The Canada Pension Plan Investment Board bought a $200-million stake in Edmonton’s Henday Industrial Park.
- WAM Developments
CPPIB buys into Edmonton industrial park
The Canadian Pension Plan Investment Board (CPPIB), which funds Canadian public pensions, has spent $200 million for an 85 per cent stake in the Henday Industrial Park, a 250-acre development in northwest Edmonton, being developed by WAM Development Group and Walton Group.
The industrial park will be developed in two phases, with the first one to break ground this summer.
CPPIB said WAM and Walton will build a total of about four million square feet of distribution and logistics warehousing on the property.
In all, CPPIB now holds more than 112 million square feet of global commercial real estate, representing 18 per cent of its total investments. Canadian real estate makes up 15.1 per cent of CPPIB property holdings, with the United States accounting for 35 per cent.
From: GVest Private Equity LP, managed by Calgary-based Gracop Capital Advisors. GEVest announces the following partnership:
Deal: Toronto-based Forgestone Capital Management has taken a 50 per cent equity position, with GVest, in the 550,000-square-foot Tsawwassen Commons shopping mall, now under construction in South Delta, BC. Price: (estimated from sources) $80 million
From: Re/Max Front Street Realty, Penticton, B.C. Re/Max agent Vadim Kobasew sold the following:
Deal: 260-unit self-storage facility on 2.71-acre light industrial site, 43 Street, Vernon. Price: $4.5 million
From: Royal LePage Commercial, the Klein Group, Vancouver. Royal LePage agent Eugen Klein sold the following:
Deal: 41-pad modular home park on 6.7 acres, Fifth Street, Nanaimo. Price: $2.69 million.
From: Re/Max Crest Realty (Westside), Vancouver. Re/Max listing agents JT Lee, with Stephen Gammer of Re/Max Commercial and selling agents Sean Ungemach and Mike Thompson of Cushman & Wakefield, announces the following:
Deal: 56,400-square-foot industrial building on 2.60-acre site, Winston Street, Burnaby. Price: $7.12 million.
From: HQ Commercial, Vancouver. HQ Commercial reports the following sales: HQ agent Nhi Dennis sold the following:
Deal: 21,094-square-foot commercial land assembly for redevelopment of mixed-use, 12-storey tower, Kingsway Avenue, Vancouver. Price: $8.36 million.
Deal: 12,000-square-foot commercial land for redevelopment of four-storey mixed-use building, East Broadway, Vancouver. Price: $1.97 million.
Deal: 13,000-square-foot commercial building, Oak Street, Vancouver, for future redevelopment. Price $7.3 million.
HQ agents Nhi Dennis, Mark Goodman and David Goodman sold the following:
Deal: 5,149-square-foot, two-storey office building, West 72 Avenue, Vancouver. Price: $2.69 million.
Deal: 11,980-square-foot retail/office building, Sixth Street, Burnaby. Price: $2.25 million.
From: Frontline Real Estate Services, Surrey. Frontline selling agent Justin Mitchell, with buyer’s agents Dale Kirkland and Darren Leffers of Homelife Benchmark Titus Realty, reports the following:
Deal: 1.07 acres of residential land, in building lots, at 85 Avenue and 206 Street, Langley. Price: $3.57 million.
From: NAI Commercial, Vancouver. NAI agents Rob DesBrisay and Aleem Thaver sold the following:
Deal: 15,461-square-foot industrial building on one-acre lot, Fosters Way, Delta. Price: $3.75 million
From: DTZ Nanaimo Real Estate Ltd, Nanaimo. DTZ agent Gerry Van Vaals, PREC, sold the following:
Deal: Four-tenant industrial complex on 3.1 acre site with 3 separate buildings, Madsen Rd, Nanaimo. Price: $4.60 million.
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