Bosa Properties Acquires 460K-SF Vancouver-Area Industrial Park
Bosa Properties has acquired a 460,000-square foot industrial park in the Vancouver area from Legacy Pacific Land Corporation.
The property is located in Chilliwack, B.C., a Vancouver submarket located in the Fraser Valley. The sale ranks as the largest industrial deal in Chilliwack, said full-service commercial real estate firm Avison Young, which represented Legacy Pacific in the transaction while collaborating with all parties.
The Legacy Pacific Industrial Park comprises 300,000 square feet of existing buildings and an additional 160,000 sf of future development density on 37 acres. Bosa plans to develop adjacent lands, reflecting its comm
In recognition of the transaction and their commitment to supporting communities, Chilliwack-based Legacy Pacific; Vancouver-based Bosa Properties, through a foundation named in honour of founder Robert Bosa, and Toronto-based Avison Young will jointly donate $250,000 to the Chilliwack Hospital Foundation.
Avison Young’s Vancouver-based team of Michael Farrell, Ryan Kerr, Garth White, Joe Lehman and Bob Levine negotiated the transaction. Financial terms were not disclosed.
Farrell, Kerr, White and Lehman specialize in industrial deals. Levine, a founding partner of Avison Young, concentrates on investment-grade transactions.
Monte Stewart serves as Content Director - Canada for Connect Commercial Real Estate.
Based in Vancouver, British Columbia, Monte provides daily news coverage of major Canadian commercial real estate markets, including Vancouver, Toronto, Montreal and Calgary. He has written about the real estate sector for various media outlets and Avison Young since the early 2000s.
In addition, he has covered sports, general news and business for several leading wire services and publications, including The Canadian Press, The Associated Press, The Calgary Herald, The Globe and Mail, Research Money, The Daily Oil Bulletin, Natural Gas World and The Toronto Star.
Monte is active in his community as a youth basketball coach and raises funds for such charitable causes as Movember.