New Industrial Strata Opportunities in the Fraser Valley

There is currently over 300,000 square feet of industrial strata warehouse being built across the Fraser Valley, all slotted for completion in 2016. This increase in strata inventory is due to an increase in demand, spurred by affordable financing. Many developers are now considering the option of building strata complexes, instead of building multi-tenant lease buildings. Strata complexes are an appealing venture for a developer as they don’t require the longer term commitment of management and leasing that multi-tenant buildings do.

One benefit of this new construction for businesses looking to purchase is that there is a large variety of options coming to market that can cater to businesses. One example of this flexibility is the final phase of Rymar Business Park, centrally located in Cloverdale just south of Highway 10, which connects Langley to Delta. If your business is a lighter industrial business that requires office space, assembly/recreational space as well as warehousing and storage, then this complex is ideal. Units start at 2,000 sf and have great potential for mezzanine build-outs for additional office space. The units also boast grade loading as well as high-quality glazing and window finishes. Rymar Business Park provides great flexibility for affordable office uses and flex-industrial requirements. Priced at $190 per square foot a 4,000 square foot unit has an estimated purchase price of roughly $760,000.

In Langley’s Gloucester Industrial Estates Beedie Development’s new development, Parkland Business Centre, is nearing completion. It’s emphasis is on distribution and logistics with the emphasis on truck maneuvering, dock and grade loading and access to the border and highway. If your business frequently has 53’ trailers and containers coming to your current location, Parkland Business Park would be the best option for you. Units range from 5,436 square feet to 11,447 square feet and 6 of the units are equipped with 2 dock doors and 1 grade loading door. All 10 units offer 26 foot clear ceilings and 200 Amp/600 Volt 3 phase power. Priced at $165/SF, the purchase price of a 5,500 square foot unit would be approximately $900,000.

Campbell Heights, the fastest growing industrial submarket in the Fraser Valley, is home to Twin Creeks, also constructed by Beedie Development. The units at Twin Creeks have an emphasis on loading efficiency, high ceilings and convenient access to the border. Located only 10 minutes from the Peace Arch border crossing, Twin Creeks is an attractive complex if you run a company that conducts lots of business in the United States. Each unit has 2- 3 dock loading doors and 1 grade loading door. The units start in the 7,000 square foot range with the option to purchase several units in a row to create a much larger unit. Twin Creeks is the cheapest new construction option on a per square foot basis, priced at $145/SF. This being the first of 3 phases at Twin Creeks, prices are expected to increase long term as each phase sells out.

Rymar Business Centre, Parkland Business Centre, and Twin Creeks are just 3 of the new developments coming to the Fraser Valley this year. With over 300,000 square feet of new industrial strata coming to market in 2016, interest rates being at all-time lows, and financial institutions providing 100% financing in some cases, it is an appealing time to enter into the strata market.

Todd Bohn

Personal Real Estate Corporation

view profile