Westerninvestor.com - Investor advice: It may be better to buy than lease in competitive Calgary

Jan 05, 2017

Share Story

Categories:

Calgary Commercial Fairmore General News In The Media


Westerninvestor.com - Investor advice: It may be better to buy than lease in competitive Calgary

Following on the success of commercial strata in British Columbia, Alberta is seeing an expanding market in office and industrial commercial condo development across the city. Beedie Development Group and Hungerford Properties are both Vancouver developers that are taking their expertise eastward, leading the development for this asset class in Alberta.

“In the last five years, we’ve really seen the commercial condo sector take off,” said Paul Marsden, executive vice-president of industrial sales and leasing for Colliers in Calgary. “It allows small and medium-sized businesses to own their own real estate and build equity. For many of them, that’s their retirement. We are generally not seeing large businesses buying strata units. It’s hitting a middle band.”

Fairmore Business Park is one of three recent commercial condo developments by Hungerford, and the only new office and warehouse project in south central Calgary. It offers one of very few opportunities for businesses to buy new commercial space in the city. Just minutes away from downtown in a prime location, it has drawn a number of owner-operators looking to build equity in their business.

Read the full article here.

Sign Up for News: Receive regular updates by email.

SIGN UP

Recent news

Categories

Archives

Sign Up for Updates

CLOSE