RENX.ca - Five reasons to buy a Calgary commercial condo now

Posted on August 03, 2016

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Are you leasing an office or warehouse space in Calgary? With interest rates at all time lows, now might be a good time to think about buying into your own commercial condo.

Commercial condos are an increasingly popular choice for savvy business owners who understand the value of building equity in their own company. In Vancouver and Toronto, the popularity of commercial condos is on the rise and availability is scarce. But in Calgary, there are more options for businesses wanting to buy into new, high quality, Class A commercial buildings.

In Calgary’s Meridian/Franklin area, for example, Hungerford PropertiesNexus Business Centre is attracting companies like True Directional Services that purchased 4,100 square feet of office and warehouse space. After 5 years of renting, the directional drilling technology company felt that buying was the only option that made economic sense.

“With such low vacancy rates, rent in the Calgary market can be expensive,” says CEO Sean Senos. “Owning for my company means we can have more capital to invest in tools and growing the business, rather than throwing the money away at rent. It costs us 25% more to rent rather than to own.”

In addition to Nexus Business Centre, the top selling commercial condo in the Calgary market, there is Hungerford’s Fairmore Business Park, in South Central Calgary. Fairmore is a new 7-acre development located by Chinook Centre that is 48% sold and offers high-quality, Class A space in a brand new building.

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