National tenants continue to look at our market and there are brave developers out there with the belief if they build it they will come.
Cornerstone Commons, Stonebridge
ICR is very excited to be a part of the first privately built office park in Saskatoon. Cornerstone Commons was launched this past week by North Prairie Developments, and the brokerage community was out in full force to hear all the details.
Each of the four buildings planned include retail space on the ground floor with upper floors designed to accommodate office tenancies. They’ll be phased in one by one, with possession as early as spring 2016 on the first 54,229 square feet.
Stretched over eight acres, the site features an abundance of free parking at no additional charge to office users.
Phase V East, Preston Crossing
Preston Crossing is ranked Saskatchewan’s No. 1 regional power centre. There’s an existing 687,000 square feet of retail and restaurant users onsite, with approximately 114,000 square feet newly added with this development and the upcoming west end construction.
With high-profile signage and freeway visibility, the site lends itself to a variety of users. There are 1,980- to 9,529-square-foot spots available to lease today along with an opportunity to add up to a 5,230-square-foot pad.
The property is in a location where 100,000-plus vehicles pass daily and in close proximity to the University of Saskatchewan, Innovation Business Park and all newly expanded east-side residential neighbourhoods.
Matrix III and IV, Marquis Industrial
Matrix III will be located at the southwest corner of Millar Avenue and Marquis Drive, which will be the direct link to Saskatoon’s much-needed north commuter bridge. The latest estimate for completion of the new bridge is 2018, and it will place Matrix III right in the heart of the action.
The site sets up well for office or retail users, with pad and commercial retail unit spaces available. There are a variety of ways to set up the 3.93-acre property, and Triovest is patiently waiting on the right tenancies to fill it up.
Matrix IV is aimed at industrial users, with a minimum of 5,000-square-foot warehouse spaces available and increasing up to 430,000 square feet. The site will spread out over 22.83 acres immediately behind the existing Matrix I and II, which currently front Millar Avenue between 64th Street and 66th Street.
With immediate access to some of the north end’s busiest arterial roads, the project will be attractive to tenants needing access to the Yellowhead and Prince Albert highways.
Construction has started on the first building to launch this phase, which will include similar features to the existing Matrix spaces, such as grade and dock level overhead doors, three-phase power and 24-foot ceilings.
The glass is half full
My inner optimistic voice is encouraging me to see the growth for what it is: encouraging and continued belief in the Saskatoon market.
The economic pace may have slowed, but it’s far from stopping altogether. Who knows what 2016 will bring?