RENX.CA - INDOOR SPORTS, REC FACILITIES A GROWING CRE NICHE

B-Line Indoor Bike Park entrepreneur Ryan Greenberg plans to open his 60,000-square-foot venture in Hungerford Properties’ Champion Business Centre in northeast Calgary in August.

This type of indoor sports facility is starting to pop up in many Canadian cities and the B-Line park is a good example of this growing commercial sector.

Hungerford Properties partner Michael Hungerford says a population of a million-plus creates a critical mass where the economics work for such developments. And millennials are inclined to use these types of facilities, the Vancouver-based property executive says.

B-Line is the third recreational tenant in a 250,000-square-foot building that started its life as Sears distribution centre. The building also houses Calgary Central Sportsplex which provides facilities for soccer, baseball and parkour, and a badminton group’s space.

Other tenants in the building include a coffee distributor with a front showroom, a CDI College and a more conventional warehouse tenant.

Hungerford Properties owns and manages real estate in seven Western Canadian cities from Winnipeg to Vancouver. The company has a long record of urban infill, adapting building use as the city changes, says Hungerford.

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