Largest industrial park in Metro Vancouver seeks tenants

August 11, 2017 3:21 pm

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Site preparation for a $350 million, 170-acre industrial development in Richmond – said to be the largest industrial park to be built in Metro Vancouver – has begun but construction won’t start on its one-million-square-foot Phase 1 until the first tenants have signed on.

“We aren’t building on speculation,” confirmed Tom Land, CEO and president of Montrose Properties Ltd. of its Richmond Industrial Centre, though he concedes it wouldn’t be much of a gamble in one of Canada’s biggest and tightest industrial zones.

Richmond has 37.3 million square feet of industrial real estate, the most of any Metro Vancouver municipality, but only 2.1 per cent of it is vacant, according to Colliers International.

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