Archives from May 2015

The business world in Sherwood Park will soon be stepping it up a notch.

Part of the executive team and partner of Hungerford Properties, Michael Hungerford said the company is planning a new commercial area in the northwest portion of the Park.

The Paragon Business Park will be building on 11 acres on the inside corner of Broadview Road, Bethel Drive and Bethel Way.

“In the first phase, we’re building an office building and a warehouse building,” Hungerford said.

“There’s future phases, but it’s going to be a large business park to accommodate different types of commercial uses. We’re anticipating that there will be some retail on the ground level. We’re building a nice courtyard amenity area. There will be some offices above and some warehouse — smaller bay warehouse units — as part of the park. We’re also interested in working with businesses — we’ve got some extra land as well for future phases, and we’ll be looking to develop that land with businesses that might want to have their own standalone sites.”

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Sherwood Park, May 19, 2015 - Hungerford Properties is launching an innovative, new commercial condo project in Strathcona County this week, a development that will transform 11 acres in Sherwood Park into a bustling business park for small and medium businesses that want to invest and build equity. The first phase of the development will be about 121,000 SF of office and warehouse space.

Paragon Business Park is a unique ownership opportunity for businesses seeking Class A condos in Sherwood Park, next to the new transit hub and bordering the major arterial retail area with its shops, restaurants and amenities.

“This project will redefine the neighborhood,” says Karnie Vertz, principal at Avison Young. “There isn’t a campus style development that can accommodate multiple uses and is built and designed to this high quality. The other product on the market in this area is older and doesn’t offer the same integrated options.”

The Paragon concept is based on the need for local ownership opportunities in Sherwood Park, a mixed-used campus style development that is well situated with great road access to the entire Capital region, especially to Alberta’s industrial heartland, one of the province’s primary economic drivers.

“This is a master-planned business park and this is just the first phase,” said partner Michael Hungerford. “Future phases will continue to attract Edmonton companies that want to invest in their own space, allowing them to build equity over time and have greater control over expansion and growth – all in an enviable location in Sherwood Park that benefits from high visibility and year-round traffic.”

Paragon also offers a unique opportunity for business owners currently living in the area to locate their businesses close to home. Rather than commuting into the city, business owners can live close to their office.

“We welcome Hungerford Properties and the Paragon Business Park to the heart of our community, “says Strathcona County Mayor Roxanne Carr. “The proposed development is ideal for this location being close to our transit centre and providing a great mix of opportunities for businesses of all sizes. We look forward to seeing the development come to life and enhance the business district.”

Hungerford Properties has a solid and successful track record of building commercial condos in other parts of Alberta. The company has three successful commercial condo developments in Calgary – Nexus, Northwing and Fairmore, all commercial business parks offering brand new, high-quality office and warehouse space. Nexus and Northwing have been the top selling commercial condo projects in Calgary for the past two years. What sets their projects apart is the upscale urban design and quality construction in good locations.

To learn more about Paragon Business Park, please visit the Paragon website.

A new business park in southeast Calgary has secured a major national tenant for the project, which broke ground this week.

Canem, one of Canada’s largest electrical contracting firms, will lease 25,000 square feet in the Fairmore Business Park, a seven-acre development located at Macleod Trail and Glenmore Trail near Chinook Centre.

The business park, being developed by Vancouver-based Hungerford Properties, offers tenants an opportunity to either lease or buy space in the project.

“It’s been a long process to find the right property and get the ball rolling,” said Andy Carr, regional vice-president of Southern Alberta for Canem Systems, in a news release. “We’re excited for this to start a new chapter in our 50-year company history.”

He said the new office will almost double its current space, which is located just across the street from the new business park.

Hungerford said the Fairmore Business Park is the only new office and warehouse condo project in south central Calgary and one of the few opportunities to buy new commercial space in the inner city.

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