This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Morguard Begins Development Of World-Class Multi-Tenant Industrial Facilities At The Global Transportation Hub In Regina, SK

REGINA, Nov. 5, 2013 /CNW/ - The Global Transportation Hub (GTH) and Morguard Investments Limited (Morguard) finalized an agreement in the spring of 2013 for Morguard to build and lease world-class facilities for the transportation and distribution sector.  Today, an official ground breaking ceremony signaled the beginning of the initial development - and the beginning of a new era of growth in Saskatchewan.

The Agreement confirmed the purchase of 50 acres of land, another 50 acres in 2014, with an option for additional land in future years in the GTH.  Morguard made the purchase on behalf of its pension fund client, Healthcare of Ontario Pension Plan (HOOPP), and will lead the build lease development project.

The official name of the initial development phase is TransLink Logistics Centre.  The name reflects the different modes of transportation such as road and rail that connect local, national and international export and import activities with the region.

"Our collective goal is to transform this greenfield development into a world-class multi-tenant industrial premises specifically designed to meet LEED Silver standards," said Stephen Taylor, President and COO, Morguard Investments Limited.  "We are committed to developing sustainable buildings that will enable high volume and efficient low-cost operations for new tenants entering the TransLink Logistics Centre."

Morguard has completed the detailed design of four new buildings.  Construction is now underway by PCL for two of the four buildings targeted for completion in May 2014.  Floor plates range from 60,000 SF to 82,000 SF with a build to suit option of up to one million SF.  Morguard has partnered with Avison Young to manage leasing opportunities in the new facilities.

" Regina's industrial market has needed this type of initiative for years. We're so proud to be part of a team that understands the importance of long range planning and execution. This market needs options for existing tenants, and more importantly for market entrants," said Dale Griesser, Broker for Avison Young's Regina office. "Our priority is to work with our industry contacts, placing an emphasis on business attraction, expansion, repositioning, and relocation."

"From a marketing perspective, likely no other product can compete with this development in terms of total cost of doing business," said Jeff Sackville, Associate at Avison Young Regina. "Building design, site access, speed to market and site functionality are all essential elements of our clients' considerations. Clearly, Morguard has hit a home run in this regard."

"Morguard is another prime example of Saskatchewan's Growth Plan in action," Minister Responsible for the Global Transportation Hub, the Hon. Bill Boyd said.  "Morguard's presence at the GTH is the most recent demonstration that Saskatchewan is the place to be in Canada.  We have the strongest job growth and lowest unemployment in the country, and we have a great quality of life in this province," he said.

Finalizing this agreement makes Morguard the third company to join the GTH in 2013 following the Emterra Group and a new Saskatchewan Liquor and Gaming warehouse.  They join Loblaw, Canadian Pacific Rail and Consolidated Fastfrate at the 1,700 acre transportation and logistics hub in west Regina.  Since its legislation was proclaimed in August of this year, the GTH is now an unparalleled self-governing Inland Port Authority.

About Morguard Morguard Corporation (TSX: MRC) is a major North American real estate and property management company.  It has extensive retail, office, industrial and residential holdings owned directly and through its investment in Morguard REIT (TSX:  MRT.UN) and Morguard North American Residential REIT (TSX: MRG.UN).  Morguard also provides real estate management services to institutional and other investors.

About HOOPP Created in 1960, HOOPP is the pension plan of choice for Ontario's hospital and community-based healthcare sector with over 440 participating healthcare organizations. HOOPP's 274,000 members include nurses, medical technicians, food services staff and laundry workers, and many other people who work hard to provide valued Ontario healthcare services.

About Avison Young Avison Young is the world's fastest-growing commercial real estate services firm. Headquartered in Toronto, Canada, Avison Young is a collaborative, global firm owned and operated by its principals. Founded in 1978, the company comprises 1,300 real estate professionals in 53 offices, providing value-added, client-centric investment sales, leasing, advisory, management, financing and mortgage placement services to owners and occupiers of office, retail, industrial and multi-family properties.

About GTH The Global Transportation Hub is Canada's only autonomous self-governing Inland Port Authority.  The GTH is Saskatchewan's "'Gateway with the World", with the fastest speed to market, logistically superior and best-priced solution in western CanadaSaskatchewan's exceptional economic growth has created new demand for supply chain solutions.  As a result the GTH has quickly become an unprecedented business and investment opportunity providing clients the chance to own and develop customized green-field solutions through a single point of contact.

SOURCE Morguard Corporation

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,643.01 -11.76 -0.07%
S&P 500 1,988.87 +1.21 0.06%
NASDAQ 4,828.3250 +15.6170 0.32%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs