Denciti Development, with Kadestone Capital Corp., has bought what is considered the largest undeveloped industrial site in the B.C. Sea-to-Sky community of Squamish.
The site at 38933 Queens Way offers 8.5 acres for development.
Denciti plans to develop the site with industrial space serving local manufacturing, technology, clean tech, green tech, and food processing companies, according to Denciti CEO Garry Fawley.
“Squamish is an excellent place to start or relocate a business and we look forward to providing high-calibre space where local entrepreneurs can thrive,” Fawley said.
Demand for industrial space in Squamish has surged over the past five years as the price of land has increased across the Lower Mainland.
“We’ve really got the perfect storm going here for industrial demand,” said Darren McCartney of RE/Max Sea to Sky Real Estate in Squamish. “I’m excited to see Denciti stepping up. With their expertise, this site will provide a steady supply of high-quality light industrial space that’s long overdue.”
Denciti is preparing plans for the site and expects to file a formal development application soon, Fawley confirmed.
Financial details of the land purchase were not provided.
This is just the latest major industrial acquisition by Denciti, which is known for joint-venture development of industrial strata property, and has a 40-year history of B.C. development.
The Vancouver-based company’s most recent industrial aquisition was 19748 86 Avenue in the Township of Langley, a six-acre parcel now home to Denciti's 90,000-square foot Langley Gateway strata industrial development, which sold out all 28 strata units in four weeks during May and June 2021 at prices from $425 per square foot.
