Real Estate and Development

FedEx Freight to build $20 million-plus warehouse in Surrey


Wed Jul 18, 2012 10:00am PST

FedEx Freight announced July 17 that it would spend more than $20 million to build a 40,000-square-foot warehouse in Surrey.

That’s the largest investment that the FedEx Corp. (NYSE:FDX) subsidiary has ever made in North America, spokesman James Anderson told Business in Vancouver.

“The cost is actually well in excess of $20 million, but for competitive reasons, we’re not going to reveal the exact amount,” Anderson said.

FedEx Freight has been using contractors for its storage needs in Metro Vancouver. It services customers who ship products that are between 150 pounds and 2,000 pounds – loads that Anderson describes as being less than a full truckload.

The centre, located at 10288 Grace Road, is slated to be completed by November and is situated on a 16.4-acre site.

The new warehouse is expected to create about 50 jobs.

gkorstrom@biv.com

@GlenKorstrom

Tags: Surrey, Fedex Corporation, real estate



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