01-14-2014, 04:16 PM
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#61
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Franchise Player
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Quote:
Originally Posted by ranchlandsselling
So in the case of a sublet will the tenancy be subject to the same restrictions on occupancy and have to be considered "research park tenants?". I know there's some restrictive use covenants in there.
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Yes they would be. We approached the university committee and vetted the guidelines for approved tenancies. The tenant has to be research orientated in nature but their definition on what is “research oriented” is fairly loose. Effectively any tenant who could afford and would be interested in this type of space would likely be approved to enter the park.
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01-27-2014, 10:22 AM
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#62
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Franchise Player
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Colliers Downtown group just released their Q4 2013 report. Thought some here might be interested, PM if you have any questions or want more information.
Quote:
Downtown Office Market Balancing Act
The last year can be seen as a giant step towards a more balanced office market whereby
Landlords and Tenants negotiate from an equal footing. This represents a significant change
from 2010, 2011, and 2012 where the vacancy rate reached 3.53% in Q2 2012, its lowest
level since Q1 2008, where Landlords were able to secure tenancies at elevated rates with
minimal tenant inducements. With four consecutive quarters of negative absorption through
2013 totaling 1.58 million square feet, 3.6% was added to the vacancy rate which now stands
at 7.28%. This represents the greatest amount of annual negative absorption the Calgary
downtown office market has ever experienced.
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Full report is: here
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02-03-2014, 07:01 PM
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#63
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Franchise Player
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Just wrapped up our suburban and beltline dashboard for Q4 2013, take a look!
BELTLINE
SUBURBAN
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02-10-2014, 10:54 AM
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#64
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Franchise Player
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Allied Properties REIT hosted a broker reception last week. They have been very successful in Calgary and now hold the majority of character space in the city with the acquisition of Biscuit Block and The Pilkington Building which will close later this month.
The Herald did a write up on them. If your company wants character space in Calgary, you’ll almost certainly be dealing with Allied.
Quote:
Allied Properties REIT continues Calgary buying spree. Art Central and Fashion Central buildings transformed.
“The consolidation in Calgary has been very successful for us,” said Michael Emory, president and chief executive of Allied, who was in Calgary this week. “We wouldn’t have expected going in, to be honest, that we’d be able to put together such a good concentration of properties so quickly. But we have. It’s gone very well. We like the market . . . We’ve really been pleased with what we’ve been able to accumulate here.”
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Full article is: here
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02-12-2014, 10:15 AM
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#65
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Powerplay Quarterback
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Quote:
Originally Posted by J pold
Allied Properties REIT hosted a broker reception last week. They have been very successful in Calgary and now hold the majority of character space in the city with the acquisition of Biscuit Block and The Pilkington Building which will close later this month.
The Herald did a write up on them. If your company wants character space in Calgary, you’ll almost certainly be dealing with Allied.
Full article is: here
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royop fully out of biscut?
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02-14-2014, 01:44 PM
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#66
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Franchise Player
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Quote:
Originally Posted by ranchlandsselling
royop fully out of biscut?
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Not technically as the sale hasn't closed but if it does, and it likely will, then yes they'll fully be out of it.
Allied is on a buying spree and I think their model will be very successful in Calgary.
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02-27-2014, 03:47 PM
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#67
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Franchise Player
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It’s been a crazy few weeks for the commercial office market but I wanted to update this thread with new activity. We have been seeing a numbers of business outside of the downtown look at purchasing their property over leasing. One new building that has hit the market in the past few weeks is the Danatec Building on 24th Street in the SE. Specs are below:
If your company is looking at purchasing a building let me know!
11450 29th Street SE Calgary, Alberta
Property Highlights- AAA Building on 2 levels
- Modern Office Finishing
- Excellent Signage Visibility
- Premium location with Easy access to
- Deerfoot Trail Quarry Park and East Lake
- Handicap access and elevator
- 12 designated parking stalls with others available on first come basis
Property Details
- Office Unit # 201 4,532 sq. ft.
- Legal Description: Plan 0111977, Unit 15
- Office Unit # 205 4,004 sq. ft.
- Legal Description: Plan 0111977, Unit 16
- Total: 8,536 sq. ft.
- Zoning: I - C (Industrial - Commercial)
- Property Taxes: $14,766.98
- Asking Price: $2,900,00
Pics:
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03-04-2014, 02:32 PM
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#68
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Franchise Player
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Office Leasing Details:
Available Area:- Building 1: 23,200 sq. ft. (one storey) 100% Available
- Building 2: 52,600 sq. ft. (two storey) 90% Available
- Building 3: 6,396 sq. ft. (two storey) 15% Available
- Building 4: 16,100 sq. ft. (one storey) 100% Available
- Total: 132,600 sq. ft.
Parking:
- 205 surface stalls, 194 underground stalls
- 3 stalls per 1
- ,000 sq. ft.
- 51% surface to 49% underground
Operating Expenses:- One storey buildings est. at $7.00 psf
- Two storey building est. at $11.00 ps
Occupancy:- Building 1 & 2: Ready for fixturing
- Building 3 & 4: Ready for fixturing
- From approximately 3,500 to 92,745 SF
Last edited by J pold; 03-05-2014 at 11:10 AM.
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03-13-2014, 03:41 PM
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#69
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Franchise Player
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Had a luncheon today with Remington Developments about Meredith Block. Right now they have the 5th floor leased to IBI Group. It's an interesting project that I think they'll ultimately be successful with. The signage opportunity looking out over the 5th Avenue Flyover will be spectacular.
PM me if you have any further questions.
I have a dropbox with rendering and information: here
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03-19-2014, 01:11 PM
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#70
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Franchise Player
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Just got back from a luncheon on Arlington Developments new project on Elbow and 50th ave. The Windsor is five story mixed use development with main floor retail and 4 stories of office. They have a handful of deals in place but need to get a few more across the goal line before they start moving on construction. The pre-leasing threshold is 40%.
Marketing brochure and info is here, let me know if you have any questions.
Last edited by J pold; 03-19-2014 at 01:15 PM.
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03-24-2014, 08:48 AM
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#72
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Franchise Player
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Quote:
Oilpatch optimism flowing back into Calgary downtown office market
A new report by commercial real estate firm CBRE shows a swing in a positive direction for leasing of office space in the core during the first quarter of this year.
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http://www.calgaryherald.com/busines...836/story.html
Report is from CBRE, we both run numbers every quarter and CBRE research tends to be more positive than Colliers but interesting seeing their perspective. I'll be posting our quarterly report once it's completed this week.
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03-26-2014, 11:08 AM
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#73
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Powerplay Quarterback
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Do you know what is going on with the retail space in Nuera/Alura (1st St. East between 13th & 14th Ave South)? I know the plan was to open that up once the second tower finished which should be later this year but I was wondering if know and can share any of the following:
1. What date they expect it to be available to a commercial tenant?
2. How many spaces there are - is it one large unit or several smaller ones?
3. Are there any retailers lined up yet or any interesting rumors?
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03-27-2014, 11:58 AM
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#74
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Franchise Player
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Quote:
Originally Posted by Arsenal14
Do you know what is going on with the retail space in Nuera/Alura (1st St. East between 13th & 14th Ave South)? I know the plan was to open that up once the second tower finished which should be later this year but I was wondering if know and can share any of the following:
1. What date they expect it to be available to a commercial tenant?
2. How many spaces there are - is it one large unit or several smaller ones?
3. Are there any retailers lined up yet or any interesting rumors?
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I’m office so in short no I don’t. Retail is extremely protective of their information so even if I was a retail broker I couldn’t share that information in a public forum like CP. Most major retailers have their own real estate departments who do a lot of planning and number crunching before they make a decision. It can take years to come to an agreement on the lease and brokers are restricted by confidentially agreements until everyone signs on the dotted line.
For example I list the office space in 20/20 (the new development in Mission along 4th street) and have no idea what’s going on with the retail portion of the building even though it’s been done within in our office.
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04-28-2014, 04:57 PM
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#76
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Franchise Player
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I've been away but will be back up to updating this thread regularly. Some news articles about the 3 Eau Claire disaster. We have been in discussion with Shaw about their long term strategy now that their deal feel apart.
3 Eau Claire project seeking partner or new owner to continue
http://www.calgaryherald.com/busines...822/story.html
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04-30-2014, 03:25 PM
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#77
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Franchise Player
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The Colliers Downtown Team just finished up the Q1 2014 Downtown Office report. In it we go over major transactions in the market place, emerging trends, and overall and forecasted vacancy.
Take a look and if you have any questions feel free to PM me!
Download the full report here.
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05-07-2014, 07:03 PM
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#78
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Franchise Player
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Posted this in the Imperial Oil thread but I thought it belonged here as well. Westmount Building 5 is 8 floors with 240,000 rentable square feet a Rumors are that Stantec and Bantrel are looking at it.
Rendering below:
Westmount Website is here: http://www.westmountcorporatecampus.com/#
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06-04-2014, 10:05 AM
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#79
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Franchise Player
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Calgary downtown office market rebounds at a slow pace
Quote:
CALGARY - After a downturn in the downtown Calgary office market last year, leasing activity has picked up in the city, but at a slow pace.
Randy Fennessey, president/partner of Colliers International, described Calgary’s downtown commercial real estate market as a “healthy” one with a vacancy rate around 8.1 per cent.
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http://www.calgaryherald.com/busines..._lsa=aa72-3575
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