One of the biggest industrial/office deals in Surrey has completed this week with Texcan, Canada’s leading wire and cable distributor, finalizing their move into Pacific Link Business Park. The 105,000 SF building, developed by Wesgroup, is the newest and largest building in the 84-acre Pacific Link Business Park, currently home to FedEx Freight, Hostess/Frito Lay, Pacific Coast Express, QuikX, Williams Machinery, Lordco Auto Parts and, most recently, B.A. Robinson.
“This deal was one of the largest industrial build to suits and one of the biggest office deals in Surrey in 2015,” says Darren Cannon, executive VP at Colliers, the brokerage that assisted Texcan in finding this new location.
What the Texcan deal means is that this burgeoning industrial area of Surrey will soon get a major facelift, with the addition of 30,000 SF of office and approximately 100 employees. This is in addition to their 75,000 SF brand new, build to suit warehouse space, and is much more office space than is typical for the South Westminster/Bridgeview area, which until now has been predominantly industrial.
“Texcan’s presence at Pacific Link is a game changer for the area,” says David Wesik, VP of corporate development at Wesgroup. “It validates Bridgeview as not only a great logistical location but also one appealing to head offices. It will certainly bring a new energy and vibrancy to the region.”
Texcan, Canada’s leading wire and cable distributor, is moving their main distribution centre to Pacific Link from Annacis Island and consolidating administrative functions of other sister companies into this one central space. “Our new location in Surrey and our new building provides us with the flexibility to grow our business,” says Texcan president Chris Golf, “We now have a much larger footprint and a more accessible location.”
“We wanted to find a location that was cost effective but also one that provided great accessibility, both for employees and truck access given this is also a distribution centre,” says Robert Cressaty, Managing Partner at Landmark Advisory Services whose company advises Texcan on Canada-wide real estate matters. “Combined with the improving dynamic and amenities in the area, Pacific Link was an easy decision and Wesgroup is a first class organization to deal with in every way.”
Pacific Link Industrial Park is a master-planned development on the south shore of the Fraser River offering exceptional access to Metro Vancouver’s major highway systems, rail networks and Fraser Surrey Docks. It provides direct access to the South Fraser Perimeter Road (SFPR) at 103A Avenue as well as at the adjacent Tannery Road Interchange connecting to Scott Road, Grace Road and 103A Avenue.
Since 2009 when the City of Surrey offered tax waivers and reduced building permit fees to draw economic investment to the area, there has been an influx of high-profile, high quality, well-paying jobs. Wesgroup will soon be starting construction on another building in the business park based on their confidence in the leasing market. The new, 22,500 SF building will be built on spec. “We are confident in this market and we believe that if we build it, they will come.”
Please visit http://www.pacificlinkindustrial.com/ for more information.