The sale of Saputo’s 19-acre Burnaby plant to Peterson Group has completed for $209,000,000. The site at 6800 Lougheed Highway had been listed by Cushman & Wakefield in early 2017. 

Saputo will relocate their operations to a new processing plant on a 20 acre site on Kingsway Avenue in Port Coquitlam, which is expected to be completed within the next three years. In the interim, their sale deal with Peterson envisions a lease back until their new plant is ready in 2021.

Redevelopment plans for the Lougheed site have yet to be revealed; however, previous planning efforts for the Bainbridge area anticipated a higher density mixed use development given the site’s location adjacent a Skytrain station.