Manulife Investment Management and Panattoni Development Company are partnering on the development of a key parcel of industrial land in the southeast area of Edmonton
COMMERCIAL – The partners recently purchased the 148-acre parcel in Fulton Creek Business Park at 6010 30th St. N.W.
“This acquisition represents a build-to-suit and/or multi-phase spec development potential in excess of one-and-a-half-million square feet with unique opportunities to incorporate natural aspects of Fulton Creek Ravine into this comprehensive business park project,” Manulife said in a written statement to RENX.
“The only large infill industrial property available in southeast Edmonton, Fulton Creek is situated amongst a variety of modern, industrial projects developed and owned by notable institutional owners.
“The site has exceptional access to nearby highways, including the Whitemud Freeway and Anthony Henday Drive and the potential for rail service via an existing rail spur. The development of the project will extend critical City of Edmonton infrastructure through the site including full municipal services, the extension of Roper Road arterial roadway and upgrades to 34th Street for unparalleled connectivity for businesses to efficiently move goods and people in Edmonton’s large southeast industrial sub-market.”
Financial details of the transaction were not disclosed. Read More