Calgary Herald – Icon Business Park Adds Another Major Tenant
The economy may be taking its toll on Calgary’s commercial real estate industry but the Icon Business Park in the southeast part of the city is enjoying some success recently in leasing activity.
Hungerford Properties has secured its third anchor tenant for the facility and the office component of the building is now 68 per cent leased. It is leasing about 71,000 square feet of office and warehouse space to ABB, a global company in the utilities, oil and gas and mining sectors for over 100 years.
Michael Hungerford, of Hungerford Properties, said the value the company is able to offer tenants in a value-conscious market has been important.
“The building has so many great attributes and was so well-constructed and we’ve continued in that vein. We’ve undergone a major refurbishment of the building and we’ve successfully re-positioned it,” said Hungerford of the building that was formerly the Haworth facility.
He said the deal brings the property to more than 50 per cent leased for both office and warehouse space on a long-term basis.
“I am hopeful that you will get an update from us in a few weeks with another major announcement,” he said. “Basically the plan is coming together nicely and we’re very pleased and thankful for the support we’ve had from the city and the tenants are very happy with us. We’re delighted to keep plugging away in what’s a difficult leasing market but we’re optimistic and expect this to continue with the building to fully lease up.”more