Comet Industries Ltd. (TSXV: CMU) announced on October 23, 2026 that Lot 1, a 10-acre parcel at its Iron Mask Industrial Park in Kamloops, British Columbia, is now under contract in a proposed transaction valued at approximately $10.3 million. The announcement builds on prior sales activity at the 190-acre light industrial development, including a previously announced $22-million sale of a 24.36-acre parcel and the earlier sale of a 1.25-acre parcel. Investors may be watching how ongoing land sales progress as Phase 1 of the park is described as approximately 60% sold out.

Key Points

  • Comet Industries Ltd. (TSXV: CMU) is a Kamloops-focused real estate developer listed on the TSX Venture Exchange.
  • Lot 1, a 10-acre parcel at Iron Mask Industrial Park, is now under contract in a proposed $10.3-million transaction.
  • Phase 1 of the 190-acre development is approximately 60% sold out, with additional parcels still available.
  • Investors may be watching whether remaining parcels attract buyers and how Phase 1 selldown progresses.

Iron Mask Industrial Park's Growing Sales Record in Kamloops

The proposed $10.3-million contract for Lot 1 represents the latest in a series of transactions at Iron Mask Industrial Park. Combined with the previously announced $22-million sale of a 24.36-acre parcel and the sale of a 1.25-acre parcel, the development's sales activity reflects what the company describes as growing business interest in the Kamloops region. The release states that Phase 1 is approximately 60% sold out, with additional parcels remaining available, including options for businesses to combine lots and accommodate larger industrial operations.

Strategic Location and Infrastructure Driving Business Interest

Iron Mask Industrial Park is situated within Kamloops' city limits and offers direct access to the Trans-Canada Highway and the Coquihalla Highway, connecting tenants to broader British Columbia transportation networks. The disclosure states that serviced lots include water, sewer, hydro, and natural gas at lot lines, spacious road networks designed for commercial trucking, and flexible parcel configurations. The park also provides convenient access to Kamloops Airport and both CN and CP rail yards, positioning it as a multi-modal industrial destination for businesses seeking room to establish or expand operations.

Cushman & Wakefield Cites Flexibility as a Key Attraction for Industrial Tenants

Blake Gozda, Senior Vice President, Industrial with Cushman & Wakefield, is quoted in the release noting that the ability to find industrial space accommodating both current needs and future growth has made the park particularly attractive to prospective tenants his team has engaged. The release characterises the combination of serviced land, transportation access, and flexible lot sizing as a compelling opportunity for companies considering expansion in the Kamloops region. Comet Industries was established in 1972 and also holds real estate on Nelson Island, British Columbia.