- What Delphi Realty is looking to sell two plots of land in the Bayers Lake Business Park
- Why It’s a rare opportunity to buy a vacant parcel in the park
- What next CBRE Atlantic Canada’s industrial team has the assignment
Two parcels of Halifax industrial land are being shopped for $8.8m, Green Street News can reveal.
The plots of land, at 64 and 90 Dugger McNeil Drive in the Bayers Lake Business Park, total over 6 acres, with the valuation translating to $1.4m/acre. The larger parcel, 90 Dugger McNeil Drive, spans 4 acres, while 64 Dugger McNeil Drive measures over 2 acres.
The CBRE Atlantic Canada industrial team has the assignment on behalf of Delphi Realty. The properties are being marketed as a rare opportunity to buy one of the last remaining vacant parcels in the Bayers Lake park. The parcels can be bought together or separately.
The last land sale in Bayers Lake occurred in December, when Armco Capital sold nearly 3 acres at 145 and 191 Hobsons Lake Drive for $2.9m to Darya Investments. The price worked out to about $1.3m/usable acre.
Bayers Lake is one of the largest business parks in Atlantic Canada. The properties being marketed have an elevated position along Dugger McNeil Drive with visible exposure to Highway 2. The land is zoned for general industrial use.
The property is less than a kilometre to Highway 102, under 2km to the Highway 103 onramp, and about 6km to central Halifax. The PSA Fairview Cove Terminal is about 4km away.
Halifax’s industrial market fundamentals remain strong, CBRE said in a recent report. The market saw no new supply delivered in Q1 for the first time in four quarters, which allowed the market to absorb some of 2024’s record supply. Availability decreased for the first time since Q4 2023, dropping to 7.2% in Q1 2025.
