Amazon, GWL Realty Advisors Complete Deal for Metro Vancouver Fulfillment Facility
450,000 sq. ft. e-commerce facility set to open in 2019
VANCOUVER, Sept. 27, 2018 /CNW/ - GWL Realty Advisors announced today that it has finalized a lease agreement with Amazon for the online retailer's newest Metro Vancouver fulfillment facility. Amazon will occupy 450,000 sq. ft. within Delta iPort, a new industrial park being developed by GWL Realty Advisors on behalf of project owner, the Healthcare of Ontario Pension Plan (HOOPP), on lands leased from the Tsawwassen First Nation (TFN).
"We are pleased that Amazon has chosen Delta iPort as its newest Metro Vancouver distribution facility," said Paul Finkbeiner, President, GWL Realty Advisors. "In an industrial real estate market as constrained as Vancouver, meeting the needs of Amazon for facility size and location requires creative thinking. By working in partnership with the Tsawwassen First Nation, we were able to create an innovative solution for both Amazon and for our client, HOOPP."
"We are excited to continue growing in British Columbia and especially in the Lower Mainland community known for its talented and diverse workforce dedicated to innovation," said Glenn Sommerville, Director of Amazon Operations in Canada. "Our ability to create hundreds of good-paying jobs with great benefits is thanks to the network of support we've received from community leaders, project partners, and fantastic customers."
The agreement with Amazon is for the first phase of the 57-acre Delta iPort industrial park. When complete, the campus will offer nearly one million sq. ft. of modern distribution space across two separate buildings. Delta iPort has been tailored to the rapidly evolving and increasingly complex logistics and e-commerce markets. Given Delta iPort's close proximity to Deltaport and major arterials, the site will provide Amazon with a critical logistics solution for the Vancouver market.
"HOOPP is pleased to welcome Amazon to Delta iPort," said Chris Holtved, Senior Portfolio Manager, HOOPP Real Estate. "Amazon is one the largest clients in HOOPP's global logistics portfolio. Securing them as the anchor tenant for Delta iPort fulfills the original shared vision that HOOPP, GWL Realty Advisors and TFN create a best-in-class distribution hub that would attract leading edge global logistics clients."
"Tsawwassen First Nation welcomes Amazon to our Lands," said Chief Bryce Williams. "This is a promising advancement that will continue to unlock the potential of TFN as a leading development partner and as a key economic driver in Metro Vancouver, and we thank our partners GWL Realty Advisors and HOOPP for their roles in bringing this exciting agreement to fruition. Initiatives like Amazon's Lower Mainland fulfillment facility have the potential to play an important role in a strong, prosperous, and united TFN."
Delta iPort is located at 41B Street and Salish Sea Way on Tsawwassen First Nation Lands. The campus is adjacent to Port of Vancouver's Deltaport, within 30 kilometers of both downtown Vancouver and the U.S. border, and is adjacent to several key transportation routes, including the South Fraser Perimeter Road. The facility will open in 2019, and will be managed by GWL Realty Advisors on behalf of facility owner, HOOPP. http://www.deltaiport.com
About GWL Realty Advisors
GWL Realty Advisors Inc. is a leading real estate investment advisor providing comprehensive asset management, property management, development and specialized real estate advisory services to pension funds and institutional clients. To learn more, visit gwlrealtyadvisors.com.
About HOOPP
Created in 1960, HOOPP is a multi-employer contributory defined benefit plan for Ontario's hospital
and community-based healthcare sector representing 548 employers and more than 339,000 members. HOOPP Real Estate manages the HOOPP pension fund's allocations to real estate investments and owns over 45 million square feet of commercial, retail, industrial, and multi-residential buildings in approximately 200 locations in Canada, the United States, the United Kingdom and Europe. HOOPP Real Estate's 2017 portfolio was valued at $13.4B. To learn more, visit hoopp.com.
SOURCE GWL Realty Advisors
Media contact: For GWL Realty Advisors : Simone Abt | Elettra Communications, C: 604 512 8714 | [email protected]; For HOOPP : Judy Mann, Senior Director, Public Relations & Corporate Communications, T: 416-369-8033 C: 416-270-3619
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