Beedie and Dhanda Break Ground on 2.5-Million-Square-Foot Parkwood Industrial Estates in Delta

DELTA, BC — Beedie and Dhanda have broken ground on Parkwood Industrial Estates, a 2.5-million-square-foot industrial development in Delta, British Columbia that represents the largest new industrial project to break ground in Metro Vancouver.

The groundbreaking, which took place Sept. 21, marks the formal start of construction on a project nearly a decade in the making. Beedie's involvement in the site dates to 2016, when it entered into an agreement with Pineland Peat Farms Ltd. — now operating as Dhanda — and acquired a stake in the property. In the years since, the project advanced through planning, regulatory approvals, community consultation, and infrastructure design.

"Ten years ago, this was an ambitious vision. Today, it is the largest industrial development breaking ground in Metro Vancouver, representing a significant expansion of Delta's industrial land base," said Ryan Beedie, President of Beedie. "It will create hundreds of construction jobs and nearly 1000 permanent positions. We are extremely excited to see this vision finally come to life."

Project Scope and Phasing

Located at 5224 88 St. in Delta, Parkwood Industrial Estates is designed to support a diverse mix of industrial, logistics, distribution, and employment-generating uses across approximately 2.5 million square feet of modern industrial space. The site has been described in City of Delta documents as a 148-acre industrial park.

Construction is being delivered in phases. The first phase, totaling 139,000 square feet, is expected to reach completion in the second quarter of 2027. The second phase, at 186,000 square feet, is anticipated to be finished in the first quarter of 2028.

The project has already secured two confirmed tenants ahead of delivery. Martin-Brower of Canada will occupy a build-to-suit facility of approximately 137,000 square feet, expected to open in summer 2027. Medline Canada has announced a new warehouse and distribution centre at 8858 Pineland Drive in Delta, with the building described as more than 180,000 square feet — a footprint that would nearly double Medline's combined British Columbia presence.

Infrastructure Investment: The 78th Street Interchange

A defining feature of the Parkwood development is the scale of public infrastructure Beedie has taken on as part of the project. The company is leading the design, approvals, procurement, and construction of the new 78th Street Interchange, which is anticipated for completion in 2027. The interchange is intended to enhance connectivity and access to the area and required multi-year coordination with the City of Delta and the Province of British Columbia.

"The 78th Avenue interchange we're building as part of this project is public transportation infrastructure at a scale no private developer has delivered in B.C. before — the result of years of planning and coordination with both Delta and the Province," Ryan Beedie said.

The off-site servicing strategy for Parkwood also includes drainage and irrigation improvements designed to protect water quality for East Delta farms. Those systems were developed in consultation with the City of Delta and the Delta Farmers Institute to help ensure the surrounding agricultural community retains reliable access to irrigation water.

Market Context: Metro Vancouver Industrial Demand

The groundbreaking comes as Metro Vancouver's industrial market has moved off historic lows but remains structurally constrained relative to other commercial real estate asset classes. Industrial vacancy in the region reached 4.5% in the first quarter of 2026 — the highest level since the second quarter of 2015 — before edging back to 4.1% in the second quarter of 2026. Average direct asking net rents have softened from peak levels, with figures in the range of $19.14 to $19.54 per square foot, representing year-over-year declines in the 4% to 5% range.

New supply has been a factor in the vacancy movement, with a meaningful share of recently delivered space entering the market without committed tenants. That dynamic helps explain the emphasis Beedie has placed on securing build-to-suit and preleasing commitments at Parkwood ahead of broader delivery. Industrial cap rates in Metro Vancouver remain compressed relative to other property types, with Delta industrial assets trading in a range of approximately 4.5% to 5.25% depending on submarket and asset quality.

Parkwood's groundbreaking also follows a separate institutional capital move by Beedie. On Sept. 10, 2026, Beedie and La Caisse announced a 50/50 joint venture seeded with a $1 billion portfolio comprising more than 2.5 million square feet of income-producing industrial assets and one development project of approximately 200,000 square feet — a transaction that signals continued institutional appetite for Canadian industrial real estate even as market conditions normalize.

Employment and Community Impact

Beedie says Parkwood Industrial Estates is expected to generate hundreds of construction jobs during the build-out period and support nearly 1,000 permanent positions once the development is fully operational. The project's agricultural-interface components — including the drainage and irrigation systems developed alongside the Delta Farmers Institute — reflect the development's broader footprint beyond the real estate program itself.

The multi-year timeline for Parkwood reflects the complexity of assembling, entitling, and servicing a large-scale industrial site in a supply-constrained market. Beedie's decade-long involvement in the property, combined with the infrastructure commitments required to bring it to market, underscores the lead time associated with delivering industrial land at this scale in Metro Vancouver.

Sources

Beedie — Beedie and Dhanda break ground on Parkwood Industrial Estates (Sept. 21, 2026)