BC’s largest industrial developer buys 15-acre site near YLW

One of the last remaining large-format development sites in Kelowna’s core is now off the market.

British Columbia’s largest industrial developer, Beedie announced today that it is entering the Kelowna market with the “strategic acquisition” of 2050 Pier Mac Way.

The former gravel pit is a 14.7-acre site located right across Hwy 97 from Kelowna International Airport (YLW), beside Airport Village.

CBRE brokered the deal and said it’s the largest single-property industrial land transaction, by dollar value, in Kelowna’s history, but the real estate company would not reveal the sale price.

President Ryan Beedie called Kelowna a “key node” between BC and Alberta and expressed excitement for his company to enter the “highly impactful market.”

“With our roots and long-established work in BC, and our growing expansion into Alberta, it is truly the perfect fit for us,” explained Beedie.

“The Okanagan continues to see a huge amount of growth in the industrial and business sectors and we’re looking to support that growth with a very unique offering within the region.”

Beedie added that Kelowna holds a special place in his family’s heart and they have spent a lot of time in the region with relatives who live here.

His company’s future industrial development is expected to provide relief to a tightening Kelowna industrial market through a series of new strata buildings and built-to-suit development options.

According to CBRE, Beedie has successfully completed more than 35-million square feet of industrial construction across BC, Alberta and Ontario.

That includes state-of-the-art distribution facilities, federally-rated dairy plans and a jet turbine repair facility.

CRBE sales associate Travis Blanleil, whose team represented Beedie in this transaction, said this deal is indicative of the continuing rise in demand for industrial products in all parts of BC.

He explained that demand for light industrial, third-party logistics and food warehousing space in Metro Vancouver has soared as a result of COVID-19, which has forced companies to shift their focus to other markets like the Okanagan.

“Kelowna has become a viable and strategic market for companies looking to expand operations or set up new ventures,” noted Blanleil.

“With the rapidly-growing population in the Okanagan and demand for industrial space at an all-time high, Beedie’s new project will provide a unique opportunity for businesses to own their industrial space in a market experiencing a 1% vacancy.”

Blanleil added: “Introducing Beedie to the Kelowna market holds sentimental value with each of our family ties to the community and there is no better group to have to help grow the community, create jobs and provide opportunities for businesses in Kelowna.”