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Major Land Sale in New Kamloops Light Industrial Park Signals Strong Momentum

  • Writer: Mike O'Reilly
    Mike O'Reilly
  • 2 days ago
  • 3 min read

Kamloops, B.C.: Comet Industries Ltd. (“Comet Industries”) is pleased to announce that momentum continues to build for property at Iron Mask Industrial Park (“IMIP”) following the successful sale of a 24.36-acre parcel, representing approximately 22 acres of usable industrial land in a transaction valued at $22 million.


The investment highlights the demand for premium industrial land in the region and is another milestone in the ongoing development of the industrial park, which is emerging as a key hub for business growth in the Kamloops area.


“This sale is a strong signal of confidence in both IMIP and the Kamloops market,” said Mike O’Reilly, President and CEO of Comet Industries. “This sale reinforces to our team that we have created an opportunity for light industrial land that not only is fulfilling a demand but is also helping to support businesses looking to grow in Kamloops.”

Located in a strategic corridor with strong transportation access, IMIP is a 190-acre light industrial development designed to support a range of light industrial and commercial users while helping to strengthen the region’s economic base.


According to Blake Gozda, Senior Vice President Canada with Cushman & Wakefield, one of the commercial brokers on the sales team for IMIP, the transaction represents more than just a land sale.


“This is a major step forward for the development,” shared Gozda. “Our office has seen the interest in Iron Mask Industrial Park continue to grow as companies recognize the value of large, serviced industrial land in a well-connected location. Deals like this 24.36-acre parcel demonstrate the confidence the market has in the long-term vision of the industrial park and the Kamloops area.”

With the sale completed, development activity at IMIP is expected to accelerate as additional parcels move toward market and other businesses look to establish operations in the area.


“We look forward to advancing to the next stages of the Iron Mask Industrial Park,” said Gozda. “We invite those who are interested in learning more to visit www.ironmaskindustrialpark.ca and register to receive updates on the project or reach out to our sales team.”




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. 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: www.cometindustries.ca

Follow Iron Mask Industrial Park on Linked In.


For further information please contact:

Michael O’Reilly, President and CEO

Tel: +1 (250) 819-3165


Forward-Looking Statements

This news release contains statements that constitute "forward-looking statements". Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Comet Industries’ actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. Forward-looking statements in this news release include statements concerning the demand for premium industrial land in the Kamloops area, the expectation that development activity at IMIP will accelerate, that additional land parcels will move toward market, that businesses will look to establish operations in the Kamloops area and all other statements that are not historical in nature.

Although Comet Industries believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, forward-looking statements by their nature involve assumptions, known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.


THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF COMET INDUSTRIES AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE COMET INDUSTRIES MAY ELECT TO, NEITHER OF THEM UNDERTAKES TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.


Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

 
 
 

Contact

CometIndustries_Logo-Colour-H.png

Corporate Office:
900-235 1st Avenue
Kamloops, British Columbia
Canada, V2C 3J4​​

​

Contact: Mike O’Reilly
mike@cometindustries.ca

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