Prologis has acquired a 289,000-square-foot warehouse in the Vancouver suburb of Delta, B.C., for an undisclosed price.

The purchase marks the company’s entry into the Vancouver market, complementing its existing stronghold in Toronto. Prologis owns, develops and manages global logistics properties.

The company likes Vancouver for its role as a crucial logistics hub, home to Canada’s largest port and a key gateway to major U.S. markets, including Seattle and the San Francisco Bay Area. With its low industrial real estate vacancy rates and high demand for modern logistics facilities, the region aligns with Prologis’ expansion plans, said the company.

The acquired property is situated at 9410 River Road. Delta is a prime logistics submarket, offering proximity to the Port of Vancouver, Vancouver International Airport, Highway 17 and Highway 99 to the nearby Canada-U.S. border. The building is fully leased to a pair of tenants.

In addition to making the acquisition, Prologis plans to establish a local office in Vancouver and appoint a market leader to oversee capital deployment and customer support in the region.

“We want to build a significant and best-in-class portfolio that supports our customers and contributes to Vancouver’s and Canada’s economy,” said Patrick Gemma, head of capital deployment for the company’s west region.

“Our core focus at first will be development. Initial conversations with our customers about our expansion plans have been met with enthusiasm, as this market is highly attractive for several reasons.”

San Francisco-based Prologis has an established Canadian footprint, particularly in Toronto, where it operates approximately 14.5 million square feet of logistics space with a 98% occupancy rate.

Its tenants span industries such as automotive, household goods, and technology.

Photo: Prologis