Vancouver Sun - Commercial Real Estate: Two South Vancouver Industrial Sites Set for Redevelopment

Posted on May 23, 2018

Cre Hungerford

Local developer Hungerford Properties has purchased two South Vancouver sites, including what the company says is the largest industrial acquisition in the city in the last decade.

The developer recently announced it had purchased a 12.5-acre site at 86 Southeast Marine Drive (just west of the Real Canadian Superstore), and called it Vancouver’s largest industrial deal in the last 10 years in terms of square footage.

The site, formerly owned by Walmart, was previously a Dueck car dealership and is the largest developable parcel of industrial land in South Vancouver, the company said. The property has been vacant for the past 15 years.

Hungerford Properties also bought a three-acre site at nearby 396 Southwest Marine Drive, which is home to a Kia car dealership.

“It is not easy to find redevelopment sites of this size and exposure to transit in Vancouver,” said Michael Hungerford, a partner with the company. “We will be working hard to transform the sites from single-use to large-scale, mixed-use commercial developments in the coming years.”

Hungerford declined to specify what they plan to do with both sites, but he said they hope it will be part of a significant revitalization of that area of South Vancouver.

The larger site is not expected to require a rezoning, he said.

“For the (smaller site) that’s next to the (Marine Drive SkyTrain) station, I believe a rezoning is going to be required, but the area plan around the station calls for mixed employment uses and we will be making an application with that use in mind,” he told Postmedia in an interview.

Hungerford Properties invests, manages and develops real estate across Western Canada in residential, multi-family, industrial, office and retail.

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