Thursday, March 3, 2016 - Regina, Saskatchewan
The Global Transportation Hub (GTH) has reached an agreement in principle to sell 30 acres of property to Brightenview Development International Inc. for a sale price of $256,000 per acre. This $7.6 million deal will bring expanded economic activity and trade to Saskatchewan. Further details on Brightenview’s proposed development plan will be released when conditions are removed, which is expected later this year.
“The opportunity at the GTH was a perfect fit for our business development vision for Saskatchewan,” said Joe Zhou, Brightenview’s Chief Executive Officer. “In addition to the appealing infrastructure and logistical support, the GTH’s recent designation as a Foreign Trade Zone (FTZ) point in Canada, is a critical value offering to complete our business model.”
Zhou added that Brightenview’s confidence in Saskatchewan is further demonstrated by their commitment to also invest and develop in Dundurn SK.
“We are very pleased to have a private-sector company with international reach invest in Saskatchewan and at the GTH,” said Bryan Richards, GTH President and Chief Executive Officer. “Our FTZ and ability to provide access to key transportation infrastructure make the GTH a logical home for companies participating in import and export activity. The GTH is an excellent fit for Brightenview’s needs and we look forward to working with them as they develop this opportunity and expand their presence in Saskatchewan.”
Currently, nine clients active in transportation, warehousing and distribution and related supply-chain activities operate out of the GTH. It has attracted $485 million in private investment and employs more than 750 people.
Over the past year, the GTH has signed a number of agreements that enhance its service to the transportation community. Last fall, Slinkemo Enterprises launched its drayage and container repair, storage and maintenance complex, while Sterling Truck and Trailer, a major supplier to Loblaw in terms of leasing and truck repair services, will open their business later this year.
In November, the GTH sold 13 acres worth $2.6 million to a private company to begin preliminary planning and development of a commercial services centre located at the northeast corner of the footprint. Construction is expected to start in 2016 and will add amenities that support the needs of transportation companies.
“We are very optimistic about the progress being made at the GTH,” said Richards. “This latest announcement is a positive sign that the development of the GTH is progressing as it should – nationally and internationally.”
Currently, the GTH is in active discussions with a number of prospective clients. Included among them are local, national and international companies.
Comprising 1,800 acres, the GTH helps local, national and international companies connect to global markets through an efficient rail and road infrastructure. Ideally situated adjacent to the CP Rail mainline and directly connected to the Trans Canada and Yellowhead National Highway systems, the GTH offers accessible and efficient transportation access to markets across the globe. The GTH offers land for sale or lease to businesses in the following segments: transportation and logistics, warehousing and distribution, import and export operations, as well as light processing and manufacturing.
Curtsey of the Global Transportation Hub.