The Canada Post building in downtown Vancouver, which occupies an entire block between Georgia, Dunsmuir, Homer and Hamilton has been sold for $125 million to a Victoria investment firm that manages pensions and government funds.
The new home of Canada Post will be a brand new state-of-the-art facility at the Vancouver International Airport. Canada Post is investing $200 million in the new multi-purpose processing facility and related equipment. The plant, located on Ferguson Road, will process letters, parcels, packets and advertising mail under one roof. Construction the 700,000-square-foot facility began in fall of 2011 and is expected to complete in 2014.
YVR’s location was chosen to improve Canada Posts’ access to vital transportation links, and open the way for synergies with the airlines and the cargo community that are already here.
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