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Issue link: http://digital.canadawide.com/i/1515520
I n a rapidly changing world where end users demand more from their spaces, the industrial real estate market is rid- ing the cusp of change. It faces headwinds, such as speed to market, inflation, financing costs and labour shortages, yet its potential is enticing—so much so that people often flock to industrial when other asset classes experience setbacks. However, the social and economic land- scape has changed what success in industrial real estate looks like. "The future is about hav- ing the leadership, courage and forward-think- ing mindset to innovate within a challenging and complex environment," says Ben Taddei, partner and chief operating officer at Conwest Developments. "Technology, economy and work-life trends are changing the profile of who is using industrial space and what they need it for. That is reshaping the market." A CHANGING INDUSTRIAL SECTOR Taddei should know. Conwest is a local, pri- vately-owned developer with over 41 years' experience throughout the Lower Mainland and a renowned track record of delivering innovative projects. It does so driven by a team of people with the conviction to try something new—even if it is risky. "Our innovation process centres around developing lasting relationships with like-minded partners who support our will- ingness to take measured risk to further our success," Taddei says. "Colliers shares this mentality and offers the expertise to help us remain dynamic and relevant." Colliers, a leading diversified profession- al services and investment management company, has its finger on the pulse of market trends. "This allows us to knowledge share with Conwest so they can anticipate and meet future demand," says Kirk Kuester, executive managing director at Colliers Vancouver. THE NEW FACE OF INDUSTRIAL There may not be a better example of innovation in industrial real estate than Ironworks, North America's first stacked commercial-industrial project, which earned ULI's Global Award of Excellence and Ameri- cas' Award of Excellence in 2023. Success at Ironworks informed HOUSS— an award-winning mixed-use office, com- mercial and industrial building in Mount Pleasant that is one of the first to combine all three asset classes. Its highlight is the restoration of an on-site 1901 heritage home that was integrated into the modern design. Following HOUSS, Conwest and Colliers partnered to develop Riverworks, a state-of- the-art project on southwest Vancouver's wa- terfront that stacks two levels of office strata on two levels of industrial and surrounds the end user in plenty of outdoor space, spacious decks and unobstructed water views. Each project leverages insights from the one before and builds on new ways to develop mixed-use industrial spaces, not just in terms of form and function, but also, in response to specific markets. "These projects demonstrate where the market has to go to be successful," Kuester says. "Everyone was waiting for someone else to take that step. Conwest stepped up." "Partnering with Colliers has empow- ered us to deliver some groundbreaking projects in the industrial asset class, pro- pelling us to the forefront of innovation," Taddei says. "With our shared mindset, we can take bold risks and craft projects that redefine the industrial sector." Industrial real estate: low-hanging fruit or the genesis of innovation? Award-winning developer Conwest is pushing boundaries to redefine industrial real estate, backed by forward-thinking and market know-how from the experts at Colliers. Discover Conwest | conwest.com Connect on Facebook, Instagram and Vimeo @conwestdevelopments or on @Conwest-Developments S P O N S O R E D R E P O R T Created by Canada Wide Media in partnership with Conwest Developments