Oxford Properties Group has unveiled its plans to develop Canada’s first large bay multi-level industrial property.
Located at Oxford’s 65-acre Riverbend Business Park in south Burnaby, the building will have 707,000 square feet over two levels at the site of a former paperboard milling operation and a 14-acre landfill. Over 300,000 cubic metres of waste and debris was removed from the site and converted back into developable land.
Oxford purchased the land in 2011. The park is located close to the intersection of Marine Way and Highway 91A in Burnaby, next to the Fraser River.
The park already includes five industrial LEED certified buildings and the new development phase will also include an amenity pier that stretches out into the Fraser River and walking trails that connect to the public trail system.
“Vancouver is one of the tightest industrial markets in the world and space for businesses that service the region – be it through manufacturing, logistics or e-commerce – is in critically short supply,” commented Jeff Miller, head of industrial at Oxford Properties.
“This shortage requires bold solutions and progressive approaches, and we have studied innovative industrial projects from across the globe to inform our plan to develop Canada’s first multi-level property. By doing so, we can add density to the already established Riverbend Business park, a former brownfield site, without the need to encroach on greenfield or agricultural land.”
As the e-commerce revolution drives an increased need for supply chain and logistics innovations amongst traditional and online retailers, multi-storey industrial concepts have just started to emerge in other supply constrained markets such as San Francisco, Seattle and New York.
Oxford’s development will be on two levels. The ground floor comprises 437,000 square feet with 32-foot clear heights. The second storey, which is accessible to full size transport trailers via a heated ramp, consists of 270,000 square feet, 28-foot clear heights and a 130-foot truck court.
Anticipated for completion in 2022, Oxford is in the process of obtaining the required planning and permitting and has begun initial site preparation work.
“Over the last 10 years, we have built close to five million square feet of industrial space across Canada. Each park starts with a vision through collaboration with municipalities and stakeholders. We are excited to bring the first modern multi-storey industrial facility to Canada,” commented Rob Wheler, vice president of development at Oxford Properties.
The building at Riverbend Business Park can provide a single customer 707,000 square feet of contiguous space, making it the largest available industrial property in the Greater Vancouver Area.