June 13, 2023 — RENX

PC Urban, Nicola Wealth Unveil New Vancouver Industrial Strata

By: Nicholas Sokic

June 13, 2023

Vancouver-based real estate developer and operator PC Urban Properties and investment firm Nicola Wealth have launched a new industrial strata development in southwest Vancouver to be known as IntraUrban Southlands.

The project at 8696, 8698 and 8710 Barnard St. is PC Urban’s 12th IntraUrban development. it will result in 32 ground-oriented units across three buildings with high-end amenities, connectivity to the Arbutus Greenway and individual end-of-trip facilities for its owner-tenants.

The 119,245- square-foot project is to be ready for occupancy in Q4 2024.

“With a location close to the airport, highways and the city, IntraUrban Southlands provides a diverse range of industrial spaces of various sizes, offering flexible opportunities for showroom, warehouse, production and manufacturing purposes,” PC Urban CEO Brent Sawchyn said in a statement.

“Each building will feature a sleep, modern design that is almost too good to be industrial. This is a rare ownership opportunity in southwest Vancouver in an ideal location for small- to medium- sized businesses closer than ever to where they live, work and play.

“There are very few opportunities in this area and all the IntraUrban projects we have built in the past in the area have sold out quickly.”

PC Urban has 5.2M sq. ft. under development

PC Urban is active throughout Metro Vancouver, the Central Okanagan and the southern portion of Vancouver Island. PC Urban has developed over $3.5 billion of projects across all asset classes.

It currently has 5.2 million square feet of space under development including 1.4 million square feet of office space and 1,200 residential units.

Nicola Wealth Real Estate has $12.1 billion in assets under management, including industrial, multiresidential, office, self-storage, retail and seniors housing.

The industrial spaces in the development range from 1,741 to 8,325 square feet and include contemporary storefronts and glazing, minimum 26-foot clear ceiling heights for ground-floor units and 13-foot clear ceiling heights for lower-level units, grade door access and showers in each unit.

Bicycle racks, lockers and repair stands are also included in each unit.

“It’s the westernmost development in the city that is pure industrial, and a return to the typical industrial form with direct access to loading at grade, high ceiling heights, heavy floor loads and small bays,” Matt MacLean, executive vice-president at Cushman & Wakefield, said in a statement.

“It is not vertical or multi-level. This project offers purely ground-floor space with some mezzanine that will provide refined, higher-end space in one of the most affluent neighbourhoods in Vancouver for local business owners with business or storage or leisure needs.

“There are lots of flexible opportunities.”

IntraUrban Projects

The first IntraUrban project was the IntraUrban Business Park located at 8811 Laurel St. in Vancouver in 2016.

Subsequent B.C. developments at 5495 Regent St. in Burnaby, 1625 Dilworth Dr. in Kelowna and 11111 Twigg Pl. in Richmond followed and all the projects sold out.

The IntraUrban concept is also present in Alberta with a 13-unit industrial condominium at 6008 75th St. NW in Edmonton.

The two most recent, IntraUrban Kent and Gateway in South Vancouver, sold out with delivery aimed for this summer.

Aside from the Southlands location, other IntraUrban developments currently being marketed are Eagle Ridge at 2660 Barnet Hwy. in Coquitlam, McCarthy at 9640 McCarthy Rd. in Kelowna, and Cornerstone at 830 McCallum Rd. in Langford.

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