The site of the former Hammond Cedar mill is in the process of being sold.
Mike Mackay, director of corporate development and planning for owner Interfor, said the property has attracted a number of potential buyers, including developers.
“We’ve had quite a bit of interest in it,” said Mackay.
“There’s a sale process, and we’re working through that now.”
He explained it’s rare in the Lower Mainland for buyers to find a sizable site, 11 hectares, that is ready to develop. The site is on Maple Crescent near the Golden Ears Bridge.
“It’s a large piece of property, and it’s zoned industrial. There’s not a lot of industrial land in the Lower Mainland,” Mackay said, noting waterfront access and railway access are other factors that could benefit a new industry there.
Interfor has hired Cushman and Wakefield, a commercial real estate services firm, to market the property. A buyer will be chosen through a competitive bid process.
Mackay declined to name potential buyers, the expected sale price, or the timeline for the sale. He said Interfor is a public company, and will announce the sale when it happens.
Four hectares of industrial land on a site in Surrey sold for $23 million in March, according to Western Investor.
READ ALSO: Friday was last shift at Hammond Cedar for many
The Hammond Cedar sawmill operated from 1908 until its closure in September last year. There were approximately 150 regular employees at the mill, in addition to contractors.
The city lost approximately $600,000 Hammond Cedar had been paying in property taxes.
mailto:ncorbett@mapleridgenews.com
ncorbett@mapleridgenews.com
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