Anyone who has been to the Calgary Stampede, or a Calgary Flames hockey game, would recognize the site of OPUS Building Corporation's new Stampede Station office building slated to break ground this summer. It is a vacant lot located directly across from the LRT station frequented by thousands of visitors to the adjacent Calgary Stampede and Exhibition Grounds. It is a prime office location in the rapidly developing beltline area bordering downtown Calgary now considered the hottest commercial real estate market in North America.
The first phase of the commercial development of Stampede Station Office will be a nine storey, 153,000 square foot office building with 20,000 square feet of retail designed by Gibbs Gage Architects of Calgary. It is Phase One of a three phase office and retail development located on a development block contained by the north and south bound routes of MacLeod Trail and 15th and 13th Avenues S.W.
The entire 7.21 acre property, formerly known as the "Campeau Lands", is divided into four quandrants. The Stampede Station office will occupy the North East corner. On the South west corner is construction site for Cove Properties Sasso condominium complex comprised of two buildings 24 storey Sasso Life that is sold out and nearing completion and 34 storey Vetro Life . The entire block is expected to be built out by 2011 with two additional office towers, another condo, a parking garage and an extensive retail component.
Stampede Station is in the Victoria Crossing Business Revitalization Zone a collaboration of over 300 merchants and businesses working together to promote and improve the community of Victoria. Victoria Crossing is the city's oldest neighbourhood whose unique character has generated a lively and diverse selection of restaurants, shopping experiences and cutural events in addition to the recognizable attractions of the Stampede Grounds.
The pending development of a hotel and casino on the Stampede Grounds and the commercial growth of Victioria Crossing has bolstered the viability of the area for new developments. The second and third phases of IBM's Campus-style offices are now underway at 11 and 12 Avenues at 2 Street SW. New condominiums in the area include Chocolate Condo which is nearing completion, the SkyTower which just broke ground and the arriVa Condos at 34 and 42 storeys will be Alberta's tallest residential skyscrapers.
OPUS Building Corporation, and its equity partner WAM Developments, are proceeding with the Stampede Station office without tenants in place. Commenting on the decision Brad Krizan, Director of Leasing, OPUS Building Corporation said,
"We think the market is quite strong and there is a track record of success for building on spec." He added, "In prior development cycles the market wasn’t there for the building. Now there are new residential developments, re-development of the exhibition grounds and high demand for office space. The area has matured and it is ready for a project of this scale to be built."
Krizan anticipates the building will attract tenants who want to be close proximity to the downtown core, access to the amenities in the Victoria Crossing but who also have a greater need for parking. Stampede Station office will have a 1,000 parking places distributed between a parkade, one of the largest in the city, and an underground parking lot. Access to the building by all modes of tranportation will be ideal given its location on a major arterial road, a main bus route, next to the LRT and connection to Stampede Park by +30 pedestrian connection
While other developers delay marketing their properties well into the construction phase, OPUS is already promoting the project to tenants and agents. Krizan can see no benefit to delaying the leasing process, "We're definitely building it, so we are ready to sign deals."
For more information concerning the Stampede Station office please contact Brad Krizan, [email protected] or 403-283-0000.
Brad Krizan, Director of Leasing, OPUS Building Corporation recently moved to OPUS after 6 years in leasing and property management roles with the Oxford Properties Group preceded by 3 and a half years as a commercial real estate agent in Calgary. He has over 1.8-million square feet of transaction experience.
Opus Building Corporation and Opus Building Canada Inc. is a single source, premier developer of commercial office, industrial, retail and institutional properties. It has offices in Calgary, Edmonton and Vancouver.
|Stampede Station Office
15th Avenue and Macleod Trail South
|Owner||OPUS Building Corporation and
|Architect||Gibbs Gage Architects|
|Leasing||OPUS Building Corporation|
|Construction||OPUS Building Corporation|
|Google Maps||Satelitte image with street overlay|