Logistics and Industrial Services - Global Catalogue

SPOTLIGHT CANADA

Distribution Center Relocation 434,000 sf on 23 acres

Cushman & Wakefield Vancouver represented Leons/The Brick in a Metro Vancouver-wide search for either an industrial site to purchase or build-to-suit sale. The project was to relocate its existing Burnaby distribution center into a state-of-the-art building of 430,000 sf on 23 acres with 40’ clear ceilings and expansion capabilities. The challenge was to find a suitable site in a very limited market and have a building completed and ready for occupancy prior to the expiration date of its current lease in 24 months. SOLUTIONS • Completed an extensive search of available land for either purchase or build-to-suit • Assisted client in development of base building design criteria • Ran an extensive RFP process with complete analysis of responses • Prepared detailed financial analysis of joint venture / build-to-suit lease • Negotiated purchase and sale agreement for 50% interest in land, joint venture agreement, lease, construction contract, and property management agreement RESULTS • Sourced an optimum site with a well-established joint venture development partner • Engineered a joint venture and build-to-suit lease within a very short timeline, creating a true win-win transaction for the developer, the parent company, Leons, and the occupier, The Brick 29