The region is well established as one of the region’s industrial real estate powerhouses
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Oxford Properties Group has announced Canada’s first ever multi-level industrial building, which will arise in Burnaby, BC.
The building, which will be situated at Oxford’s 65-acre Riverbend Business Park, will be offering as much as 707,000 square feet over two levels.
The ground floor will feature 437,000 sq. ft. with 32-foot clear heights, while the second level will be offering 270,000 sq. ft., along with 28-foot clear heights and a 130-foot truck court. The second storey can be reached by full-size transport trailers, thanks to a heated ramp.
Said construction will be a valuable addition to the five industrial buildings already established in the park, Oxford head of industrial Jeff Miller told Postmedia.
“This will be the first of its kind in Canada,” Miller stated. “They have been built globally for 20-plus years, but only in the past couple of years have they received quite a bit of attention in North America.”
“You [will] have two independent well-functioning buildings that just happen to be stacked on top of each other, with the ramp,” he added. “If you look at where multi-storey buildings have been built globally and where they may be built now in North America, you really need to start with land scarcity and expensive, very high barriers to entry… Vancouver definitely is one of the first [regions] that checks the boxes as far as economics and land scarcity in North America.”
Construction is expected to start by the second quarter of next year, with completion slated for 2022.
