Hungerford’s Icon Business Park Now 95% Leased: Bright Spot for Commercial Real Estate in Calgary

Posted on February 02, 2019

February 4, 2019, Calgary – Hungerford Properties’ Icon Business Park is now 95% leased, with existing tenant, Robert Thibert Inc. taking additional space of approximately 52,000 square feet. This brings their total space at Icon to close to 120,000 square feet. Icon is one of the city’s largest buildings and formerly home to the city’s largest manufacturing plant. Over the past five years, Hungerford has transformed the property from a single-tenant facility into a state-of-the-art, class A, multi-tenanted business hub in the city’s southeast, as well as expanding the property with both retail and build to suit opportunities.

Robert Thibert Inc., an automotive parts distributor based in Quebec, originally leased just over 67,600 square feet in the warehouse portion of the building. Canada’s leader in vehicle accessories was originally attracted to Icon for its accessibility and distribution facilities when they moved in two years ago. Their recent expansion at Icon is driven by their growth in the region and they now envision this facility becoming their main distribution hub for Western Canada.

“We will now be able to service our customers in Western Canada at a quicker pace and to support our facility in Vancouver, improving customer satisfaction,” says Tony Rosati, Director of Distribution at Robert Thibert. “With more than 100,000 square feet of space, this is a perfect opportunity for growth at a facility that has served us well both in terms of location – close to highways, rail yards and the port – and in terms of the facility itself.”

“This is a strong indicator of the quality of real estate and the agility Icon can offer tenants of all different sizes,” says Paul Marsden, Executive VP at Colliers International. “While the industrial real estate market continues to feel the impact of the energy sector, Icon Business Park stands out as an anomaly and continues to find creative ways to meet tenant’s demand.”

Dubbed “southeast Calgary’s most intelligent workspace,” Icon Business Park is an award winning 760,000 SF Class A industrial building that sits on 45 acres of land in southeast Calgary. Icon has strong covenant tenants in place with long term leases including ABB, a leader in power and automation technology, Rolf C. Hagen Inc, a leading worldwide distributor of pet supplies, The Data Group, Alberta’s largest single graphics communications company and CHEP, a global business of equipment pooling for pallets.

“With Robert Thibert’s expansion, Icon’s industrial space is now 100% leased,” says Michael Hungerford. “We have worked hard to attract a growing roster of first-class businesses at Icon and we are thrilled to see our original vision for the property - creating a thriving business hub - come to life.”

The building’s strategic location takes advantage of Calgary’s growing reputation as a logistics hub for Western Canada and offers great appeal for manufacturing and logistics enterprises and suburban office tenants.

For more details, please visit www.iconbusinesspark.com