Buying Commercial Space a Dream Come True for Beauty Depot

Vanessa de Mello and Silvia D’Costa have just hit a big business milestone: they’ve purchased a brand new, 12,000 square foot building in Calgary to house the expansion of Beauty Depot and The Esthetic Institute Training Center.

At Fairmount Drive and Glenmore Trail in Calgary's burgeoning South Central neighbourhood, the new gleaming Hungerford Properties building in Fairmore Business Park is their dream come true. After 16 years in business, their new location is only two blocks south of their current location and still close to Chinook Centre, allowing for a much simpler transition to the new space.

“We were blown away by the exteriors,” says de Mello. “We are in the esthetic business and our clients are 98% female, so we wanted it to look nice with glass windows. We also thought the pricing was competitive and the location at Fairmore Business Park was perfect.”

With 20 - 30% business growth each year, de Mello knew the timing was right to buy their own building, allowing them to grow and expand further. “The service from Hungerford and our realtor was exceptional and the whole process has been easy. We’ve been very impressed with the quality of workmanship and we would recommend Hungerford as a builder and developer.”

There are only 3 warehouse bays remaining at Fairmore Business Park. Construction is now complete and move in ready. 

Hungerford Properties, a Vancouver-based development and management company, has just launched its third major commercial project in Calgary. With a 35-year track record of success in investing and building residential, office, retail and industrial properties, Hungerford has several projects on the go with more to be announced in the near future.

“We strongly believe in the business opportunity that is supported by the people and businesses in Alberta. We have a tremendous amount of confidence in the future economy,” says Michael Hungerford, partner, Hungerford Properties. “We are very excited and optimistic about the future.” 

Calgary has many similarities to Vancouver in terms of population and employment growth – making it a strong real estate market – although it is more heavily weighted towards the resource sector. 

“We are looking to invest in a wide variety of asset classes including office, retail, residential and industrial,” explains Hungerford. “The key thread and commonality between our investments is that there is a lot of creativity and value-added elements. What that means is we are bringing in capital to either reposition or revitalize existing assets or develop from scratch.”

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CALGARY - A Vancouver developer is pouncing on a growing trend  in Calgary of owners wanting to own the locations where they do business.

On Wednesday, Hungerford Properties launched its latest business condo project - the Nexus Business Centre in the Meridian/Franklin area of northeast Calgary.

“As a business owner, and being one myself, I’d rather be paying myself rent than somebody else and I can build equity in my business. I have greater control over expansion and contraction. I control my own destiny. What I invest in the space I’m creating value for myself. I’m not creating value for somebody else. I think ultimately that’s control and investment and just general pride of ownership,” said Michael Hungerford, partner with the Vancouver company, who was also in Calgary this week for an open house for the new Icon Business Park project at the former Haworth building which the company bought last year.

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Hungerford Properties follows a core set of values as it develops and manages properties in numerous markets throughout Western Canada.

Hungerford Properties is poised to take advantage of the changing market conditions and emerging investment opportunities. Hungerford Properties and its investors were well positioned entering the global recession as they did not acquire properties at the cyclical high and have a strong balance sheet ready to take advantage of the emerging acquisition opportunities.

Hungerford Properties recently has completed the successful and award-winning 345-unit residential project in Greater Vancouver called MacPherson Walk, which has turned a lot of heads. Hungerford Properties is growing quickly and is aiming to become a regional player over the next decade. It is in the process of raising a new real estate private equity fund which aims to take advantage of emerging real estate investment opportunities. 

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