Final Surge of Industrial Space Coming to Campbell Heights
Since last year’s Campbell Heights Industrial Development Activity Report, the total amount of new industrial space either in the planning/permitting process or already under construction has grown by nearly 80% with the amount of industrial lease space coming online almost doubling. The amount of land being serviced has remained relatively steady over the last 12 months. Most of the land (84 acres) is located in Campbell Heights East, the future home of the Walmart’s new distribution centre.
Visiting Campbell Heights today there is a moderate amount of construction underway but, when you account for the instream applications that are currently in process, there is a lot more coming online than meets the eye. The projects that are currently planned for the area will see this master-planned business park be all but complete. This means that we are experiencing one of the last large influxes of new inventory in Surrey, notwithstanding more land being designated for industrial development. You can find examples of many of these upcoming projects below.
What Campbell Heights’ new industrial inventory means for industrial businesses:
- There will be lots of options to choose from as the new inventory becomes available, especially for businesses looking to lease
- Aligning business needs and project timing will be key
- Established and growing businesses will move into new projects, freeing up space in older buildings
- New product will fetch higher lease rates and purchase prices which will drive up average rates and pricing for the whole Campbell Heights submarket
- Due to pent up demand, the new projects coming online are expected to sell out or be fully leased quickly
- Recommendation: if you are considering expanding or moving in the next 12-24 months connect with your industrial real estate broker for market intel and guidance for your business
What Campbell Heights’ new industrial inventory means for industrial developers:
- The opportunity to secure a developable site in Campbell Heights is becoming increasingly rare and expensive
- There is still some land currently awaiting servicing, but the bulk of that (84 acres) is in Campbell Heights East, where Walmart has already scooped up a large percentage of the land for their ~300,000 square foot distribution centre
what type of industrial space is coming to Campbell heights?
The coming years will bring a wide variety of industrial real estate opportunities to the market in Campbell Heights. This includes new strata complexes, a large influx of new lease projects, and industrial land that is being serviced for development. There are also several facilities that are being built by owner-occupiers and for build-to-suit leases. The map below highlights this variety by colour coding properties by development type. We have also included details on the projects slated for the numbered properties on the map, these project highlights can also be found below.
Campbell heights industrial Project Highlights
1. Thirty8 Ave Business Centre
19155 38 Avenue & 19168 39 Avenue, Surrey
- 2 industrial strata buildings totalling 147,544 sf
- Unit sizes: 8,407 – 10,480 sf
- Grade & dock loading
- Completion expected Q3 2020
- Built by Beedie
- Currently listed with Randy Heed Personal Real Estate Corporation and Chris Morrison Personal Real Estate Corporation of Colliers International
2. Future Lease Project
3825-3889 191 Street, Surrey
- Lease project totalling 89,783 sf
- Unit sizes: 27,359 sf – 89,783 sf
- Grade & dock loading
- Completion expected Q2 2021
- Currently listed with Darren Cannon Personal Real Estate Corporation and Andrew Lord Personal Real Estate Corporation of Colliers International
3. Myles Power Business Park
3757 190 Street, Surrey
- Strata project totalling 67,817 sf
- Available unit sizes: 7,945 – 12,057 sf
- Grade & dock loading
- Completion expected Q1 2020
- Built by Colony Construction
- Currently listed with Kyle Dodman Personal Real Estate Corporation and Todd Bohn Personal Real Estate Corporation of Frontline Real Estate Services Ltd.
4. Hayer Business Centre II
3568 191 Street, Surrey
- Lease project totalling 28,149 sf
- Unit sizes: 3,950 – 28,149 sf
- Grade & dock loading (unit dependent)
- Completion expected Q4 2019
- Built by Hayer Builders Group
- Currently listed with Joe Lehman Personal Real Estate Corporation, Garth White Personal Real Estate Corporation, and Ryan Kerr Personal Real Estate Corporation of Avison Young
5. Future Strata Project
19145 34A Avenue, Surrey
- 2 level industrial building
- Approximately 65,000 sf (total)
- Unit sizes: approx. 2,845 sf
- Grade loading
- Completion expected Q1 2021
- Built by Colony Construction
6. Vancouver Logistics City
192 Street & 36 Avenue, Surrey
- Multi-phase future lease & strata project
- Approximately 264,965 sf (total)
- Dock & grade loading
- Completion expected Q4 2020
- Built by Integrated Construction
- Currently listed by Craig Kincaid-Smith Personal Real Estate Corporation of Colliers International
7. Cedar Coast South Surrey
3577 194 Street, Surrey
- Large bay strata warehouse
- Unit sizes: 14,799 – 15,838 sf
- Grade & dock loading
- Completion expected Q1 2020
- Built by Cedar Coast
- Currently listed with Joe Lehman Personal Real Estate Corporation, Garth White Personal Real Estate Corporation, Ryan Kerr Personal Real Estate Corporation, and Mackenzie Forge of Avison Young
8. Future Multi-phase Lease Project
192nd Street & 32nd Avenue, Surrey
- 3 building lease project totalling 433,000 sf
- Available unit sizes: 10,500 – 136,000 sf
- Dock loading
- Completion expected Q2 – Q3 2020
- Currently listed with Randy Heed Personal Real Estate Corporation and Chris Morrison Personal Real Estate Corporation of Colliers International
9. Q1 Business Park
- Large bay strata project totalling 211,630 sf
- Available unit sizes: 11,784 – 27,403 sf
- Completion expected Q1 2021
- Currently listed with Garth White Personal Real Estate Corporation and John Eakin of Avison Young as well as Kyle Getty Personal Real Estate Corporation of The Getty Group
10. Future Large Bay Strata Project
19426 & 19468 32nd Avenue, Surrey
- Large bay strata project
- 112,473 sf total
- Available unit size: 12,733 – 23,234 sf
- Dock & grade loading
- Built by Cedar Coast
- Currently listed with Chris Brewster Personal Real Estate Corporation of Colliers International
11. South Surrey Business Park
2945 190 Street, Surrey
- 4 building lease project totalling over 700,000 sf
- Available unit size: 68,616 sf
- Grade & dock loading
- Completion expected Q2 2020
- Built by Hopewell
- Currently listed with Michael Farrell Personal Real Estate Corporation and Ryan Kerr Personal Real Estate Corporation of Avison Young
12. 27th Avenue Business Centre
19051 27 Avenue, Surrey
- Lease project
- Available unit size: 11,465 sf
- Grade & dock loading
- Completion expected Q2 2020
- Built by Beedie
- Currently listed with Chris Brewster Personal Real Estate Corporation and Chris Morrison Personal Real Estate Corporation of Colliers International
13. Future Multi-tenant Lease Project
18917 24 Avenue, Surrey
- Future lease project
- Approx. 273,264 sf (total)
- Grade & dock loading
- Completion expected Q2 2021
- Built by Choice Properties
- Currently listed with Joe Inkster Personal Real Estate Corporation and Chris MacCauley Personal Real Estate Corporation of CBRE
14. Campbell Heights East
28 Avenue (east of 194 Street), Surrey
- Draft development concept for 152 acres
- 84 acres of developable land
- Future home of new ± 300,000 sf Walmart distribution centre
If you would like more information regarding the Campbell Heights industrial market or the upcoming projects highlighted above, don’t hesitate to contact me.
Sources: City of Surrey
Site plans and renderings provided by: Orion Construction, Colony Construction, Integrated Construction, Colliers International, CBRE, and Avison Young.
