More than 10 acres of industrial space in West Kelowna will start being developed this spring.
DENCITI Development Corp. is creating the West Kelowna Industrial Park in an effort to combat the low industrial vacancy rates. The land is located at 2648 Kyle Rd., and it will be the first project in the area in seven years.
“West Kelowna is a market that has such limited supply of modern industrial product due directly to a lack of industrial development,” DENCITI CEO Garry Fawley said in a press release. “… West Kelowna Industrial Park gives businesses one of the few chances to own their own title because it is being built on one of the last large parcels of undeveloped freehold land in the area. We have flexibility for various scenarios, including build-to-suit, strata ownership and strata leases.”
DENCITI expects the site will bring upwards of 500 new jobs to West Kelowna. Construction is planned to begin this spring, and the first phase of development will accommodate spaces ranging from 1,250 square feet to 10,000 square feet.
Future phases of the development will be able to accommodate medium to large uses of up to 200,000 square feet.
“We are seeing record low vacancy rates, and the development will be adding a much-needed injection of supply to the area,” Royal LePage Kelowna commercial real estate broker Steve Laursen said. “The land is zoned for a variety of industry, and we will be attracting a vibrant mix of companies. It’s attractively priced and a prime location close to everything a business needs. It’s five minutes away from multiple national retailers, eleven minutes to downtown Kelowna, and twenty-five minutes to Kelowna International Airport.”
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