The task of looking after Regina’s inland port – a facility that has the potential to revolutionize the city’s or even the province’s economy – has been awarded to Colliers International.
The Global Transportation Hub (GTH) consists of a 1,800-acre logistics park located near the city’s western outskirts on the Canadian Pacific main rail line and near the Trans-Canada Highway and Highway 11.
“This is the largest mandate we’ve ever undertaken,” said Richard Jankowski, Regina-based managing director at Colliers. “Our role is to look after the tenants that are there. We’re looking at ways to reduce costs from the existing infrastructure and we’re going to market the available land.”
Jankowski said its five-year contract is significant because the province is turning over a publicly created entity to the private sector to operate, manage and market.
There are currently 13 tenants in 1.5 million square feet of space in the GTH.
Matt Schroeder, acting president and CEO of the GTH, said Colliers was selected from a competitive process because of its track record of industrial land sales, marketing and property management. It also presented the best option for taxpayers.
“We are pleased to join forces with Colliers International to help unlock the potential of the GTH as a driver of trade and export development across Saskatchewan. Their expertise and depth of experience will help advance the GTH as a destination inland port and economic driver for all of Saskatchewan,” he said.
The Colliers announcement comes as the Regina bypass highway is about to be completed. Jankowski said the new road system will shift the focus of development to the city’s west side.