Hungerford Properties has acquired two, large industrial sites in South Vancouver totalling 15.5 acres. The 12.5-acre site at 86 Southeast Marine Drive is one of the largest industrial acquisition in the last 10 years (in terms of square footage).

Formerly owned by Walmart and previously a Dueck car dealership, the site is the biggest developable parcel of industrial land in South Vancouver and has been vacant for approximately 15 years.

The other site is a three-acre property at 396 Southwest Marine Drive. Currently home to KIA Vancouver car dealership, this transit-oriented redevelopment site at Yukon Street and Marine Drive is one of the few remaining sites in the area envisioned to permit retail and commercial uses to service the neighbourhood’s new residential developments.

The KIA site is located across from the Marine Drive SkyTrain station and is in the heart of the new retail hub at Marine Gateway.

“We will be working hard to transform the sites from single-use, to large-scale, mixed-use commercial developments in the coming years,” says partner, Michael Hungerford.

Both sites will be redeveloped in conjunction with the City of Vancouver into mixed-use, commercial and retail sites.

“Hungerford’s two, new strategic development sites will be able to capitalize on transit ridership numbers which are at an all-time high, and will transform the area,” says Darren Cannon, Executive VP at Colliers.

Hungerford’s acquisitions will “kickstart a commercial revitalization to complement the increased population density coming with the recent mixed-use developments in the area,” according to Matthew MacLean, Senior VP at Cushman & Wakefield.

“With transit connectivity and a unique complement of large and small users and high density residential, the area is prime for Vancouver’s next creative hub, much like Mount Pleasant and the Great Northern Way Campus,” he says.