Campbell Heights Pipeline Through 2027 — Class A Supply, Spec and Strata
Campbell Heights is Metro Vancouver's benchmark for master-planned Class A industrial. The pipeline runs through 2027, but the greenfield behind it is finite.
May 30, 2026 · 2 min read · By Samuel Brahem, in association with NAI Commercial
The park
Campbell Heights sits in South Surrey between 24th and 32nd Avenues and 184th and 196th Streets, split into North and South sub-areas. Unlike submarkets that grew in layers, it was planned, serviced and built to one Class A standard with no legacy stock mixed in. That consistency supports premium rents and stronger exit cap rates for landlords, and costs tenants a $1 to $3 per sq. ft. premium over Port Kells, Newton or Cloverdale.
What is being delivered
- Multiple Class A buildings under construction or in advanced planning, delivering between Q3 2026 and Q2 2027
- Footprints from 30,000 sq. ft. to 400,000+ sq. ft.
- Strata product continuing in the 5,000 to 25,000 sq. ft. owner-user range
- Developers: Canadian industrial REITs, US capital partners and Vancouver-based private builders
- Spec buildings have generally pre-leased before completion
- Remaining greenfield inside the park boundary is finite; the pipeline is what is already zoned and serviced
The 2027 pipeline is real. What comes after it depends on land that is not yet approved.
The modern spec
Current Class A product delivers 32- to 40-foot clear, ESFR sprinklers, 50-by-50-foot or wider column spacing, one dock per 7,000 to 10,000 sq. ft., truck courts of 130 to 185 feet, high-capacity electrical for material handling and EV charging, and flat floors for AS/RS and very-narrow-aisle racking. Office build-out typically runs 5% to 15%.
Economics and who is taking it
Class A distribution leases around and above the Surrey average of about $18.66 per sq. ft. net asking (Q2 2026), with operating costs of $5.50 to $6.60 and total occupancy cost of roughly $24 to $26. Against Richmond Class A at $20.26, Surrey sits about $1.50 lower, the trade-off being drive time to the core and the port.
The tenant base is institutional: 3PL and contract logistics, e-commerce fulfilment, manufacturing, building materials and brand-conscious occupiers. Retention is high, so turnover is thin. Tenants should engage early; owner-users looking at strata should compare total economics against Newton, Cloverdale and Langley before buying.
