Calgary Herald - Hungerford Properties to revive vacant SAIT building

Posted on November 23, 2016

Hungerford Properties continues to show faith in Calgary with the announcement of yet another commercial real estate investment in the city.

The Vancouver-based developer, led by partners George Hungerford and his sons, Michael, who directs operations and Andrew, who’s responsible for asset management, bought their first property here in 2012. Today, their Calgary portfolio totals more than 1.5 million square feet of real estate.

Its most recent purchase is the former SAIT building in Mayland Heights Industrial Park, on Centre Avenue N.W. west of Barlow Trail N.E.

The building was originally constructed in 1966 as a warehouse for the Alberta Liquor Control Board. In 1980 it became the SAIT Bob Edwards Building, a suburban campus where building trades were taught. Continued expansion of SAIT’s main campus meant the school no longer needed the property, which has been empty for the past two years.

The 109,000-square-foot building did not attract a lot of interest, but Michael Hungerford saw its redevelopment possibilities. Bought through Barclay Street Real Estate, he plans to convert it back to a distribution centre offering multi-tenant industrial space.

By gutting most of the interior, Hungerford will refurbish and reposition it with units starting at 4,000 square feet.

Read the full article here .