Wesbild along with Colliers team celebrates Marine Landing groundbreaking in prestigious business community.
Wesbild and its team celebrated a milestone in the development of its stacked industrial project, Marine Landing, in South Vancouver on Friday, March 4th. More than 70 people came out to the groundbreaking for one of Canada’s largest stacked, mixed-use industrial projects. Building One is almost 100% sold in its industrial offering, with Building Two sales to begin this spring.
A partnership with KingSett Capital, with marketing by Colliers and Rennie, Marine Landing offers a significant addition of 236 light industrial and office strata units on transit to a market facing extreme supply shortages. The design features two, six-storey stacked industrial and office buildings at 170,000 square feet each, with flexible strata workspaces ranging from 600 to 34,000 square feet. The smaller unit sizes provide appropriate floorplates for businesses with less need for physical square footage, but still require all the functionality and flexibility of a modern industrial space. The larger industrial units provide open-concept spaces ideal for businesses that need open areas and purpose-built industrial amenities.
The new complex is being built as industrial vacancy reaches an all-time low of 0.4% for the Greater Vancouver region in the first quarter of this year, according to Colliers’ data from Q4 2021. Asking rental rates for industrial space in the region having climbed 18.8% year over year, making this property attractive to future tenants.
Location offers competitive advantages
The property is perfectly situated to provide excellent commute times with only a six-minute walk to marine gateway shops, residences, and the Canada Line. Other perks include a five-minute drive to highway 99, a 10-minute drive to YVR International Airport and a 20-minute drive to downtown.
“The success of this project is partly attributed to the thoughtful design and some truly unique offerings for industrial strata including smaller units,” says Dan Jordan, Senior Vice President at Colliers Vancouver. “This is the kind of project the City of Vancouver has wanted to see with densification of job space, especially around rapid transit at Marine Gateway on the Canada Line. This is the future of Vancouver – the densification of businesses accessible by transit.”
Flexible design built to meet business needs
Design solutions were carefully incorporated to address challenges faced in other stacked industrial product on the market, including: micro-units under 1,000 square feet, high-end amenities including a 15,000 square foot rooftop patio with dog park, gym, end-of-trip cycling facilities, as well as three 8,000-pound capacity freight elevators, various loading areas and 8-foot-wide walkways.
Marine Landing is one of the first, new stacked industrial projects in Vancouver. Some additional project highlights include: oversized elevators, extra-wide corridors, at-grade and dock loading areas, wide loading bays, spacious delivery facilities to make logistics easier with more than 50 oversized parking stalls, 395 regular sized parking stalls, including 42 EV charging stations, large flexible lounge space for meetings, events and socializing, a full kitchen and more.
“We really took lessons from other stacked industrial projects on the market to fine tune this development’s appeal to a wide range of buyers,” says Jordan. “We created smaller units to accommodate small business for the first time and solved the challenges of going vertical. We’re excited to see the vision for this project coming to life, and to be part of creating a vibrant community of businesses.”
Those smaller units have been sold to several local companies including a fishing lure manufacturer, dental crown manufacturer, an action figure importer and fashion wholesalers. Breka Bakery is also setting up a new commissary and 24/7 café at Marine Landing.
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