Hungerford’s Icon Business Park Expands, Offering Bright Spot for Commercial Real Estate in Calgary
Posted on November 10, 2016, by icon
Hungerford Properties has expanded its Icon Business Park with the acquisition of 5 acres of additional land on the corner of 52nd Street and 61st Avenue SE. Icon, a 759,000 SF facility, is one of the city’s largest buildings. Hungerford’s latest announcement of an expansion, as well as several new leasing deals within the building, showcases strong momentum and a bright spot for the city’s commercial real estate market.
Hungerford – which has transformed Icon into a multi-tenanted business hub over the past three years – will be leasing 68,000 SF of warehouse to Robert Thibert Inc, Canada’s leader in the distribution of vehicle accessories. They were attracted to Icon for its accessibility and distribution facilities.
Data Communications Management, Alberta’s largest graphics communications company, is already on site leasing 112,000 SF. They just announced they are expanding at Icon, taking an additional 48,000 SF adjacent to their existing space for additional warehousing. “Icon has been such a great space for our growth that we are excited to be expanding,” says DATA General Manager, Ken Mateshaytis. “It’s exactly what we need to continue improving the way we do business.”
Chep, a global leader in equipment pooling for pallets, is also expanding their presence on site with an office expansion and an additional one acre of yard space.
With these deals, Icon Business Park is now 80% leased. “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, 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 meets tenants’ demands.”
Current tenants include ABB, a world leader in power and automation technology, Rolf C. Hagen Inc, a leading worldwide distributor of pet supplies, Data Communications Management, Robert Thibert, Inc. and Chep.
Dubbed “southeast Calgary’s most intelligent workspace,” Icon offers an unprecedented opportunity to lease warehouse and office space. The building’s strategic location takes advantage of Calgary’s growing reputation as a logistics hub for Western Canada and will appeal to manufacturing and logistics enterprises and suburban office tenants.
Remaining available space at Icon ranges from 19,000 to 54,000 SF of warehouse and 23,000 SF of office/restaurant available now. Build to suit retail, restaurant and gas station opportunities will be available for 2018 at Icon Retail Centre, the newly acquired 5-acre land parcel adjacent to Icon.