Hungerford Properties Announces Sale of Icon Business Park in Calgary

Posted on December 19, 2019

Icon Business Park Crop

Hungerford Properties is pleased to announce the sale of Icon Business Park, a 762,000 SF industrial facility in southeast Calgary. Hungerford purchased the 46-acre site in 2013 and successfully repositioned the property from a vacant, single-use building into a 98% occupied multi-tenant business centre.

The refurbishment program included new building systems, new exterior access points, improved landscaping, over 60 new loading doors, building fitness amenities, new office storefronts and interior tenant improvements.

“The success of Icon is attributed to the hard work and values of our people,” says Michael Hungerford. “We had a plan and are proud of how we executed. Our vision was to transform this underutilized industrial space in Calgary into a bustling industrial park, and we are thrilled to see this vision come to life.”

Today, Icon is a highly functional building with national and international tenants including, CHEP, a global supply-chain logistics services group, Robert Thibert Inc., an international automotive parts distributor; ABB Inc., a Fortune Global 500 robotics, power, heavy electrical equipment, and automation technology provider; Rolf C. Hagen Inc, the world’s largest privately owned pet products manufacturer and distributor; and The Data Group, one of Alberta’s largest single graphics communications companies.

Most recently, Icon leased 42,700 square feet of office space to Energy Safety Canada, Canada’s oil and gas safety association, which brought the building to 98% occupancy and represented one of the top 10 suburban relocation deals in the Calgary office market since 2015, according to Colliers International.

“Hungerford brought their expertise, creativity, commitment and vision to Icon and as a result, it has performed well,” says Paul Marsden, Executive VP and Partner at Colliers. “Icon is a quality asset in a great location and, in addition to providing quality service to its tenants, Hungerford has brought new life to the area through these additional businesses, their employees and clients.”

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