CentrePort, Manitoba’s massive 20,000-acre inland port and Foreign Trade Zone, is seeing an influx of private and public-sector investments this year as it continues to expand as the largest trimodal inland port in North America.
More than 600,000 square feet in new construction is underway and close to $70 million worth of building permits have been issued so far this year in the port, located in the rural municipality or Rosser, according to CentrePort Canada Inc.
Also, the province recently committed $40 million towards the expansion of services the port, which provides access to rail, truck and air cargo operations at sites in Rosser and Winnipeg. The federal government and the City of Winnipeg have increased infrastructure support by a total of another $40 million.
“Manitoba is open for business, and we are thrilled to see this significant development move forward that will play an integral role in our province’s long-term economic growth,” said Cliff Cullen, Manitoba deputy premier and minster of economic development, investment and Trade.
Highlights of development at CentrePort in 2022, include:
• BrookPort Business Park: Seventeen companies have purchased lots in the latest 90-acre phase of BrookPort Business Park, developed by Whiteland Developers. All three phases of the Park are sold out, totaling 260 acres.
• CentrePort Canada Rail Park: The 193 acres of the 665-acre rail serviced industrial park has been subdivided and rezoned to I3 (heavy industrial) and is in active development by Focus Equities Inc.
• MMI Asset Management broke ground on Steele Business Park in 2020. The first phase of 80,190 square feet is now 70 percent leased and the second phase of 66,200 square feet will be ready for occupancy by the end of the year.
• West Creek Industrial Park: This new industrial park by Hopewell Development will bring nearly 300,000 square feet of industrial space for lease to the market. Two buildings are under construction and will be ready for occupancy in Q2 2023.
Currently, there are over 2,000 acres under development within the CentrePort footprint. Demand for new industrial space within the capital region of Winnipeg has shown no signs of slowing down and is expected to continue.
The Winnipeg region has a tight industrial vacancy rate of 1.5 per cent, according to Colliers, and, as of the third quarter, 1.58 million square feet had been leased or sold this year.
“Over the last five years, we have seen over $350 million worth of building permits issued within CentrePort,” said Diane Gray, president & CEO, CentrePort Canada Inc.
Major projects on the horizon include the servicing of City of Winnipeg lands within CentrePort, the development of a 500-acre residential area, and the construction of the 665-acre CentrePort Canada Rail Park in the RM of Rosser, Gray added.
