FOR SALE: HIGH PROFILE INVESTMENT OPPORTUNITY · COLOCATION SITE TRADE SCHOOL INNOVATION CENTRE...
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FOR SALE: HIGH PROFILE INVESTMENT OPPORTUNITY Calgary Herald Building 215 - 16 Street SE Calgary, Alberta, Canada OFFICE DATA CENTRE CONVENTION CENTRE UNIVERSITY SPORTS CENTRE INDUSTRIAL ARTS INCUBATOR DISTRIBUTION MUSEUM COLOCATION SITE TRADE SCHOOL INNOVATION CENTRE DEVELOPMENT SITE LABORATORY GAME DESIGN STUDIO STORAGE 2 HIGHWAY Light Rail Transit (LRT) Bo w Ri ve r BRIDGELAND DOWNTOWN MAYLAND INDUSTRIAL INGLEWOOD Deerfoot Trail (167,000 vpd) M a c l e o d T rail S E ( 9 8, 0 0 0 vpd) Macleod Trail SE (115, 0 0 0 v p d ) SUBJECT PROPERTY
Transcript of FOR SALE: HIGH PROFILE INVESTMENT OPPORTUNITY · COLOCATION SITE TRADE SCHOOL INNOVATION CENTRE...
FOR SALE: HIGH PROFILE INVESTMENT OPPORTUNITYCalgary Herald Building215 - 16 Street SECalgary, Alberta, Canada
OFFICEDATA CENTRECONVENTION CENTREUNIVERSITYSPORTS CENTREINDUSTRIALARTS INCUBATORDISTRIBUTIONMUSEUMCOLOCATION SITETRADE SCHOOLINNOVATION CENTREDEVELOPMENT SITELABORATORYGAME DESIGN STUDIOSTORAGE
2HIGHWAY
Light Rail Transit (LRT)
Bow River
BRIDGELAND
DOWNTOWN
MAYLAND INDUSTRIAL
INGLEWOOD
Deerfoot Trail (167,000 vpd)Macleod
Trail
SE (98,000 vpd)
Macleod Trail SE (115,000 vpd)
SUBJECT PROPERTY
Investment Highlights• 391,590 sf mixed use office and industrial building situated at one of the most high profile locations in
inner-city Calgary, overlooking the city’s busiest traffic interchange—Deerfoot Trail and Memorial Drive SE—providing tremendous exposure
• Landmark building offering a distinctive corporate presence with unique, timeless architectural design
• 4.39 acre surface parking lot provides future development potential
• Iconic, irreplaceable site location offering panoramic views of the downtown skyline, the Bow River valley and the Rocky Mountains
• Highly versatile, multi-purpose building, with potential to accommodate a wide variety of office and industrial/manufacturing uses
• Close proximity to the downtown core and public transportation services (including the nearby Barlow/Max Bell LRT Station)
• The Mayland Industrial area is one of the most centrally located commercial business parks in Calgary, with tremendous future redevelopment potential
• The building in its present state is a blank canvas offering incredible renovation/enhancement potential
• Opportunity to expand the office portion of the building and include additional glazing along the high exposure west facade
• High profile signage opportunities associated with the building’s prominent exposure is a highly compelling aspect offering intangible long-term benefits to the occupant(s)
Address 215 - 16 Street SE, Calgary, Alberta
Description Three storey office and light industrial/manufacturing campus
Site Area ± 13.79 acres
Date of Construction 1980
Land Use I-B f1.0 (Industrial - Business District)
Tax Levy (2017) $697,891.19
Assessment (2018) $38,960,000
Parking 376 parking stalls (12 underground & 364 surface)
Parking Ratio 1 stall per 833 sf of industrial/office space
Building Area As per below
CALGARY HERALD BUILDING SPACE BREAKDOWN
FLOOR OFFICE (SF) INDUSTRIAL (SF) COMMON AREA (SF) TOTAL (SF) DESCRIPTION OF COMMON AREA
B2 - - 10,030 10,030 Mechanical
B1 37,948 70,327 14,903 123,178 Cafeteria, Gym, Daycare
1 52,407 50,043 6,446 108,896 Reception
2 48,489 55,409 6,707 110,605 Tenant Corridors
Mezzanine - 2,164 - 2,164
3 - - 36,717 36,717 Mechanical Penthouse
PROPERTY OVERVIEW
PROPERTY OVERVIEW
Building Features and Amenities• Office improvements currently comprise approximately 138,844 sf (35% of the building)
• Industrial improvements currently comprise approximately 177,943 sf (45% of the building)
• The remainder of the space in the Calgary Herald Building include an on-site fitness centre, full-service cafeteria and day care facilities (including outdoor playground) along with common area for the office space
• Heavy power and separate (redundant) electrical service feeds
• Covered rail loading, as well as covered dock-height loading and drive-in loading on two separate floors
• Specialized cooling system to reduce power demand during peak on-site manufacturing/industrial operations
• Covered/heated parking, as well as 4.39 acres of surface parking on adjacent lot
• A complete summary of more detailed aspects of the building and it’s mechanical and electrical systems is summarized in the section titled “Summary of Nov. 2013 BPCA” hereiN
Future Use Potential• The building offers flexibility for single or multi-tenant use/configuration
• Uses could include mix of office and/or light industrial/manufacturing, any of which could be expanded or contracted within the existing building shell
• Building and property could lend themselves well to a corporate (regional/national/international) head office, government services hub, or secondary education/trade school/skills development/training facility campus, for example
• Ease of access, recognizable landmark location, and incredible signage exposure are all essential attributes of the property that appeal to any type of potential use(s)
• Unique aspects of the facility (e.g., exceptional power and redundancy of service) make the property a candidate for a technology/data centre
There are a number of commercial and light industrial uses operating out of the Mayland Industrial Park today; however, as the area begins to emerge and transform, there is growing presence of office development taking place. The area has proven to be an exceptional location given the incredible views, access to major transportation routes and proximity to public transit/LRT service. This is a trend that is likely to continue as redevelopment activity remains focused on inner-city locations within close proximity to public transit services. The City of Calgary has placed significant land use planning attention on what’s known as Transit Oriented Development (TOD) sites located within certain boundaries of LRT stations, where mixed use development at greater than typical density levels has been encouraged/endorsed.
PROPERTY OVERVIEW
Central Staircase and Atrium, Construction - 1980 Printing Press Room, Floor 1 Mezzanine - 2014
Printing Press Room, Floor B1, Construction - 1980
Paper Storage Room, Floor B1, Construction - 1980
PHOTO SUMMARY
Calgary Herald Building, Construction - 1980
Paper Storage Room, Floor B1 - 2014Paper Assembly Room, Floor B1 - 2014
PHOTO SUMMARY
The land parcels identified by the municipal addresses and legal descriptions provided as follows constitutes the subject property, which collectively contains 13.79 acres, more or less:
Parcel Address Legal Description
215 - 16 Street SE
Plan May Land Industrial Park Calgary 7811505Block Three (3)Lot Two (2)Containing 3.81 Hectares (9.43 Acres) More or LessExcepting Thereout the Corner Cut on Plan 8011039Excepting Thereout All Mines and Minerals
315 – 16 Street SE
Plan 7811505Block 3Lot 1Excepting Thereout All Mines and Minerals
1790 – 3 Avenue SE
Plan 7811505Block 3Lot 3Excepting Thereout All Mines and MineralsArea:1.71 Hectares (4.23 Acres) More or Less
215 - 16 Street SE
1790 - 3 Avenue SE
9.43 acres
315 - 16 Street SE0.13 acres
4.23 acres
Avison Young Real Estate Alberta Inc. (“Avison Young”) has been retained by Postmedia Network Inc. (the “Vendor”) as the exclusive listing agent for this offering to sell a 100% interest in the subject property. The property is being marketed for sale without a list price; interested parties are encouraged to contact the listing representatives for further information regarding the property and/or the offering process.
End of an era, start of a new beginningPostmedia Networks Inc., owner of the Calgary Herald and other major news publications across North America, has outsourced printing of the Calgary Herald, as of November 2013, which has led to this unique opportunity to offer for sale this incredible real estate asset. Although no longer required for production of the Calgary Herald, the asset awaits a new occupier who will extend the service life of this monumental property well into the future.
OFFERING SUMMARY
In preparation for this sale offering process the Vendor commissioned within the month of November 2013 the following information pertaining to the subject property which can be made available to aid in a purchaser’s due diligence review process upon execution of a confidentiality agreement.
• Phase I Environmental Site Assessment (ESA) report
• Baseline Property Condition Assessment (BPCA) report
• Building measurement survey (including corresponding floor plans)
• Alberta Land Surveyor’s Real Property Report (RPR)
Avison Young and/or the Vendor reserve the right to impose a submission deadline with respect to the written offering interest of prospective purchasers at any time throughout the marketing phase of this sale offering process. Avison Young can provide and/or aid in crafting draft offering documents, including a non-binding Letter of Intent (LOI) or a binding form of Offer to Purchase/Agreement of Purchase and Sale, to interested prospective purchasers upon request. For more information on this opportunity please contact any of the following listing representatives:
Allan Zivot, Principal 403.232.4307 [email protected]
Walsh Mannas, Principal 403.232.4381 [email protected]
Kevin Morgans, Principal 403.232.4318 [email protected]
Jim Kerrigan, Principal [email protected]
Kent Bacon, SIOR, Principal 403.232.4330 [email protected]
avisonyoung.com© 2018, Avison Young Real Estate Alberta Inc. All rights reserved.
The information contained herein was obtained from sources which we deem reliable and, while thought to be correct, is not guaranteed by Avison Young.
Steve Vesuwalla, SIOR, Principal [email protected]
TRANSACTION OVERVIEW
CALGARY OVERVIEW
Location OverviewThe property is situated within the Mayland Industrial Park, which is a uniquely located inner-city commercial/industrial node bounded by major traffic thoroughfares including Deerfoot Trail, Memorial Drive and Barlow Trail. The property is located at the southwest corner of the Park, overlooking and providing tremendous exposure to Deerfoot Trail, Memorial Drive and the Bow River valley below.
The property is accessible via Barlow Trail using Centre Avenue, or by way of westbound Memorial Drive SE and 19 Street SE. Ingress and egress is remarkably convenient given the property’s near immediate proximity to the major Deerfoot Trail and Memorial Drive traffic interchange.
The city’s northeast Light Rail Transit (LRT) line parallels Memorial Drive SE immediately south of the Mayland Industrial Park. Buss transit service is provided throughout the Mayland Industrial Park, offering routine pick up and drop off at the nearby Barlow-Max Bell LRT Station, situated only two station stops outside of the downtown core.
LOCATION OVERVIEW
There are a number of commercial and light industrial uses operating out of the Mayland Industrial Park today; however, as the area begins to emerge and transform, there is growing presence of office park redevelopment taking place directly east of the Park, along the east side of Barlow Trail. The area has proven to be an exceptional location given the incredible views, access to major transportation routes and proximity to public transit/LRT service. This is a trend that is likely to continue as redevelopment activity remains focused on inner-city locations within close proximity to public transit services. The City of Calgary has placed significant land use planning attention on what’s known as Transit Oriented Development (TOD) sites located within certain boundaries of LRT stations, where mixed use development at greater than typical density levels has been encouraged/endorsed.
CALGARY
DOWNTOWN
Area Amenities• Close proximity to numerous restaurants situated along the Barlow Trail Commercial Corridor
• Convenient access to the Bow River and Nose Hill Creek recreational pathway systems
• Downtown Core is only 3.5 km west of the property, easily accessed via main transportation corridors and public transit - including the Light Rail Transit (LRT) service
• Prominent civic/entertainment/retail amenities in close proximity, including the Calgary Zoo, TELUS Spark Science Centre, Max Bell Arena, major municipal parks, golf courses, shopping centres and the Peter Lougheed Centre, one of Calgary’s largest hospitals
AERIAL SUMMARY
16 Avenue/Trans-Canada Highway (82,000 vpd)
Barlow Trail (37,000 vpd)
Deerfoot Trail (176,000 vpd)
N
36 Street NE
Sunridge LRT Station
Marlborough LRT Station
Franklin LRT StationZoo LRT Station
Barlow/Max Bell LRT Station
VISTA HEIGHTS
MAYLAND HEIGHTS
SUNRIDGE
MERIDIAN
Memorial DriveSUBJECT PROPERTY
Allan Zivot, Principal 403.232.4307 [email protected]
Walsh Mannas, Principal 403.232.4381 [email protected]
Kevin Morgans, Principal 403.232.4318 [email protected]
Jim Kerrigan, Principal [email protected]
Kent Bacon, SIOR, Principal 403.232.4330 [email protected]
avisonyoung.com© 2018, Avison Young Real Estate Alberta Inc. All rights reserved.
The information contained herein was obtained from sources which we deem reliable and, while thought to be correct, is not guaranteed by Avison Young.
Steve Vesuwalla, SIOR, Principal [email protected]
