Panattoni Property - by the airport

[LikeHamilton]

I was by this property a few days ago and it is booming. I figured that it needs to have it's own thread. I am copying a few page already posted as they seem to be in multiple places.

This is the lands by the airport at Upper James and Dickenson.

[LikeHamilton]

By SteelTown

Development firm spends $27M on Hamilton airport land eyed for big warehouse
Builder’s clients include Canadian Tire, Coca-Cola, BMW, Suncor, Carlton Cards and Loblaw.

https://www.thespec.com/news-story/9...big-warehouse/

A large industrial warehouse developer has become the first major investor in Hamilton's airport employment lands.

Panattoni Development Company has bought 82 acres on the southwest corner of Upper James Street and Dickinson Road for about $27 million.

The firm plans to construct a million-square-foot building and six smaller ones on the site it bought from former senator David Braley.

"In the case of Hamilton, we're confident in the market," Adam Lambros, development manager, said Monday.

The project also represents a major windfall for the city, which would generate about $6 million in development charges with just a 500,000-square-foot build.

"To put that in context, that is significantly larger than the existing Maple Leaf processing plan in Binbrook," said Glen Norton, the city's economic development director.

One of the advantages of the serviced site is proximity to John C. Munro Hamilton International Airport, Lambros said.

These days, industrial warehouses are top of mind for online retailers like Amazon and Wayfair that rely on quick delivery, he said.

"Those are the types of companies we try to build for."

Panattoni bills itself as "one of the largest privately held, full-service developers in North America" with more than 24 regional offices in the United States, Canada and Europe.

Some of its clients include Canadian Tire, Coca-Cola, BMW, Suncor, Carlton Cards and Loblaw.

Panattoni is building a million-square-foot manufacturing facility for Adidas Canada in Brant County. It has constructed a 145,000-square-foot "spec flex office" complex in Mississauga that has eight tenants.

Panattoni doesn't yet have tenants for the Hamilton land but is confident it will line some up.

Lambros said the Hamilton area offers a large population within a quick drive, access to highways and a strong labour pool.

"When you check all of those boxes, we thought, 'Why not?'"

Norton said the site plan is expected to be submitted to the city's planning department by the end of November.

The airport employment lands, also known as "aerotropolis," were the subject of an Ontario Municipal Board dispute that ended in February 2015.

The OMB approval green-lighted the 1,360-acre boundary push, which is the largest expansion in Hamilton's history.

The employment district includes city-owned and private parcels within Garner Road, Twenty Road, Upper James Street and Highway 6.

Norton said the remainder of the area's servicing — sewer and water pipes, for instance — is expected to be in place within four years.

"We're tying to accelerate that based on what we think is going to be quite a big demand."

He expects the Panattoni purchase to spark more interest in the area with industrial space in the fast-growing GTA at a premium.

One handicap for Hamilton has been a lack of ready-to-use industrial space. The vacancy rate is less than two per cent, Norton said.

"We've actually missed out on potential new businesses moving to this city because there wasn't space to move into."

Lambros said he hopes to start construction in spring and anticipates the project to take about 15 months.

https://dynamicmedia.zuza.com/zz/m/o...r_Portrait.jpg

[LikeHamilton]

By SteelTown

Pleased to break ground with Panattoni Canada at its new logistics facility near @flyyhm. Panattoni is investing in #HamOnt as it believes in our community, airport, & Airport Employment Growth District. This means 200 high value, high-paying jobs & increased prosperity for all.

https://pbs.twimg.com/media/EHfkdbKW...pg&name=medium

https://pbs.twimg.com/media/EHfkdbjW...pg&name=medium

[LikeHamilton]

Aeropark Plans

http://www.panattonicanada.com/wp-co...Res_spread.pdf

[LikeHamilton]

By ScreamingViking

Excerpts with more details, from the Spec's story on it:

www.thespec.com/news/hamilton-region/2019/10/23/hamilton-airport-development-launches-with-30-million-warehouse.html


Hamilton airport development launches with $30-million warehouse

Panattoni project marks major milestone in city’s vision for an Airport Employment Growth District

by Tom Hogue The Hamilton SpectatorOctober 22, 2019

...

Developer Panattoni officially broke ground Tuesday on a $30-million warehouse it will build even though there is no tenant for the 264,535-square-foot space at 50 Aeropark Blvd.

It's a "speculative" investment, but not the first for the privately held property giant that has 320 million square feet of space across North America and Britain and a Rolodex of clients that includes Coca-Cola, Canadian Tire and Adidas.

"We're building it without a tenant because we've got confidence in the marketplace, we've got confidence in the city," said Panattoni executive vice-president Michael Smele, who noted that 80 per cent of its projects start with a similar build-it-and-they-will-come strategy.

...

Panattoni bought the 82-acre Aeropark site near Upper James Street and Dickenson Road West last year for $27 million with the intention of developing 1.6 million square feet in stages.

The first building is expected to be ready for occupancy in the fall of 2020 as a single warehouse with 44 truck bays or divided up into offices for as many as 200 staff.

Meanwhile, the next Aeropark building is expected to be four times the size of the first at more than 1 million square feet, and will be built in two phases.

...

Though Panattoni is just beginning to develop the 82-acre site, the company is nonetheless buying other property nearby. Smele announced Tuesday that the company is purchasing a 90-acre parcel of land across Dickenson in a $17-million deal expected to close in mid-November.

An unnamed developer is also expected to close a deal in January to buy 140 acres next door on Dickenson, according to Guy Paparella, director of growth planning for the city's Economic Development Department.

...

The next piece of the puzzle is managing truck traffic along Dickenson and around the new warehouse complex, where roughly six million square feet of development is planned between Panattoni and the unidentified developer next door.

To keep trucks off Upper James, an environmental assessment is underway to expand Dickenson to four lanes from two and extend it past Glancaster Road on a new, direct road to Book Road and the Highway 6 bypass.

[LikeHamilton]

by thistleclub

264,534 square feet, with divisions available from 39,761 square feet.

An additional 1.24 million square feet allegedly in the pipeline.

[LikeHamilton]

Airport Employment Growth District

https://www.hamilton.ca/city-plannin...rowth-district

[LikeHamilton]

Some of this is new, some is not.

Hamilton’s airport poised to be the city’s next big industrial ambition

Brought to you by Forge & Foster Investment Management. Alex Manojlovich

08 June 2020 Urbanicity

For decades, Hamilton has been seen as a hotbed for production in part by its advantageous geographic location and features. To this day, the Port of Hamilton is the busiest of all the Great Lake ports and the 4th busiest in the entire country.

Hamilton’s airport, the John C. Munro International Airport, is now having its moment — poising itself as an ulterior option for modern industrial ambition.

For the past few years the Hamilton airport has received regular attention from prospective real estate developers. Residential development transactions such as LIV Developments purchasing 127 acres of land for $30 million northwest of the airport in September signifies that families will be moving to the area — but it’s a brushstroke in the larger picture of what’s to come for the area.

The City of Hamilton has identified the area immediately surrounding the airport as the Airport Employment Growth District (AEGD). The AEGD includes 551 hectares of developable employment land along with airport-specific industrial zoning to help develop and support the airport and by extension, the city, for future growth.

One of the largest and enticing attributes of the airport is its lack of curfew restrictions, which provides planes the ability to land or take off whenever required. Logistical and last mile warehousing development is also expected to begin in the near future.

In the last two years, John C. Munro Hamilton International Airport has become North America’s fastest growing airport and the busiest night time cargo airport in the country. Last year, ridership was up 32% year over year to 955,373 passengers with cargo activity up by 21%.

This has led existing tenant DHL to expand by building a new $100 million 200,000 square-foot facility, which effectively quadrupled its previous space and will include a new cargo flight between London, UK and Hamilton.

The Hamilton Spectator reported that DHL has witnessed the number of packages shipped to Canada double since 2014 with 60% coming through Hamilton.

Panattoni, an international sized company – whose previous clients include Unilever and Coca-Cola – purchased 82 acres of land by Aeropark Blvd in 2018, which has already broken ground and is now pre-leasing “Aeropark”.

The first of Panattoni’s developments – 50 Aeropark Blvd – http://www.panattonicanada.com/wp-co...Res_spread.pdf - is a $30 million project that will accommodate 264,535 square-feet of logistical space, while the next phase will be more than 1,000,000 square-feet. All of this is being built speculatively, meaning without a tenant in place as that’s how voracious activity has been at the Hamilton airport.

In November 2019, Panattoni acquired a further 87 acres north of the Airport on Dickenson Rd.

A few months earlier in June 2019, Rice Group purchased 53 acres south of Aeropark, which is expected to become further warehousing infrastructure. Interesting of note is that their website claims a total of 86 acres being available. https://www.ricegroup.ca/site_files/...rport_2019.pdf

More recently in January 2020, 53 acres of land were purchased south of the airport by a private individual and in February 2020, Broccolini Construction, a large developer of varying asset classes hailing from Montreal, had purchased 99 acres of land directly north of the airport. https://www.broccolini.com/en/land/hamilton

Aerotek is also making a big move to the area. A new 75,000 square-foot hangar was completed in late 2019 for KF Aerospace to accept expanded work. This is part of a $40 million investment that will also include a 70,000 square-foot training facility for Mohawk College’s aviation programs. KF Aerospace has also said it’s expected to create over 200 jobs by 2022.

All of this activity is especially impressive when considering these acquisitions and plans took place before the outset of COVID-19 and the acceleration of e-commerce. The subsequent increased demand of last-mile logistical space appears to have been a bet well made for many of these players.

With so much concentrated investment in such a short time frame, expect to see rapid growth in this area over the coming years.

https://urbanicity.com/hamilton/real...nVnzx5f91oh7CQ

[LikeHamilton]

First lease scheduled for Q4 2020 completion.

First lease scheduled for Q4 2020 completion [url=https://www.flickr.com/photos/152405135@N06/]

[LikeHamilton]

There is so much more going on there then just the one building. They are grading and putting down a base for what looks like several buildings at once. They are also drilling dozens of post holes for building 1.

Map of the park

Aeropark YHM ,

Present development

Present construction 02 [url=https://www.flickr.com/photos/152405135@N06/]
Present construction 01 ,

Lots of new sewers going in. Road extensions? New buildings?

Lots of new sewers going in Drilling in the area where building one is going [url=https://www.flickr.com/photos/152405135@N06/]

Building 4 area

Building 4 area [url=https://www.flickr.com/photos/152405135@N06/]

Across Upper James, a new car dealership. Unknown who.

New car dealership going in across from Panattoni Aeropark YHM ,

[Innsertnamehere]

I believe that’s a new Kia dealer.

[king10]

Originally Posted by Innsertnamehere

I believe that’s a new Kia dealer.

Don’t they have a relatively new dealership just North of here? I remember when they used to be around King and Wentworth.

[LikeHamilton]

Originally Posted by king10

Don’t they have a relatively new dealership just North of here? I remember when they used to be around King and Wentworth.

Kia of Hamilton
1885 Upper James St, Hamilton

[LikeHamilton]

Just found this in Development Applications.

110 AEROPARK BLVD

To develop the 24.6 hectare site with four single-storey warehousing having a combined floor area of 130,000 SqM with parking, trailer staging and on-site maneuvering areas. Buildings 1 and 5 have been final approved.

Building 1 is the 1 million Sq ft building.

[Dr Awesomesauce]

I was anti-Aerotropolis because, as I recall, it involved a great deal of public monies. And it did seem to me to be a case of the horse already having left the barn i.e. a proposal that should have been made 30-40 years ago.

I am not, however, anti-airport development. These future jobs are very nice to see.

[chris06299]

Originally Posted by Innsertnamehere

I believe that’s a new Kia dealer.

It’s the new dealership for Mountain Mitsubishi.

[SteelTown]

Originally Posted by LikeHamilton

Just found this in Development Applications.

110 AEROPARK BLVD

Building 1 is the 1 million Sq ft building.

Looks like we now know it's Amazon that is Building # 1, and 1,500 jobs.

The City is gonna have to beef up the A-Line.

[Innsertnamehere]

https://www.newswire.ca/news-release...834037160.html


The article says 855,000sf, which is smaller than the 1,000,000sf building proposed here. Not sure if they just aren't taking the whole building or what, but there aren't a whole lot of options for buildings of that size in the city.

I always suspected this would be Amazon.

[bigguy1231]

It looks like Amazon is moving in to one of those buildings providing 1500 jobs.

[StEC]

Originally Posted by SteelTown

Looks like we now know it's Amazon that is Building # 1, and 1,500 jobs.

The City is gonna have to beef up the A-Line.

The A-Line will definitely need to be rejigged and need to run every 10mins to accommodate the sheer amount of people that will eventually be working on the airport lands!

Also I wonder how many of these of new jobs coming to this district are 24hrs around the clock. The city may need to look at extending bus hours on certain routes this one in particular.