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.

Click here to read the full article.

February 11, 2015 – With record low interest rates and continued high leasing rates for industrial spaces, an increasing number of Calgary businesses are moving towards buying their own office and warehouse space as an investment into their future. In Calgary’s Meridian/Franklin area, the Nexus Business Centre is attracting a plethora of local businesses seeking new, modern, class-A commercial space in a well-located area. The development is already over half sold since launching last year and will be complete this spring.

Jason Martin, VP of Impact Sales and Marketing, just purchased 2,900 square feet of office space. The 30-year-old consumer packaging goods company is moving into Nexus from space right around the corner in order to be an owner, not a tenant. “It’s exciting because it’s ours,” says Mr. Martin. “That’s always a good feeling. And everything will be new.”

Mr. Martin says he has been looking to purchase office space for many years, but the Calgary market has a limited supply of suitable opportunities. With Nexus, he was attracted to the quality construction, the fact that it’s brand new, offers an elevator, a chance to custom build the interiors, all in an accessible location.

“This is an established commercial hub, but the existing buildings are older and not up to today’s standards,” says Michael Hungerford, whose company, Hungerford Properties, is developing the property. “So we’re bringing in new, high-quality product and seeing a lot of interest.”

For Sean Senos, CEO of True Directional Services, a company that offers directional drilling technology servicing the oil and gas industry, buying at Nexus was the only option that made economic sense. After 5 years of renting, his company bought more than 4,100 square feet for a warehouse bay and office. “With such low vacancy rates in Calgary’s market, rent is expensive,” says Mr. Senos. “Owning for my company means we have more capital to invest in tools and growing the business, rather than throwing money away in rent.”

Even with the downturn in oil and gas, Mr. Senos says rent prices won’t fall along with commodity prices. “It costs us 25% more to rent rather than own. And with owning, we’re in control of the destiny of the business and build equity.”

Mr. Senos was attracted to Nexus because of the location and its proximity to downtown and by the quality of the building. Most of the supply on the market is old, he says, with compromised roofs, insulation or structures. “This was the highest quality building we looked at and the price per square foot was the same.”

With a total of 98,725 square feet of office and warehouse space, Nexus Business Centre offers a large range of sizes. For office users, available space ranges in size between 2,563 – 14,840 square feet. Office space includes 9’ clear ceiling heights, individually controlled heating and cooling per unit and full curtain wall glazing. Warehouse space ranges in size from 3,563 to 7,694 square feet and includes features such as 24’ clear ceiling heights, ability to build-out mezzanine and grade loading with 12’x14’ insulated metal overhead doors.

“This is Calgary’s top selling new industrial condo project because it offers something that is rare in the city - high-quality, affordable and well-located modern office and warehouse condos,” says Collier’s Michael Massing.

For a detailed chart breaking down the financials of owning versus leasing using the Nexus model, please click here:

Vancouver-based Hungerford Properties is launching its third commercial condo project in Calgary.

Michael Hungerford, partner in the company, said Fairmore Business Park is the only new office and warehouse condo project in south central Calgary, and one of few opportunities to own new commercial space in the heart of the city.

The development, located off of Macleod Trail and Glenmore Trail near the LRT station and Chinook Centre at 7005 Fairmont Dr. S.E.,  consists of two office buildings, one warehouse, a mixed-use building featuring a retail unit, in a total of about 165,000 square feet.

Construction is expected to begin by July 2015 and be completed by March 2016.

“It’s our overall confidence in the Calgary market. The business opportunity there and the growth of the market,” said Hungerford. “And with a favourable interest rate environment and well-located properties, building good products, we’re seeing success with (commercial condos) which gives us the confidence to do it again.

Click here to read the full article.

Click here to go to the Fairmore website.

A major international visual effects firm has chosen a key piece of recently vacated commercial office space for its new Vancouver branch operations in what amounts to one of the largest office deals in Mount Pleasant.

Double Negative (Dneg) is one of the world’s major producers of visual effects for the film industry, with branches in London and Singapore. Vancouver marks its third office and first anchor in North America.

The Academy Award-winning VFX company announced in the summer that it would be setting up shop in Vancouver, but only recently inked a deal with Hungerford Properties to move into Radia Block at 149 West 4th Ave. The 47,000-square-foot space housed Mountain Equipment Co-op’s headquarters since the 1990s, but MEC vacated the office Oct. 24th to move into a new building on Great Northern Way.

Click here to read the full article.

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