Tag Archives: commercial

Commercial development delayed

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Red Deer’s municipal planning commission sent a proposal for a commercial development in the northwest corner of Oriole Park back for fine-tuning on Monday.

Developer Bradley Gabrielson is seeking to put two commercial buildings on the lot at 6852 66th St. — just off Orr Drive. One would contain a pizza restaurant and a sports bar, with conference rooms in the basement. The other is earmarked for a 17-room hotel, with 13 rooms on the second storey, and four rooms, a convenience store and a liquor store on the first floor.

Read more: http://tinyurl.com/bguulrc

 

Calgary downtown office market tight for space

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CALGARY — With no new space to be delivered until 2014, the downtown office market will continue to be very tight with low vacancy rates for the foreseeable future, says a fourth quarter 2012 report by Colliers International in Calgary.

“While growth may be somewhat muted, we do expect leasing activity to pick up as pent-up demand flows through the market and several large users secure their 2016 and beyond space in new office developments. Additional sublease space is expected to come to market though likely in smaller blocks of space,” it said.

Read more: http://tinyurl.com/a7ht866

 

Area structure plan received for mixed use commercial, industrial lands

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A significant step forward was taken in the development of future industrial and commercial lands to the east of current Devon town limits this week.

An Area Structure Plan (ASP) on behalf of three landowners in the shared Inter-Municipal Development Plan lands was delivered to the mayors of Devon and Leduc County on the morning of Tuesday, Dec. 18.

Read more: http://tinyurl.com/d54hfb2

Active year for Calgary commercial real estate industry

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CALGARY — The Calgary commercial real estate market has had an extremely active year in terms of both leasing and investment activity, says a report by CBRE.

“Demand from a dynamic oil industry and a lack of quality space have spurred new construction which could satisfy the strong demand for space,” said CBRE. “As global demand for natural resources continues to increase, Calgary is expected to be further transformed into an international market.”

Read more:  http://tinyurl.com/cysn59f  

Permit issued for five bay commercial building at Hinshaw and Herder

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A five bay commercial building at the corner of Hinshaw and Herder accounted for more than half of the total construction permitted in October.

The building is the second for the complex on the south side of Herder Drive which currently houses a Fas Gas gas bar, convenience store and the Last Chance Liquor Store. Its construction is valued at $1,113,750, according to month-end statistics released by the town Monday.

Read more:  http://tinyurl.com/d2ol79h

Downtown Calgary shopping centre on global list of most expensive retail rents

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CALGARY — A downtown Calgary mall is on a list of the world’s most expensive shopping destinations for retail rents but it is nowhere near the amount of some of the globe’s priciest markets.

Cushman & Wakefield’s latest Main Streets Across the World report, released Wednesday, said the CORE in Calgary has annual rent per square feet at $98 in US dollars. The most expensive main street in Canada was Toronto’s Bloor Street at $314, which ranked it 20th in the world.

Read more:  http://tinyurl.com/bjvjphj  

Developers set sights on business park

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A Calgary-based development firm is seeking local support for a business park south of Fort McMurray.

Pacific Investments and Development Ltd., plus several planning and engineering firms, are requesting amendments to the municipality’s Highway 63 and 881 structure plan before they can pursue the project. The proposed Prairie Creek Business Park would be a heavily commercial area, rather than industrial or residential.

Read more: http://tinyurl.com/ar9je4q