Oxford Properties is developing the first large-bay, multi-storey industrial property in Canada — a two-floor, 700,000-square-foot complex in Burnaby, B.C.
“[Metro] Vancouver is one of the tightest industial markets in the world and space is in short supply,” noted Jeff Miller, head of industrial at Oxford, adding the industrial shortage demands “bold solutions.”
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 ramp, consists of 270,000 square feet, 28-foot clear heights and a 130-foot truck court.
Anticipated for completion in 2022, the Riverbend Business Park building can provide 707,000 square feet of contiguous space, making it the largest available industrial property in Greater Vancouver. Conversely, the two floors can be occupied independently to accommodate multiple tenants as small as 70,000 square feet.
Light industrial space in Vancouver has been built as high as four storeys, but Oxford’s project is the first conventional industrial project with multiple floors.