Image: Mike Vanden Bosch / Pattison Media / The Legacy Pacific building at 6333 Unsworth Road in Chilliwack is pictured. Bosa Properties announced on Wednesday (October 4) it has acquired the Legacy Pacific industrial park in Chilliwack from Legacy Pacific Land Corporation, a transaction that will transfer ownership of more than 460,000 square feet of buildings and future development space. The transaction was led by global commercial real estate advisor Avison Young, and signifies the largest industrial sale in Chilliwack's history to date. 

By Mike Vanden Bosch

Bosa acquires Chilliwack industrial park

Bosa acquires Legacy Pacific industrial park, resulting in $250K donation to Chilliwack Hospital Foundation

Oct 5, 2023 | 9:17 AM

CHILLIWACK — Bosa Properties announced on Wednesday (October 4) that it has acquired the Legacy Pacific industrial park in Chilliwack from Legacy Pacific Land Corporation, a transaction that will transfer ownership of more than 460,000 square feet of buildings and future development space.

The transaction was led by global commercial real estate advisor Avison Young, and signifies the largest industrial sale in Chilliwack’s history to date. It also highlights what Bosa says is the growing importance of the Fraser Valley industrial market to British Columbia’s economy.

The sale of 44500 and 44688 South Sumas Road and 6333 Unsworth Road closed on September 28, 2023, consisting of over 300,000 square feet of existing buildings in addition to 160,000 square feet of additional development density on 37 acres.

Image: Mike Vanden Bosch / Pattison Media / Bosa Properties has acquired Legacy Pacific buildings like this one at 44500 South Sumas Road in what is the largest industrial land sale in Chilliwack’s history to date. The transaction closed in late September 2023.

In recognition of the transaction and their shared commitment to supporting communities, Legacy Pacific, BPI (through the Robert Bosa Foundation) and Avison Young will jointly donate $250,000 to the Chilliwack Hospital Foundation.

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Since its establishment in 1996, Legacy Pacific has been a leading industrial developer in Chilliwack, revitalizing nearly 300,000 square feet of formerly vacant buildings and developing an impressive 525,000 square feet of new structures in the city. Their efforts have significantly contributed to the local economy by creating jobs and stimulating growth. BPI’s strategic decision to acquire a notable piece of Legacy Pacific’s industrial property portfolio, and its plans to develop adjacent lands, reflect the growth and ongoing evolution of the company within the province and its commitment to long-term investment and growth in industrial real estate.

Bosa says the sale reinforces British Columbia’s position as one of North America’s strongest industrial markets. In the first half of 2023, per Avison Young’s latest report, industrial investment in the province remained resilient relative to other asset classes, with industrial representing 72 per cent of all investment transactions in British Columbia in the first six months of 2023.

As a result of the transaction, Bosa Properties, Legacy Pacific and Avison Young are pledging their commitment to the broader community by making a substantial donation of $250,000 to the Chilliwack Hospital Foundation. According to a news release from the foundation, the donation will be used to purchase cutting-edge medical equipment for Chilliwack General Hospital.

The equipment includes a Zeiss Callisto eye system for computer-assisted eye surgery, a Gynnie gynecological stretcher, two new ventilators for the ICU and a new treadmill stress-testing system.

Dr. Walter DeBruin, an ophthalmologist, said, “The Callisto eye sytem is definitely an upgrade from before and a major step in improving outcomes.”

Respiratory therapist Gaurav Kumar added that the new ventilators will make patient care more efficient and safe.

Harry Geddes, president of the Chilliwack Hospital Foundation, praised the companies for their commitment to improving health care through their magnanimous donation.

Image: Chilliwack Hospital Foundation / Chilliwack resident Harry Geddes, president of the Chilliwack Hospital Foundation, applauded Bosa Properties, Legacy Pacific and Avison Young for their pledge to donate $250,000 to the Chilliwack Hospital Foundation. The generous donation will be used to purchase equipment like ICU ventilators.

“This donation exemplifies the spirit of community, and compassion,” Geddes said. “We are deeply thankful to Bosa Properties, Legacy Pacific and Avison Young for their exceptional support. Together, we are making a significant difference in the lives of the citizens of Chilliwack.”