Vancouver International Airport has selected Cushman & Wakefield to help it find a partner for its Airport Commerce Centre.
Global real estate specialist Cushman & Wakefield will act as Vancouver International Airport’s (YVR) exclusive advisor in its search for a partner to invest in and complete construction and leasing of its 300,000sq ft Airport Commerce Centre near the main terminal.
The facility was initially designed to create additional capacity in utilities when the airport was experiencing double-digit growth. YVR is now seeking to diversify revenues and grow its core airport business while supporting regional economic development. Bill Bakk, VP of business development at Vancouver Airport Authority, said: “Under our current land-use plan and through our work with Cushman & Wakefield, we look forward to welcoming new businesses to the airport and adding more points of connection for our passengers, workers and community.”
Once complete, the redesigned Airport Commerce Centre, adjacent to YVR’s Cargo Village, has multi-modal potential and will be able to facilitate air cargo connections with future developments on Sea Island. YVR is Canada’s second busiest airport and the premier gateway between the Americas and Asia Pacific, offering significant competitive advantages for international goods movement and travel. Its proximity to YVR’s main terminal places the facility along the Canada Line, a rapid transit line that connects riders to downtown Vancouver in under 30 minutes.
Cushman & Wakefield’s Edgar Buksevics said: “The Airport Commerce Centre provides a strategic offering to align with YVR and potentially participate in +C$2 billion of future construction activity. Given the historical strength of Vancouver’s logistics market and the Airport Commerce Centre’s location, it’s an extraordinary opportunity.”
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