Morguard and Global Transportation Hub Sign Conditional Deal

The Global Transportation Hub (GTH) has entered into a conditional sales agreement with Morguard Investments Limited that would provide leased facilities designed for the transportation and distribution sector.  If finalized, the purchase would include an initial 50 acres in 2013 with the option for additional land in future years.
 
Deputy Premier Ken Krawetz said the agreement with Morguard represents an important investment in our province.
 
"The GTH is Saskatchewan's commitment to developing a supply chain, logistics and transportation infrastructure that will support global trade for generations to come" Krawetz said. "We are pleased with Morguard's interest in the GTH."
 
"Institutional investors like our Canadian pension fund clients are looking for quality, long-term real estate investment opportunities," Morguard Senior Vice President of Development Margaret Knowles said. "We view the Global Transportation Hub in the context of the dynamic growth and potential of Regina and Saskatchewan as just such an opportunity.  Our focus will be to provide sustainable, top quality multi- tenant and design build leased premises to tenants operating in the transportation and distribution sectors.  This agreement offers a private sector led solution to attract and secure companies seeking leased premises."
 
Morguard is one of Canada's leading fully integrated real estate organizations, with more than 1,400 employees and more than $12 billion in managed assets.  Morguard is a publically-traded company.  The conditional sale is due to close in June 2013.
 
The agreement requires Morguard to adhere to the permitted land uses consistent with the GTH mandate, which includes transportation, distribution, light manufacturing, warehouse and related ancillary components.
 
The GTH has already added two new operations in 2013.  In February, Emterra Group of Companies, the City of Regina's new curbside recycler announced an $18 million investment, and in March, the Saskatchewan Liquor and Gaming Authority announced it will construct a 145,000 square foot warehouse and distribution centre at the GTH.
 
They joined Loblaw, Canadian Pacific Rail, the Yanke Group of Companies and Consolidated Fastfrate as tenants of the GTH.  In total, the six companies represent $348 million of private sector investment in the GTH.

on April 29, 2013