A rendering of 200 Intermarket Rd., in Cambridge, which will soon be under construction at the IP Park. (Courtesy Intermarket Properties)
Intermarket Properties has already built three buildings on its 80-acre IP Park site in Cambridge, just west of Toronto, and now they’re set to add three more structures there.
Intermarket put together the land, got it zoned and serviced it all as part of the IP Park master plan. The location is super convenient near highways 401 and 8, and when finished, the park will hold about 1.5 million square feet across 15 industrial and data centre buildings.
They previously sold nearby land to Healthcare of Ontario Pension Plan for their huge i Port Cambridge logistics and industrial campus-over four million square feet. Fengate and Dream own other neighboring industrial spots too, along with a Loblaws distribution centre, an Amazon facility, and a Toyota plant close by.
“We’re small-bay industrial with nothing over 150,000 square feet, and the big players around us are all large distribution centres,” Intermarket development manager Xavier Kindrachuk told RENX. He added that their first three buildings on Boychuk Drive were all under 120,000 square feet.
The first trio of buildings at IP Park are done
One building was bought by Angstrom Engineering while the other two have tenants renting them. A recent deal secured almost 45,000 square feet for a branch of Hong Sheng Thermal Systems at 140 Boychuk Dr.
“The lenders that we’ve been using have been really happy with us because our projects have all come under budget and been completed before we initially thought,” Kindrachuk said.
The park is also close to plenty of restaurants and shops. Plus, a future Grand River Transit bus stop along with a GO Transit station will make getting there pretty easy.
The master plan includes trails connecting green spaces like wetlands, wooded areas, and possibly a park. There’s also several environmental, social and governance efforts aimed at keeping things sustainable for both the project itself and those who’ll work there.
Details on 200 Intermarket Rd. & 155 Boychuk Dr.
The second phase includes these sites: 200 Intermarket Rd., represented by JLL; 155 Boychuk Dr., represented by CBRE; plus 175 Boychuk Dr., handled by Cushman & Wakefield.
The first one to start being built will be at 200 Intermarket-a new industrial building covering about 85,878 square feet set to break ground this May. It’ll have an interior height of 24 feet clear ceiling height along with eight truck-level doors, eight drive-in doors plus parking for over two hundred vehicles.
This space can be divided into units starting from fifteen thousand square feet upwards. They’ve already signed letters of intent covering over half the building’s area.
The building planned for 155 Boychuk will be around one hundred fifty thousand square feet also split into smaller parts if needed. It’ll feature a taller ceiling at twenty-eight foot clear height plus ten truck-level doors alongside two drive-in ones; there’s outdoor storage space too plus room for two hundred fifty-eight cars parked outside.
“There’s not very many 400,000- or 500,000-square-foot users out there,” Mark Kindrachuk – founder & president of Intermarket as well as Xavier’s father – told RENX separately
“A lot of local companies now look for spaces between fifteen thousand up to forty-five thousand sq ft – that’s where most deals happen here in Waterloo Region.”
Xavier added that because lenders remain cautious due to economic uncertainty right now construction won’t start on those next two buildings until they find tenants willing to lease them fully or partially upfront.
A data centre coming soon at 175 Boychuk Dr.
At 175 Boychuk they’re planning to build just the shell structure for a custom-fit data centre while another company has been hired separately to do all interior work inside it later on.
The proposal includes options for either an eighty-thousand-square-foot single-storey facility or a larger one about one hundred sixty-thousand sq ft spread across two floors. Power supply rated at fifteen megawatts should be ready by early first quarter in twenty twenty-seven according to plans so far.
A few years ago they sold five acres nearby where Grand Bridge Energy built infrastructure supplying electricity including transformers capable reaching up towards one hundred megawatts expected around twenty twenty-eight – mainly servicing this area’s growing data centre needs.
This spot sits next door right beside Waterloo Region’s water tower which helps cool down data servers running constantly here – also five different fibre internet providers cover this location providing strong connectivity links needed badly inside such tech operations.
A perfect spot for data centres
“We have power , fibre , water , everything else essential – plus we’re located within Waterloo Region known as technology hub , so we decided recently focusing heavily now towards developing these kinds centers specifically,” said Mark Kindrachuk.” We’ve sharpened marketing efforts trying targeting these opportunities based mostly around advantages offered uniquely here.”
Mark also shared how they’ve teamed up recently with Waterloo Regional authorities aiming eventually recycling heat generated from these large server farms back toward heating neighbouring offices/buildings nearby – engineers consultants studying practical ways implement this idea smoothly he noted.
“Our expectation after finishing initial data centre build then getting new transformer installed properly – we’ll quickly move ahead adding more similar developments since majority sites allowed zoning-wise”, Xavier explained.
Toronto-based firm founded back in nineteen ninety seven by Mark specializes not only constructing but managing real estate involving investment advisory consulting services related broadly within sector.
This company backed privately without pension funds involved remains nimble adaptable enabling quicker decision-making avoiding heavy bureaucracy,” Xavier said plainly.”
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