- What GWL Realty Advisors is developing a 2m sq ft industrial project in Balzac
- Why The first phase is leased to Princess Auto
- What next Subsequent phases will be aimed at large-scale distribution tenants
GWL Realty Advisors is developing a warehouse north of Calgary that will span 2m sq ft of Tier 1 space.
The firm is building the industrial project, dubbed Stoney North Logistic Centre, on behalf of Great-West Life Canadian Real Estate Investment Fund No. 1.
The first phase, a 605,000 sq ft warehouse, is being built for tool and equipment company Princess Auto, which will occupy the property on a 15-year lease. The development, on 118 acres, is expected to be completed in 2026.
Stoney North will be aimed at large-scale distribution tenants requiring 40-foot ceilings, trailer storage and abundant loading doors.
Balzac is about 20 km from downtown Calgary, and the area is a distribution hub for Western Canada.
GWL Realty Advisors manages an $18bn portfolio with 30% of it invested in the industrial sector.
