Grosvenor Property Canada Signs Doka Canada Ltd. to 10-Year Industrial Lease on Annacis Island

Grosvenor Property Canada has completed a 10-year industrial lease with Doka Canada Ltd. at 830 Carlisle Street on Annacis Island in Delta, British Columbia. The agreement covers a 15-acre industrial property formerly occupied by Russel Metals and marks the second major industrial lease Grosvenor Property Canada has executed on Annacis Island in 2026.

Deal Details: A 15-Acre Site and a Decade-Long Commitment

The lease at 830 Carlisle Street commenced this month and runs for 10 years, providing Grosvenor Property Canada with long-term income stability at a property held as part of a broader Annacis Island industrial portfolio the firm has actively managed since acquiring its first holdings on the island in 1952. Grosvenor Property Canada currently owns and manages 185 acres on Annacis Island. The lease rate, building square footage, and other financial terms were not disclosed.

Doka Canada Ltd. is a subsidiary of Austria's Umdasch Group and operates in more than 60 countries, providing formwork and scaffolding systems used on infrastructure, commercial, and residential construction projects. The company maintains more than 180 sales and logistics locations worldwide.

The new Annacis Island facility will effectively double Doka Canada's Metro Vancouver footprint, reflecting expansion of its Western Canada operations rather than a simple relocation.

A Dual Relationship: Tenant and Construction Partner

Robert Duteau, Executive Vice President, Investment at Grosvenor Property Canada, described the transaction as an extension of an existing working relationship between the two companies.

"Doka is an exceptional global company with a long history of supporting some of the world's most ambitious construction projects," Duteau said. "This lease represents a unique partnership between landlord and tenant, as we are currently utilizing Doka's proprietary formwork systems on Brentwood Block, our landmark mixed-use master-planned community in Burnaby. The fact that we are working with Doka both as a tenant and as a trusted construction partner speaks to the quality of their products and their reputation within the industry. It's rewarding to see this evolution of our partnership."

Gunnar Falke, CEO of Doka Canada Ltd., said the Annacis Island facility reflects confidence in British Columbia's construction sector. "The new Annacis Island facility marks an important step in Doka's continued growth in Western Canada. This investment reflects our confidence in the ongoing strength of British Columbia's construction sector and reinforces Doka's commitment to being close to our customers, helping them meet evolving project demands with innovative formwork and scaffolding solutions," Falke said.

Annacis Island: Continued Industrial Leasing Activity

The Doka Canada transaction follows a separate major industrial lease Grosvenor Property Canada announced in June with S&S Activewear at another Annacis Island property. Together, the two deals reflect active leasing activity at a location Grosvenor Property Canada describes as one of Metro Vancouver's most important industrial and logistics hubs, where demand for well-located industrial space remains strong against a backdrop of limited available supply.

Grosvenor Property Canada said it continues to evaluate 830 Carlisle Street's strategic role within its broader Annacis Island industrial portfolio, indicating that longer-term capital allocation decisions around the site remain under consideration.

Market Context: Supply Constraints and Long-Term Leasing

The 10-year lease term is consistent with a pattern seen across supply-constrained industrial markets, where tenants with expanding operational needs secure space for longer durations to protect against future vacancy shortages. Doka Canada's business model — providing formwork and scaffolding systems to large-scale construction projects — ties its demand for industrial space directly to ongoing construction activity in the region.

For Grosvenor Property Canada, the lease converts a formerly vacant 15-acre site into a stable, long-duration income-producing asset while the company continues assessing the property's place within its larger Annacis Island holdings, which span 185 acres and represent one of the firm's longest-held international investments.

---

Sources: Grosvenor Property Canada — Official Announcement