Hungerford’s Icon Business Park Expands, Offering Bright Spot for Commercial Real Estate in Calgary

Hungerford Properties has expanded its Icon Business Park with the acquisition of 5 acres of additional land on the corner of 52nd Street and 61st Avenue SE. Icon, a 759,000 SF facility, is one of the city’s largest buildings. Hungerford’s latest announcement of an expansion, as well as several new leasing deals within the building, showcases strong momentum and a bright spot for the city’s commercial real estate market.

Hungerford – which has transformed Icon into a multi-tenanted business hub over the past three years – will be leasing 68,000 SF of warehouse to Robert Thibert Inc, Canada’s leader in the distribution of vehicle accessories. They were attracted to Icon for its accessibility and distribution facilities.

Data Communications Management, Alberta’s largest graphics communications company, is already on site leasing 112,000 SF. They just announced they are expanding at Icon, taking an additional 48,000 SF adjacent to their existing space for additional warehousing. “Icon has been such a great space for our growth that we are excited to be expanding,” says DATA General Manager, Ken Mateshaytis. “It’s exactly what we need to continue improving the way we do business.”

Chep, a global leader in equipment pooling for pallets, is also expanding their presence on site with an office expansion and an additional one acre of yard space.

With these deals, Icon Business Park is now 80% leased. “This is a strong indicator of the quality of real estate and the agility Icon can offer tenants of all different sizes,” says Paul Marsden, VP at Colliers International. “While the industrial real estate market continues to feel the impact of the energy sector, Icon Business Park stands out as an anomaly and continues to find creative ways to meets tenants’ demands.”

Current tenants include ABB, a world leader in power and automation technology, Rolf C. Hagen Inc, a leading worldwide distributor of pet supplies, Data Communications Management, Robert Thibert, Inc. and Chep.

Dubbed “southeast Calgary’s most intelligent workspace,” Icon offers an unprecedented opportunity to lease warehouse and office space. The building’s strategic location takes advantage of Calgary’s growing reputation as a logistics hub for Western Canada and will appeal to manufacturing and logistics enterprises and suburban office tenants.

Remaining available space at Icon ranges from 19,000 to 54,000 SF of warehouse and 23,000 SF of office/restaurant available now. Build to suit retail, restaurant and gas station opportunities will be available for 2018 at Icon Retail Centre, the newly acquired 5-acre land parcel adjacent to Icon.

 For more details, please visit the Icon Business Park website.

Hungerford Properties is expanding at Icon Business Park with the acquisition of 5 acres of additional land. Icon, a 761,000-square-foot facility on 45 acres of land, was already one of Calgary’s largest buildings and the former home to the city’s largest manufacturing plant. This week’s announcement of an expansion is a much-needed showcase of confidence in the city’s commercial real estate market.

Hungerford – which has transformed the former manufacturing plant into a multi-tenanted business hub in the city’s southeast over the past two years – is now offering build to suit opportunities with new development on the additional site.

Paul Marsden, VP at Colliers says: “While the industrial real estate market continues to feel the impact of the energy sector, Icon Business Park stands out as an anomaly and continues to find creative ways to meets tenants' demands.” 

With this new expansion, both existing and new Icon tenants will benefit from the improved accessibility, with additional driveways on the site, allowing trucks in and out from 61st Street.  Current tenants include ABB, Rolf C. Hagen Inc and The Data Group.

Dubbed “southeast Calgary’s most intelligent workspace,” ICON offers an unprecedented opportunity to lease warehouse and office space. The building’s strategic location takes advantage of Calgary’s growing reputation as a logistics hub for Western Canada and will appeal to manufacturing and logistics enterprises and suburban office tenants.

Icon Business Park Adds Another Major Tenant

The economy may be taking its toll on Calgary’s commercial real estate industry but the Icon Business Park in the southeast part of the city is enjoying some success recently in leasing activity.

Hungerford Properties has secured its third anchor tenant for the facility and the office component of the building is now 68 per cent leased. It is leasing about 71,000 square feet of office and warehouse space to ABB, a global company in the utilities, oil and gas and mining sectors for over 100 years.

Michael Hungerford, of Hungerford Properties, said the value the company is able to offer tenants in a value-conscious market has been important.

“The building has so many great attributes and was so well-constructed and we’ve continued in that vein. We’ve undergone a major refurbishment of the building and we’ve successfully re-positioned it,” said Hungerford of the building that was formerly the Haworth facility.

He said the deal brings the property to more than 50 per cent leased for both office and warehouse space on a long-term basis.

“I am hopeful that you will get an update from us in a few weeks with another major announcement,” he said. “Basically the plan is coming together nicely and we’re very pleased and thankful for the support we’ve had from the city and the tenants are very happy with us. We’re delighted to keep plugging away in what’s a difficult leasing market but we’re optimistic and expect this to continue with the building to fully lease up.”

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Click here for the Icon Business Park website.

Hungerford Properties showed its confidence in Calgary's economy when the company expanded its local real estate holdings with the November 2013 purchase of the Haworth building on 52nd Street S.E.

Built by Calgary visionary Mogens Smed in 1999, the 761,000 square-foot building on 18 hectares of land was the largest manufacturing facility west of Ontario at the time. Described as an "iconic" asset to Calgary, it has since been renamed Icon Business Park. The plan was to transform the building from a single to a multitenant facility and although Haworth still has a presence in the building, its first new tenant was Hagen - a worldwide distributor of pet supplies that leased 195,000 square feet.

Click here to read the full article.

CALGARY - The massive Icon Business Park, formerly the Haworth building, has secured its second anchor tenant and is now 50 per cent leased.

Hungerford Properties, owner of the 761,000-square-foot building on 18 hectares in the southeast Foothills industrial area, has announced that The Data Group will be leasing 115,000 square feet of office and warehouse space in the facility, which has been under redevelopment for the past year.

Last spring, Hungerford announced Rolf C. Hagen Inc, a leading worldwide distributor of pet supplies, would be its first anchor tenant.

“We saw the opportunity and putting a lot of capital into the vision and communicating that to the market and now delivering on the vision with all the improvements we’re making,” said Michael Hungerford, a partner with Hungerford Properties. “We’re delighted that some significant businesses are making Icon their new home.

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