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Kamloops’ Newest Light Industrial Park Hosts Ceremonial Ground Turning Event

Kamloops, B.C. – Comet Industries Ltd. (Comet), held a ground-turning event in Kamloops on May 29, 2024, marking a milestone to add significant new light industrial land to local supply in Kamloops. The event, which was held on-site of the 190-acre parcel of land zoned for light industrial, was attended by local business leaders, the board of directors of Comet, and the media and emphasized the project’s importance to the local economy.

 

The journey to establish the Iron Mask Industrial Park has been a long and complex process, involving a piece of land with a rich and significant history. Emphasizing the deep understanding of community needs, President and CEO of Comet, Mike O’Reilly said, "Over the past decade, we've closely listened to the feedback from our community. It's become increasingly clear that there's a significant demand from business owners in Kamloops to expand and for new businesses wanting to put down roots in Kamloops. What we are initiating today with this groundbreaking is in response to this—a meticulously planned project to meet these diverse light industrial needs."

 



Row 1 (left): Ground Turning Ceremony [L to R] Comet Board Directors; Andrew Rennison, Michael Santoro, Jess Alfonso; Comet Industries President + CEO Mike O'Reilly; Deputy Mayor Kelly Hall; MLA Peter Milobar; Row 1 (right): Blake Gozda, Cushman & Wakefield and Brendan Shaw, BSRE; Row 2 (left): Ground Turning Ceremony Introduction by Mike O'Reilly Comet Industries President and CEO; Row 2 (right): Michael Santoro, Comet Board Director; Mike O'Reilly - Comet President + CEO; Andrew Rennison, Comet Board Director; Jess Alfonso, Comet Board Director. Photo credit: Katelyn Faulkner Photography.


During the event, O’Reilly shared that Brendan Shaw, Managing Broker with Brendan Shaw Real Estate and Blake Gozda, Vice President Industrial, with Cushman & Wakefield, have joined the project as the real estate sales team. Together, they bring years of commercial sales and leasing experience in light industrial and look forward to helping businesses expand to the Iron Mask Industrial Park.

 

“For many years in Kamloops, there has been a huge demand for light industrial land and space that is built to suit, with exceptional access to major transportation corridors. It is exciting to see this new light industrial park built in Kamloops, marking a significant step forward for further strengthening our economy, providing the space for businesses to grow,” said Gozda.

 

Echoing Gozda’s sentiments, Shaw noted that the demand for light industrial space in Kamloops will be a catalyst for the local economy.

  

“With Iron Mask Industrial Park, we will not just see immediate job creation as a result of the development and construction phases, but the project will contribute to the longer-term economic health of Kamloops and surrounding areas. Our goal is to provide the space or create built-to-suit opportunities that support existing businesses in their expansion efforts and welcomes new enterprises to our community,” said Shaw.

 

Along with the ground-turning ceremony, a survey to gather input from future tenants and stakeholders was also launched. The feedback obtained will help the team fine-tune the development to meet the precise needs of the businesses the industrial park aims to attract, thereby maximizing its positive impact on the regional economy.

 

To access the survey, visit www.ironmaskindustrialpark.ca.

 


About Comet Industries Ltd.                                                                                    

Comet Industries Ltd. was established in 1972, incorporated in the Province of British Columbia, and is listed on the TSX Venture Exchange. The Company is in the business of holding and developing real estate properties, all in British Columbia (“BC”). The Company owns unimproved land in Kamloops, and Nelson Island on a freehold basis. A major initiative by the company is the Iron Mask Industrial Park project. Visit: https://www.cometindustries.ca/ 

 

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE

 

This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statement of historical facts, that address events or developments that management of the Company expects, are forward-looking statements, including the reference to proposed development of the Iron Mask Industrial Park. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward looking statements, include market prices, regulatory approvals, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.

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