Future of Peak Industries Newly Acquired Industrial Land in Cranbrook Looks Bright
Future of Peak Industries Newly Acquired Industrial Land in Cranbrook Looks Bright
Cranbrook, BC (March 3, 2021) – Initial subdivision and development plans through Peak Industries are in the works for the industrial lands off Theatre Road in Cranbrook, which are already showing plenty of potential for investment and business growth opportunities.
Peak Industries purchased the former Tembec industrial lands from the City of Cranbrook in the November 2020.The finger joint plant has been revamped and is now producing finger joint studs for shipment to the US, with 23 full time workers and a second shift of 15 more workers set to begin shortly. The market for these materials is strong and the company can sell as much as they are able to produce.
“I am grateful to now own this great piece of land and intend to put more businesses on it over the next few years,” says Brian Fehr, Chairman of Peak Industries. “Our finger joint mill is already successful, and our four tenants are employing dozens of local people with good jobs. I am really happy to now be a full-time resident of the Cranbrook area.”
“Having only been here for 3 months, we’re really excited about the companies we’ve got on site today and look forward to continuing conversations with some great potential additions,” says Josh Power, Project Manager with Peak Properties. “There’s no doubt that this industrial park has the potential to bring a lot of good jobs to Cranbrook, something we know Brian is really passionate about.”
“I have known Brian Fehr for many years. He is a true entrepreneur, and he wants to see this choice industrial land responsibly developed,” says Bill Bennett, of Peak Industries. “I hope anyone who is interested in prime industrial land will call us. There is still land available.”
Two additional companies are currently leasing space on the site including the Steel River Group, a pipeline company servicing pipelines in the area for FortisBC and Trans Canada and Applied Compression, a local company employing 20 people which manufactures compression fittings that are shipped all over North America, is also leasing space. Both Glen Transport and FB Logging are also leasing space at the site.
“To see the activity taking place on site is exciting, in that we see growing potential for new, good paying jobs for our residents, new tax dollars, new growth and great economic development opportunities for Cranbrook,” says Mayor Lee Pratt. “I want to thank Brian and Peak Renewables for their vision for this important piece of industrial land and look forward to continuing to help them realize their goals.”
Plans are in place to learn what potential users of this industrial land require and then design the subdivision of the property, including lots size and shape, to meet those needs. Several local and out-of-town businesses and investors have already been in early discussions with Peak Industries about locating on the site. Those discussions are continuing.
–30– For more information, please contact:
Darren Brewer, Business Development Officer
City of Cranbrook
Phone: 250-919-9792
[email protected]