GWL Realty Advisors (GWLRA) has broken ground on its 605,000-square-foot industrial design-build development project for Princess Auto at Stoney North Logistics Centre in Balzac, Alta.

Princess Auto preleased the space in February, becoming the 2-million-sf Stoney North business park’s first tenant.

The warehouse is being developed on behalf of the Great-West Life Canadian Real Estate Investment Fund No. 1 (CREIF) and marks a significant addition to Alberta’s logistics infrastructure. (Great-West Life is Toronto-based GWLRA’s parent.) Balzac is located 34 kilometres north of Calgary and part of the city’s industrial market.

“We extend our gratitude to our partner and the team at Rocky View County, along with Dialog Design, Urban Systems, and Leeswood Construction for bringing us to this milestone,” said Geoff Heu, GWLRA’s vice-president of development for Western Canada.

“Completion is anticipated in the second half of 2026. We are eager to progress with future phases.”

Stoney North is being co-developed by GWLRA and Calgary-based Enright Capital. It will eventually contain tier 1 industrial warehouse space across 118 acres.

The first phase will feature the 605,000-sf facility, custom-built for Princess Auto, a well-known Canadian retailer specializing in farm, industrial, garage, hydraulics, and surplus items.

The new facility will feature a 40-foot ceiling height, extensive loading docks, and ample trailer storage—key attributes for large-scale distribution operations. Balzac has emerged as a strategic logistics hub for Western Canada, prompting major retailers to establish distribution centres thanks to its connectivity to Stoney Trail (Calgary’s ring highway) and Deerfoot Trail (Highway 2).

Pictured: Future Princess Auto Warehouse at the Stoney North Logistics Centre in Balzac, Alta.

Rendering: Courtesy of GWLRA