INDUSTRIAL STRATA OWNER/USER & INVESTMENT OPPORTUNITY IN SOUTH BURNABY.
7415 LOWLAND DRIVE, BURNABY, BC
Union Allied is pleased to present High Point Park - a 4-building, 24-unit light industrial strata development with units starting from 3,062 square feet. This presents a unique opportunity for owner/users and investors to acquire sought-after industrial real estate.
Its central location close to vital highways and other major businesses and amenities make this an excellent opportunity to acquire a valuable industrial property in the growing Burnaby area. Construction is expected to start Q1 2023 and the project will be delivered in two phases, with phase 1 delivered in Q2 2024 and phase 2 delivered in Q2 2025.
As of Q4 2021, Metro Vancouver remains to be North America’s tightest industrial market for six consecutive quarters. Availability of space, land use issues, increased e-commerce demand due to the ongoing pandemic, and labour proximity have all been contributing factors in the rapid price appreciation of industrial assets and land. With the lowest vacancy rate in North America at 0.5%, the region’s average rental rate has increased by 97% in the past seven years and industrial investment has reached record highs in the same time frame, reaching $2.3B in 2021.
We are reimagining the possibilities of commercial, industrial and residential development with exellent ideas. We identify and invest in real estate in developed urban centres. By locating areas that exhibit drivers of intensification and generating real estate, we build valued properties.
Avison Young creates real economic, social and environmental value as a global real estate advisor, powered by people. Our integrated talent realizes the full potential of real estate by using global intelligence platforms that provide clients with insights and advantage. Together, we can create healthy, productive workplaces for employees, cities that are centres for prosperity for their citizens, and built spaces and places that create a net benefit to the economy, the environment and the community.