park North is located in the northeast corner of Syracuse, bordered to the east by the Freeport Center in Clearfield, and sharing a border with the expansion of State Route 193, the only east-west highway connecting to the proposed West Davis corridor, U.S. 89 and Interstate 15, according to officials.
United States Cold Storage recently purchased 35 acres from Ninigret and is in the process of building a 140,000-square-foot, state-of-the-art refrigerated distribution and storage facility at Ninigret Park North, officials said.
The Ninigret Group is also in the process of developing 801 acres of property in Tooele County known as Ninigret Depot.
"Both Ninigret Depot and Ninigret Park North offer Ninigret a great opportunity to increase its asset base in areas where we see great growth potential," said Ninigret Chairman Randolph G. Abood.
The reduced amount of available commercial, industrial and residential properties in the greater Salt Lake City area, especially in the burgeoning rail- served businesses, is becoming more and more self-evident and integral to these two acquisitions, Abood said.
Ninigret also announced late Wednesday that Corroon has joined its team to assist in the management of the Ninigret Depot and Ninigret Park North projects.
"(Corroon) is a great addition to our Ninigret team, as he offers us a whole breadth of knowledge in the real estate markets and related governmental processes," Abood said.
"The best thing we can do for the businesses in our city is to develop a more robust customer base. Ninigret Park North will bring jobs, which will result in bringing a much-needed daytime population to our city," Syracuse Mayor Jamie Nagle said.
"I think this is great for the city, great for (Davis) County," Nagle said. "And we're fortunate to have such a high quality developer developing this project."
The Ninigret Group is a multifaceted real estate company with properties in Utah, Florida, Connecticut and Rhode Island. Abood has been in the real estate business for more than 30 years.