Work to start on massive B.C. industrial development
The project is expected to add 1.3 million square feet of industrial space to the tight Metro Vancouver market.
A rendering shows the design of Xchange Business Park. – Hungerford Properties
Work is set to begin on a massive industrial development in the Lower Mainland.
Xchange Business Park on Mt. Lehman Road in Abbotsford has received regulatory approval to begin construction on the first two buildings. The full design of Xchange includes 11 buildings and 1.3 million square feet of purpose-built light industrial space totalling 140 acres. The project is being developed by Hungerford Properties and QuadReal Property Group.
“One of the largest industrial developments in recent years, Xchange will help to meet the demand for industrial space in Abbotsford and add much-needed jobs to the growing community,” said Hungerford. “Forty acres will be dedicated to green space and have an amenity area that recognizes the nearby Matsqui First Nation.”
An industrial project of this size is becoming rarer and rarer in the region. According to a 2022 report by Avison Young, Metro Vancouver’s industrial vacancy rate is the lowest in Canada at 0.4 per cent. They anticipate more than 2.5 million square feet of industrial space will be delivered in the last quarter of the year but 95 per cent of it was already spoken for in the third quarter.
Prior to the approval, Wales McLelland has been providing pre-construction services, including development planning and re-zoning, along with de-risking activities such as critical constructability, budgeting, scheduling and site preparation.
Photos: Pre-construction work