Winnipeg-based Qualico Developments has acquired 340 acres in northeast Edmonton from Walton Global of Arizona.
The purchase closed July 12 and was announced August 9. Financial terms were not disclosed.
Known as Duggan Ranch, the site is designated for more than 1,700 new single-family homes and 24 acres of commercial and multi-family development under the Marquis area master plan. The site will also include green spaces, multi-use paths, playgrounds, and other community infrastructure.
The parcel is adjacent to the Edmonton Energy and Technology Park, projected to become one of Edmonton’s largest employment areas with an anticipated 80,000 to 100,000 jobs in the petrochemical, manufacturing, research and development and logistics industries.
Qualico’s development will provide housing for workers and builds on Qualico’s work to date building the Marquis community.
Qualico acquired 334 acres from Walton in August 2018 for residential development, and MLC Group Inc. purchased a further 186 acres from Walton the same year.
“The sale of Duggan Ranch represents Walton Global’s commitment to the region’s rapid growth,” a press release from the vendor announcing the deal said.
Walton manages more than 3,500 acres of residential and commercial development land in the Edmonton area.
Qualico Group declined comment on the acquisition. However, the company is an active player in the Edmonton market with three other residential communities.
The group is also an active player in Edmonton’s industrial market, where close to 2 million square feet were under construction at the end of the second quarter. Of this, 1.4 million square feet are set for completion by the end of the year, on top of nearly 295,000 square feet delivered during the first half of the year.
Projects include a new purpose-built facility for furniture retailer The Brick in Qualico Group’s North 170 Henday Business Park. The 500,000-square-foot facility is a step up from The Brick's existing 365,000-square-foot distribution centre, and includes state-of-the-art equipment that facilitates faster fulfillment of orders.
“That’s taking advantage of better space, more land, the ability to expand their footprint,” Darling said.
Similarly, Home Depot relocated to a new 129,600-square-foot purpose-built distribution facility Qualico developed for it in the Acheson industrial area. A second phase that of 77,000 sq square feet will bring that total size to 206,600 square feet, with an additional 87,000 square feet of outdoor storage area.
Qualico's extensive, cost-effective land base was key to securing build-to-suit lease agreements for both Home Depot and The Brick, according to Jeff Sutherland, Jeff Sutherland, vice-president, national leasing and sales with Qualico Properties.
