Developed by Highfield
Investment Group and expected to open in the fall of 2021, the new
facility will represent a total joint investment of more than
$120 million
BOUCHERVILLE, QC, June 10, 2020 /CNW Telbec/ - Lowe's
Canada, one of Canada's leading home improvement retailers
operating or servicing more than 470 corporate and affiliated
stores under different banners, and Highfield Investment Group, a
Calgary-based investment company
that operates and manages assets in residential and commercial real
estate developments and construction, are pleased to announce that
they have entered into a definitive agreement for the construction
of a new Lowe's Canada
distribution centre in the High Plains Industrial Park, within
Rocky View County northeast of Calgary. This project is part of Lowe's
Canada's plans to optimize its
Canadian distribution network to better meet the needs and
expectations of its in-store and online customers. The new
1,230,000-square-foot facility is expected to open in the fall of
2021 and will represent a joint investment of more than
$120 million.
"This new distribution centre will allow us to substantially
enhance our distribution network capacity and serve our Lowe's and
RONA corporate stores and customers, as well as our RONA affiliated
dealers, more efficiently throughout Western Canada," said Gregor Stuart, Senior Vice-President, Supply
Chain at Lowe's Canada. "We are
thrilled with this new venture. With the recent acquisition of our
Boucherville distribution centre
in Quebec, it is yet further
evidence of Lowe's Canada's
commitment to always better serving our Canadian customers."
"High Plains Industrial Park is centre ice for corporate
Canada's western distribution
centres and ecommerce fulfillment facilities due to its excellent
transportation efficiencies, outstanding labour force, and
compelling rent economics," said Adrian
Munro, President, Highfield Investment Group. "We're excited
to be the developer of choice for the largest leased distribution
centre in Western Canada."
Alberta Premier Jason Kenney commented that "This is great news
for Alberta. The construction of
the new Lowe's Canada distribution centre will create jobs for
Albertans when they are needed most. Once complete, this new
facility will employ Albertans for years to come, and demonstrates
a vote of confidence in our province's future."
The construction of this new distribution centre is commencing
in June 2020. Ideally located in the
High Plains Industrial Park, it will consolidate the capacity of
several existing Lowe's Canada
satellite warehouses and regional distribution centres located in
the Calgary market.
Lowe's Canada's existing distribution centre, located at 2015,
60 Street SE in Calgary, will not
be impacted by this project and will remain in operation.
Reeve Greg Boehlke, Rocky View
County councillor, added: "Rocky View County is delighted to
welcome Lowe's Canada. The County has focused on
attracting world-class logistics facilities through strong
transportation corridors, competitive taxes, and reasonable
regulatory requirements. We know the Lowe's Canada distribution centre will be a great
success for the company and the community."
Advisors and partners
Advisors and partners to the
parties to the transaction include Jones Lang LaSalle Brokerage for
Lowe's Canada, and CBRE, Hillwood,
and Highwood for Highfield Investment Group.
To share this news on social media, please use @Lowe's
Canada (LinkedIn) and
@LowesCanadaCorp (Twitter).
About Lowe's Canada
Lowe's Companies, Inc. (NYSE: LOW) is a FORTUNE® 50
home improvement company serving approximately 18 million customers
a week in the United States and
Canada. With fiscal year 2019
sales of $72.1 billion, Lowe's and
its related businesses operate or service more than 2,200 home
improvement and hardware stores and employ approximately 300,000
associates. Based in Boucherville,
Quebec, Lowe's Canadian business, together with its wholly
owned subsidiary, RONA inc., operates or services more than 470
corporate and independent affiliate dealer stores in a number of
complementary formats under different banners. These include
Lowe's, RONA, Réno-Dépôt and Dick's Lumber. In Canada, the companies have more than 26,000
associates, in addition to approximately 5,000 employees in the
stores of independent affiliate dealers operating under the RONA
banner. For more information, visit lowescanada.ca.
About Highfield Investment Group
Highfield
Investment Group is a diversified investment company that operates
and manages assets in residential, commercial & industrial real
estate developments, construction, property management, oil &
gas, hospitality, farming operation, and thoroughbred racing &
breeding operation. With a 4000-acre assembly of land
currently under management, Highfield is one of the largest
privately owned and independent land developers in
Calgary. Highfield's portfolio includes High Plains Industrial
Park, a 1,100-acre master planned industrial park located in
Rockyview County. High Plains is home to many corporate clients
such as GFS, Smucker's, Borger, Sobeys and Penske. High Plains has
close to 3 million sq. ft. under roof since construction inception
in 2012.
SOURCE Lowe's Canada