Alberta Premier heralds $225 million investment by Ivanhoe Cambridge, Rosenau Transport
January 21, 2015 | General
Significant developments at airport contribute to provincial economy
Today the Edmonton International Airport (EIA) had two significant development announcements that together will bring $225 million in investment to the region and will create approximately 1000 jobs.
Ivanhoé Cambridge announced immediate leasing opportunities for a new retail centre, the Outlet Collection at EIA. Edmonton-based Rosenau Transport Ltd. will move to a new facility on site at EIA that will give Western Canadian shippers the ability to send cargo to Edmonton that can be on a plane to any destination within 24 hours.
Ideally located south of Airport Road, directly adjacent to the Queen Elizabeth II Highway, Ivanhoé Cambridge‘s Outlet Collection at EIA will feature 415,000 square feet of retail outlets offering value from over 100 renowned brands. Outlet Collection at EIA will offer customers a comfortable environment and a new level of shopping experience that caters to all tastes and budgets.
Rosenau Transport Ltd.’s new 210,000 square foot building is being custom built by the Panattoni Development Company and will serve as a distribution centre and warehouse for northern Alberta. The location at EIA provides a strategic operating base for Rosenau Transport Ltd., with immediate access to air cargo carriers, the Queen Elizabeth II Highway (CANAMEX trade corridor) and the Leduc-Nisku Industrial Park (largest energy park in Canada and second largest in North America).
“The announcement of over $225 million in new investment and some thousand new jobs in Alberta is welcome news,” said the Premier of Alberta, Jim Prentice. “These two developments at Edmonton International Airport are solid evidence of Alberta’s attractiveness to investors, and the contributions EIA is making to this region—and our province’s—future growth and success.”
“These two projects will not only generate revenue that will be reinvested into better air service, they will attract more people and more business into the Edmonton Region. That’s good for our airport, for our region and for our province,” said Tom Ruth, President and CEO of Edmonton International Airport.
“We are very pleased with the momentum of this exciting project, a natural evolution of our Mills and Outlet Collection banners,” declared Paul Gleeson, Executive Vice President, Global Development, Ivanhoé Cambridge. “Based on the overwhelming success of our first Outlet Collection at Niagara, which opened in May 2014, and the Outlet Collection at Winnipeg which is to break ground this coming summer, we look forward to bringing this shopping experience with irresistible outlet brands to the people of the greater Edmonton market.”
“We’re creating a major hub between ground and air freight by connecting Rosenau, the largest independent transportation carrier in Western Canada, with Edmonton International Airport, the fastest-growing major airport in the country. This means that freight on a Rosenau truck can leave anywhere in western Canada and be on a plane from Edmonton to the world in 24 hours or less. That’s great news for Albertans and their businesses, and I am proud our company is part of it,” said Rosenau Transport Ltd. President, Carl Rosenau.
“Panattoni Development Company is excited to be part of these developments. We are invested in projects in more than 278 cities throughout Canada, the United States and Europe. In Rosenau Transportation, Edmonton International Airport and the Edmonton region we have confidence that we are part of a great team dedicated to delivering great things for the province of Alberta, its people and its businesses,” said Brad Hoffmann, Vice President, Western Canada.
The Outlet Collection at EIA will draw people into the region and will invest significant capital into EIA. Rosenau Transport Ltd.’s new facility contributes to Port Alberta, a collaboration led by Edmonton Economic Development Corporation (EEDC) and Edmonton International Airport that connects Albertans and their businesses to the world through integrated air, road and rail operations.
About Ivanhoé Cambridge
Ivanhoé Cambridge leverages its high-level expertise in all aspects of real estate including investment, development, asset management, leasing and operations, to deliver optimal returns for its investors. Its assets, held through multiple subsidiaries and located mainly in Canada, the United States, Europe, Brazil and Asia, totalled more than $40 billion (Cdn) as at December 31, 2013. Its portfolio consists mainly of shopping centres, office and multi-residential properties. Ivanhoé Cambridge is a real estate subsidiary of the Caisse de dépôt et placement du Québec (lacaisse.com), one of Canada’s leading institutional fund managers. For more information: ivanhoecambridge.com.
About Rosenau Transport Ltd.
Rosenau Transport Ltd. has been in operation since 1957, and has grown into one of the largest regional carriers in Western Canada. Rosenau Transport is able to provide general freight service between Alberta, Saskatchewan, Northern British Columbia and Manitoba terminals, as well as between a highly developed network of commodity services across the prairies with connections to and from Eastern Canada and the United States. Visit www.rosenau.org for more information.
About Panattoni Development Company
Panattoni Development Company is a commercial real estate development company specializing in industrial, office and retail projects. Panattoni develops, leases and owns industrial, office and retail projects in more than 278 cities throughout the United States, Canada and Europe.
About Edmonton International Airport
Edmonton International Airport is a self-funded, not-for-profit corporation whose mandate is to drive economic prosperity for the Edmonton Region. EIA is Canada’s fastest-growing major airport over the past 10 years, the fifth-busiest airport by passenger traffic and the largest major Canadian airport by land area. EIA offers non-stop connections to more than 60 destinations across Canada, the US, Mexico, the Caribbean and Europe. Please visit www.flyeia.com for more information.