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An Industrial/Commercial Redevelopment

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There is an investment opportunity to capture value in the small industrial bay market, and urban growth. This highest and best use redevelopment of the former Hub Oil site will add to the revitalization of International Avenue and the expanding Chestermere corridor.

This is a mixed use project of 73,800sf on 4.08 acres, which will include:
  • 6 industrial bays of 3,000sf with a retail front, office mezzanine, warehouse, and cargo bay door;
  • 25,600sf of office space in two structures; and,
  • 11,200sf of retail space directly adjacent to a major thoroughfare; and,
  • 19,000sf business incubator (a mix of office and technical space). The project may contain a specific cleantech business incubator.

Location

The land is located at 5805 17 Avenue Southeast, Calgary, Alberta, Canada. Seventeenth Avenue Southeast has been remained International Avenue and  offers several beneficial features:
  • Great Visibility—approximately  29,000 cars pass by each day, projected to growth 39,000 in five years;
  • Impressive Views—Located on a high plateau, the site offers views of the Rocky Mountains and downtown Calgary, especially from the second story offices.
  • Local Amenities—Directly adjacent to the beautiful Ellison Park and within close proximity to the many restaurants and services along International Avenue;
  • Transportation Hub—Quick access to Stoney Trail, 52 Street Corridor, Memorial Drive, Highway 1A and, the City of Chestermere;
  • Alberta Advantage—Fastest growing economy in Canada.

Growth Trends

For long-term investors, there is significant appreciation in value combined with stable cash flow. Factors which are driving land value appreciation include:
  • Economic Growth in Alberta — CIBC World Markets projects that driven by strong commodity prices Alberta will experience 4.2% GDP growth in 2011, the highest in Canada;
  • Calgary’s Ring Road — the completion of the NE section of Stoney Trail to International Avenue 1.2km east of the site and the completion of the SW section in 2021;
  • Urban Renewal — the revitalization plan for the International Avenue Design Concept, which seeks densification west of the site and significant traffic upgrades;
  • East Hills Town Centre — Trinity RioCan has developed 880,000sf of top quality retail space just east of Stoney Trail; and,
  • Suburban Growth — Annexation by the City of Calgary of 1 square mile of land from Rockyview County, currently committed to land developers.