Richmond Industrial Park Grande Prairie Commercial Real Estate
Grande Prairie's largest and primary industrial park. The 68 Avenue and Resources Road corridor concentrates oilfield equipment, fabrication, manufacturing, logistics and heavy services for the Peace Country — northwest Alberta's oil and gas, agricultural and forestry industries.
Richmond Industrial Park Grande Prairie — Market Overview
Richmond Industrial Park is Grande Prairie's largest industrial area, located along the 68 Avenue and Resources Road corridor on the south and southeast side of the city. It is the primary location for oilfield services, fabrication, manufacturing, logistics and heavy industrial operations serving the Peace Country economy.
Grande Prairie's industrial economy is driven by oil and gas production in the Deep Basin and Montney formations, large-scale agriculture across the Peace Country, and active forestry operations. All three sectors require industrial services, equipment and supply concentrated in Richmond Industrial Park — making it the logistics and services hub for a vast northwest Alberta region.
Industrial cap rates of 6.25–7.5% in Richmond reflect the Peace Country's resource-driven economy and the premium yield available over southern Alberta industrial markets. Multi-tenant buildings with diverse tenant rosters trade at the tighter end; single-tenant oilfield buildings on shorter leases trade wider. The City of Grande Prairie mill rate of approximately $19.60 is factored into investor returns.
Richmond Industrial Park Grande Prairie Cap Rates & Market Data (2025)
| Asset Class | Location | Cap Rate | Notes |
|---|---|---|---|
| Heavy Industrial — Single Tenant | Resources Road / 68 Ave | 6.75–7.5% | Oilfield supply, fabrication; resource cycle premium |
| Heavy Industrial — Multi-Tenant | Richmond Industrial | 6.25–7.25% | Diversified tenancy; stronger income stability |
| Light Industrial / Service Bay | 68 Ave / Richmond | 6.75–7.5% | Contractors, trades, agricultural services |
| Industrial Land — Serviced | Richmond Industrial | Land Pricing | Equipment yards, staging; strong demand |
Why Invest in Richmond Industrial Park Grande Prairie
Peace Country industrial hub — no substitutes. Grande Prairie is the only city-scale industrial services hub in a vast northwest Alberta region. Oil and gas, agriculture and forestry operations have no alternative location for the industrial services and supply they require.
Three-sector industrial demand base. Unlike single-industry industrial markets, Richmond Industrial serves oil and gas, agriculture and forestry — three distinct economic sectors with different cyclical patterns. This diversification provides resilience when any single sector faces headwinds.
Yield premium over southern Alberta. Industrial cap rates of 6.25–7.5% represent a meaningful premium over Calgary or Edmonton comparable industrial assets at 5.0–6.0%. Investors comfortable with Peace Country economics are well-compensated for the regional exposure.
Richmond Industrial Park Grande Prairie — Frequently Asked Questions
What industrial property is available in Richmond Industrial Park?
What are industrial cap rates in Richmond Industrial Park?
Who are the typical tenants in Richmond Industrial Park?
How do I buy or lease industrial space in Richmond Industrial Park?
Looking at Richmond Industrial Park?
Our Grande Prairie industrial advisors cover Resources Road, 68 Avenue and all Richmond Industrial — from heavy industrial shops to multi-tenant service bays.
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