Two B.C.-based companies have teamed up to launch a $105-million industrial development in Calgary's South Foothills East Industrial district.

Vancouver's Anthem Properties and Vernon, B.C.-based Arrowleaf Real Estate — a sister company to the nationwide Kal Tire network of repair and auto parts retailer shops— are developing a three-building, 438,300 square foot, class-A industrial project on 20.8 acres. 

The development is the first phase of a larger, master-planned industrial development by Anthem called Glenmore Yards on a 95.6-acre site acquired by the company four years ago.

This initial phase of the project is now under construction. When fully realized, Glenmore Yards will have approximately 1.7 million square feet of class-A warehouses, flex office and industrial space, and ancillary retail.

The first, three-building phase is a project both companies aim to build and hold long-term, said Robert Harrison, COO, with Arrowleaf, in an interview with RENX.  

The first phase will have small- and medium-format showroom and warehouse space across the trio of buildings, with units starting at 7,000 square feet. Buildings 1 and 3 will have small-format bays from 7,400 to 11,000 square feet, designed for businesses requiring showroom space with retail exposure. Building 2 provides medium-format warehouse space with 14,300 square-foot bays.

‘Unmet demand for product like this’

Calgary's industrial vacancy sits at 3.8 per cent. That’s a low rate, Harrison said. "That tells me there's more demand than supply and there is a good amount of unmet demand for product like this."

"I've always liked Calgary and right now, from a market fundamentals perspective, there's really a lack of new small and mid space," Harrison said. "We're really comfortable with bringing this online. From that perspective, we also think Calgary has some solid growth in front of it."

He said the first three buildings will be constructed at the same time. 

Sean Day, vice-president of industrial with Anthem, told RENX in an email that Glenmore Yards Phase 1 offers highly flexible industrial space. "It's designed to accommodate a wide range of uses, from warehousing and distribution to light manufacturing, with optional office and showroom components."

He said it will be especially attractive for industrial users with front‑of‑house display and back‑of‑house storage.

Anthem and Arrowleaf

This is one of the largest industrial land parcels in southeast Calgary, located at the intersection of Glenmore Trail and Barlow Trail. The project will add to Anthem’s 1.8 million square feet of Western Canadian industrial portfolio and Arrowleaf’s 1.3 million square foot industrial portfolio.

"Anthem brings a lot to the table for a partnership like ours," Harrison said. "They've got great experience in bringing projects like this online... in terms of development, construction, leasing, everything. Especially in the industrial space."

Anthem regularly partners on development and income‑producing assets to diversify capital, reduce risk and expand across markets, Day added.

"Our longstanding relationships and proven performance allow us to invest repeatedly with trusted partners. Anthem and Arrowleaf share investment goals, entrepreneurial culture, and western Canadian roots, making this a natural and, more importantly, valued repeat partnership."

Pre-leasing has begun and completion is anticipated in mid-2027.

Arrowleaf is a real estate investment firm managing over 2.1 million square feet of multifamily, industrial, retail and office properties throughout Canada. Its roots date to 1953. It's the real estate investment arm of the family-owned company that includes Kal Tire and BigSteelBox. 

Arrowleaf working on transformative project in Vernon, B.C.

Meanwhile, closer to home, Arrowleaf has proposed to develop a 19-acre mixed use site that would transform a section of Vernon. It has submitted an Official Community Plan (OCP) amendment and rezoning application for Via District, a master-planned community that would include residential, commercial, hospitality and community uses.

The property is located off Kalamalka Road and is the current home of Kal Tire's head office and BNA Brewing, which will both remain in place within the development. 

Harrison said Arrowleaf expects a long-term build-out. "It will definitely have multifamily," he said. "We expect a mix of for rent and for sale, different unit sizes from studios potentially up to three-plus bedroom townhomes."

Via District will also have retail spaces. "We may do more office, depending on market demands... (and) there could be a hotel at some point,” Harrison said.

He said Vernon is a fast-growing community that feels similar in its evolution as Kelowna did 20 years ago. 

The plan aims to build the North Okanagan’s first highrise residential buildings.

"We're still in early stages for that," Harrison told RENX. "The place we're at right now is going in for the initial master plan approval for the zoning and OCP amendment."

He said once that's underway they'll focus on the main components of the first phase and the types of uses to build. "This is, of course, a huge project."