January 17, 2024 — Castanet

How Industrial Developers Are Adjusting To Changing Marketplace

January 17, 2024

Vancouver developer PC Urban Properties, in partnership with Nicola Wealth Real Estate, is currently building a third strata industrial development in Kelowna at 9640 McCarthy Road. The four-acre site will soon become a 105,000-square-foot development for local small and medium-sized businesses seeking their own purpose-built, commercial and light industrial real estate.

IntraUrban McCarthy is the company’s newest industrial offering in Kelowna, with strata industrial spaces starting at 2,068-square-feet and with the option of combining multiple units for larger floor plans up to 16,000-square-feet.

Three distinct, open-concept floor plans offer maximum flexibility and exceptional choice to business owners who can select and design the space to meet their specific business needs. The new development will also be including finished second floor office space to make it business ready.

IntraUrban McCarthy offers an attractive combination of a highly strategic location, modern design and investment potential for light industrial/commercial end users, or those looking for recreational storage. Located north of Kelowna, close to Highway 97 and the airport, IntraUrban McCarthy is set in an industrial growth hub offering space that is more economical than alternative industrial offerings between downtown and the airport.

“This is a first for Kelowna,” says Steve Laursen, commercial agent, RLK Commercial. “We listened to buyers and want to make things easier for them by providing a more move-in ready space with the mezzanines completed to an open office plan, complete with kitchenette, with finishings that will provide a welcome feel for all business types. Kelowna is a city with many small businesses and lots of great entrepreneurs, and these entrepreneurs love to own their own real estate, but buying real estate and then having to complete further construction work after closing just adds more challenges to the process. IntraUrban McCarthy will provide turn-key industrial opportunities that small-to medium-size business owners will be proud to own. In addition to a turn-key space ready for businesses to commence operations, PC Urban is also pleased to be able to offer purchasers flexible deposit structures.”

Developer PC Urban has a well-known track record of building highly-successful commercial and industrial spaces throughout the province, including IntraUrban Enterprise on Dilworth Drive and Powerhouse on Clement Avenue at Packer’s Junction. Both projects demonstrate the company’s expertise in building next-generation business properties that reflect a deep understanding of the needs of today’s owners and entreprenures. The company’s industrial developments are known for adding extra, unexpected value to each development, including heritage, art and community features.

“We are changing the conversation again by providing turn-key solutions to businesses buying strata industrial in Kelowna,” said PC Urban CEO, Brent Sawchyn. “We are stepping up our response to buyer’s needs. There is strong demand and low supply, and we know from building a large number of successful industrial projects in Vancouver, Victoria and Kelowna that this is an asset class that continues to outperform.”

“IntraUrban McCarthy will provide highly functional, light industrial space to the market, allowing owners to build equity and control their costs in a premium location. Now with turnkey options, owning is even easier and an incredible opportunity for small and medium business owners.” says Matthew Craig, director of value add at Nicola Wealth Real Estate.

“We are offering a seamless bridge between aspiration and acquisition, ready-to-use spaces not only simplify the entry process but redefine success for entrepreneurs.”

Construction is well underway, with occupancy slated for Q2 2024.

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