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.
About Lowe's Canada
Lowe's Companies, Inc. (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
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