Over 2.8 million square feet of industrial space coming to Richmond | www.rebgv.org

The newly planned $350 million Richmond Industrial Centre is slated to be the biggest business park in Metro Vancouver.

The park will be built-to-suit, meaning construction won’t start until tenants are signed on. This also means that the suites will be custom-built for tenants.

Richmond has more industrial space than any municipality in Metro Vancouver, however, its vacancy rate sits at 2.1 per cent, according to Colliers International.

The park will cover 170 acres, includes 12 buildings, and will have 2.8 million square feet of leasable space. The first building slated for construction will be 500,000 square feet and accommodate tenants in suites of 125,000 square feet or more.

The project is expected to generate 4,800 jobs for the region and will accommodate manufacturing, processing, fabrication, and local distribution businesses.

Depending when tenants sign on, the first suites in the complex could be available by Fall 2018.

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