VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan. 14, 2014) - Cushman & Wakefield Ltd. is pleased to announce that construction has begun on the Eagle Creek Village mixed-use development.
Eagle Creek Village is a 14.33 acre two phase mixed-use development at Helmcken Road and Watkiss Way in View Royal, BC. Phase I of the project, spanning across 8.18 acres, is to include 100,000 square feet of commercial retail space, 76,000 square feet of professional office space and 60 market rental units. Phase II will encompass market residential product for sale over a 2.26 acre lot. Lastly, 3.89 acres of the development site will be donated as community parkland to the Town of View Royal.
The View Royal community has been incredibly receptive to the Eagle Creek Village development. One of the City's advocates, Councilor John Rogers, said, "This is one of the most significant developments our town has had."
Commercial real estate firm Cushman & Wakefield has brought together the developer Omicron Development Inc., and investment manager Blackwood Partners in the transaction. The deal also included a contribution to the capital costs of View Royal's new public safety program.
Cushman & Wakefield has also been hired to complete the project leasing. The anchor tenant will be Quality Foods leasing a total of 40,000 square feet. Other confirmed tenants include YMCA/YWCA, Cascadia Liquor and Forbes Pharmacy with many more exciting opportunities in the pipeline.
Adam Frizzell, part of the Cushman & Wakefield leasing team said, "The landlord has received numerous competing offers from almost all other categories. This allows the landlord to strategically choose those tenants that will create the best synergy. Site work has commenced, and the project is moving ahead nicely."
The Eagle Creek Village site is currently in the excavation stage and is expected to be substantially completed for tenant occupancy in 2015.
NOTE TO EDITORS: High resolution renderings of the development are available on request.
Cushman & Wakefield is the world's largest privately‐held commercial real estate services firm. The company advises and represents clients on all aspects of property occupancy and investment, and has established a preeminent position in the world's major markets, as evidenced by its frequent involvement in many of the most significant property leases, sales and management assignments. Founded in 1917, it has approximately 250 offices in 60 countries, employing more than 16,000 professionals. It offers a complete range of services for all property types, including leasing, sales and acquisitions, equity, debt and structured finance, corporate finance and investment banking, corporate services, property management, facilities management, project management, consulting and appraisal. The firm has nearly $4 billion in assets under management globally. A recognized leader in local and global real estate research, the firm publishes its market information and studies online at www.cushmanwakefield.com/knowledge.
Omicron is one of the largest integrated development services, design and construction firms in Western Canada, combining the expertise of over 200 architects, interior designers, engineers, building assessment experts, real estate development strategists, cost estimators, project managers, construction personnel, maintenance technicians and corporate support professionals. Omicron delivers a better experience for clients in the Retail, Institutional, Commercial, Industrial, Building Renewal, Residential and Oil and Gas sectors.
Blackwood Partners is a real estate investment advisory, asset management and transaction management services firm advising pension funds, private investors and both public and private sector corporations. Blackwood Partners transacts throughout North America for both domestic and international clients and has acquired more than $2 billion of office, retail and industrial properties across Canada and have offices in Toronto, Edmonton and Vancouver.