A Vancouver property developer is planning a new light industrial complex in 91原创 City near Production Way and 196th Street.
Hungerford Properties announced on Thursday, Feb. 9 that it has bought 5721B Production Way, a 3.83 acre site with two older industrial buildings construction in the 1970s.
Hungerford plans to replace the existing buildings with two multi-tenant light industrial buildings, totalling about 103,000 square feet of space.
鈥淭he site offers a strategic location with exposure to one of Metro Vancouver鈥檚 tightest industrial markets,鈥� said partner Michael Hungerford. 鈥淭he current vacancy rate in GVA鈥檚 industrial market is at 0.2% and 0.0% in 91原创 according to Colliers鈥� Q4 Industrial Market Report.鈥�
Hungerford鈥檚 announcement also noted that the site is 鈥渕inutes from the future 196th Street SkyTrain extension.鈥�
Hungerford hopes to work through getting a development permit this year, and start construction in early 2024.
READ MORE: 91原创 Red Robin re-opens at Willowbrook Shopping Centre
READ ALSO: New plan could re-imagine 91原创鈥檚 200th Street
Have a story tip? Email: matthew.claxton@langleyadvancetimes.com
Like us on and follow us on .
