Overstock is on track to open an iconic building in Midvale that showcases what founder Patrick Byrne is calling "the duality of man."
From the sky, the circular building will look like a massive peace sign, while the ground view will give the impression of a Roman coliseum.
"The coliseum speaks to the fact we’re for the long term, we’re bold, we’re proud, we’re established," Byrne said. "The peace sign is a reflection of the duality of man."
The 260,000-square-foot building with a price tag between $80 million and $100 million will be in the View 72 development, on7200 South between 700 West and 1000 West in Midvale.
Byrne is excited about the location for several reasons, including amenities such as a TRAX stop located essentially at the building’s doorstep, direct access to the Jordan River Parkway and easy access to Interstate 15 and Interstate 215.
Byrne had wanted an O-shaped building to represent his company’s logo, but after Apple opened its Frisbee-shaped building, he wanted something different. As he looked at the corridors that cross from the main circle into a large, glass atrium that houses the food court, he realized he could tweak them just a bit and make a large peace sign.
"It has a super view of the Salt Lake Valley, and we think it will be key to helping us recruit the best," Byrne said. "It will be iconic, and it will be just below the right wing of 22 million people a year as they land at the Salt Lake International Airport."
Christian Gardner, president and CEO of View 72 developer Gardner Co., is "excited" to have Overstock join the 200-acre, Class A office space complex.
"They are a great asset and contribution to that business park, with the iconic nature of the building, the energy and the synergy they bring," Gardner said. "Midvale City is very appreciative, as well."
Phillip Hill, Midvale assistant city manager and director of community and economic development, said he has not had anything yet filed about the new campus.
The deal has not yet been officially closed, though it is well on its way. Letters of intent have been signed, and both the developer and Overstock are attending to some due-diligence items before closing. Gardner said construction looks as if it will begin in late fall or early winter.
Other tenants in the park include the new headquarters for mining operation FLSmidth, supply-chain management company Savage and a state-of-the-art medical supply distribution center for Intermountain Healthcare, Gardner said. All the buildings in the park are LEED-certified, and there is a large, high-end apartment complex opening at View 72 as well.
"After Overstock signs in," Gardner said, "we probably only have 20 acres of the 250 acres left."
Overstock will keep 100 call center workers in Tooele and about 200 people at its warehouse near Bangerter Highway and State Road 201. However, the 500 office workers who are currently stationedat the Bangerter locationwill move to the new Midvale building, though the original space will be maintained for use as overflow if needed. Overstock’s Sandy campus, which currently has about 800 people, will close, and they will all move to View 72.
"It’s extremely notable, and we’re embracing the whole dot-com thing and having an open office,"Byrne said. "It will be the coolest place to work in Utah."
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