Campbell Heights Overview
Campbell Heights is a master-planned industrial business park in South Surrey, bounded roughly by 24th Avenue to the north, 32nd Avenue to the south, 184th Street to the west, and 196th Street to the east. The park is divided into North Campbell Heights and South Campbell Heights, with each sub-area maintaining distinct character and tenant mix. What separates Campbell Heights from other Surrey industrial submarkets is the master-planned environment: consistent building specifications, planned roadway and utility infrastructure, a curated tenant mix, and the kind of brand image that institutional landlords specifically target. The submarket has become the default Class A industrial environment for South Surrey and a comparable benchmark for modern industrial product across Metro Vancouver.
Why Master-Planned Matters
Most Metro Vancouver industrial submarkets evolved through layered development cycles, mixing legacy and modern product within close proximity. Campbell Heights is different. The park was planned, infrastructure-staged, and built out with consistent specifications. The result is a Class A standard environment without the legacy product mixed in. For tenants, this means consistent building quality, predictable operational characteristics, and the brand benefits of a curated business park address. For landlords and investors, the master-planned environment supports premium lease pricing and stronger exit cap rates relative to mixed-quality submarkets. The trade-off is meaningful — Campbell Heights commands premiums to nearby Port Kells, Newton, or Cloverdale, and tenants weighing pure economics often find better value elsewhere.
The 2026-2027 Development Pipeline
Campbell Heights' development activity remains active through 2027. Multiple Class A industrial buildings are under construction or in advanced planning, with delivery dates clustered between Q3 2026 and Q2 2027. Specifications are consistent with the modern Class A standard: 32 to 40 foot clear heights, ESFR sprinklers, generous loading ratios, modern column spacing, and configurations supporting tenants from 30,000 SF to 400,000+ SF. Strata industrial development continues in the small-to-mid bay range, supporting owner-occupier acquisitions of 5,000 to 25,000 SF units. The remaining greenfield within park boundaries is finite — most active development sits on previously-purchased land parcels, and the pipeline is shaped by what's already been zoned and serviced rather than by new master plan additions.
Key Developers Active in the Park
Campbell Heights has attracted concentrated capital from institutional industrial developers and select private developers. The active developer set includes major Canadian industrial REITs, US-based industrial capital partners, and Vancouver-anchored private developers with track records in the submarket. The development thesis is consistent: modern Class A industrial in master-planned South Surrey serving the broader Metro Vancouver and US-bound distribution flows. The pre-leasing dynamics over the past several years have generally favored developers — speculative buildings have absorbed quickly, often pre-leasing before completion. Tenant flexibility on specifications has supported strong pre-commitment rates.
Modern Class A Building Specifications
The Campbell Heights standard has evolved over the past five years as institutional capital has set higher specification benchmarks. Current modern Class A product typically delivers: 32 to 40 foot clear heights, ESFR sprinklers, 50 by 50 foot or wider column spacing for material handling flexibility, dock-high loading at ratios of 1 dock per 7,000 to 10,000 SF, 130 to 185 foot truck court depths, high-capacity electrical service supporting material handling and EV charging, and flat-floor specifications supporting AS/RS and very narrow aisle racking. Office build-outs typically range from 5% to 15% depending on tenant requirements, with higher office ratios available for headquarters or operations-heavy tenants.
Lease Economics in 2026
Modern Class A distribution leases in Campbell Heights currently trade $16 to $20 PSF net, with newer Class A buildings at the upper end. Operating costs run $5 to $8 PSF. The total occupancy cost ranges from $21 to $28 PSF for Class A product. Compared to comparable Surrey submarkets, Campbell Heights commands a $1 to $3 PSF premium reflecting the master-planned environment, building quality consistency, and tenant mix. Compared to Richmond Class A distribution, Campbell Heights typically trades $2 to $5 PSF below comparable product — the trade-off being incremental transportation time to the Vancouver core and Port of Vancouver.
Tenant Profile in Campbell Heights
The Campbell Heights tenant base mirrors the master-planned thesis: institutional-grade occupiers, 3PL and contract logistics operators serving Metro Vancouver and US-bound distribution, e-commerce fulfillment, manufacturing and assembly, building materials and equipment distribution, and brand-conscious occupiers who prioritize the curated business park environment. The tenant mix is materially more institutional than nearby Port Kells or Newton. Tenant retention through lease renewals has been strong, which contributes to the limited turnover and the structurally constrained leasing inventory for new entrants.
Strata Industrial in Campbell Heights
Strata industrial development in Campbell Heights has supported owner-user acquisitions of small and mid-bay units. Strata pricing has appreciated meaningfully through the cycle, supported by both end-user demand from operating businesses and the broader industrial strata investment thesis. Modern Campbell Heights strata typically trades at price points that justify the buy decision for stable owner-users with 10+ year occupancy horizons. The strata inventory is genuinely active — turnover continues, new development extends the strata supply, and resale liquidity has remained consistent. Owner-users evaluating Campbell Heights strata should compare against equivalent strata in Newton, Cloverdale, and Langley to find the right total economics for their business.
Outlook Through 2027
The Campbell Heights outlook through 2027 remains positive but increasingly constrained on the supply side. Remaining greenfield within park boundaries is finite. Active development pipeline will deliver new modern Class A inventory through 2026-2027 but the volume of additional pipeline beyond that point depends on remaining unbuilt parcels and whether master plan expansions get approved. Tenant demand continues to absorb new inventory at a pace consistent with the past several years. Lease economics likely continue tracking with broader Surrey industrial trends, with Campbell Heights maintaining its premium positioning. For owners, this supports continued value defense and strong exit economics. For tenants, this means continued limited optionality and the importance of early engagement on requirements.
