Hungerford Properties has bullish appetite
Company establishes reputation for developing, refurbishing real estate
Hungerford Properties showed its confidence in Calgary’s economy when the company expanded its local real estate holdings with the November 2013 purchase of the Haworth building on 52nd Street S. E.
Built by Calgary visionary Mogens Smed in 1999, the 761,000 square- foot building on 18 hectares of land was the largest manufacturing facility west of Ontario at the time. Described as an “iconic” asset to Calgary, it has since been renamed Icon Business Park.
The plan was to transform the building from a single to a multitenant facility and although Haworth still has a presence in the building, its first new tenant was Hagen — a worldwide distributor of pet supplies that leased 195,000 square feet.
Vancouver- based Hungerford was founded 35 years ago by George Hungerford, who today shares a partnership with his sons, Andrew and Michael, that creates award- winning residential, office, retail and industrial projects throughout Western Canada.
The company remains really bullish on Calgary as a place to do more business. Last year, it completed construction of the 120,000- square- foot NorthWinds Business Park at McKnight Boulevard and Metis Trail N. E. The condo- style development was snapped up by small businesses who seized the opportunity to own their own space. Only one unit remains available for purchase.
Nexus is another northeast commercial condo development that’s located closer to the downtown in the Franklin/ Meridian district fronting onto 5th Avenue at 33rd Street N. E.
Totalling 100,000 square feet, it’s made up of 60 per cent warehousing and 40 per cent office space in a three- storey building designed for medical use on the ground floor. Construction will be completed next month and half of the office space is already pre- sold, demonstrating how strong the market is in an area where no other new construction is expected for some time.
Hungerford also purchased the nearby former Sears distribution centre, a 260,000- square- foot complex it bought as an income property.
The company’s next Calgary investment was the purchase of a three- hectare site on Fairmount Drive south of Glenmore Trail, that for many years was the home of Irving Industries. It’s being transformed into Fairmore Business Park, a mixed- use condo development of four buildings — warehousing and offices.
In sticking to their company motto of “Build worth, build legacy” the Hungerford family have established a reputation for creating value for investors by developing and refurbishing millions of square feet of real estate assets across the West.
George Hungerford, an Olympic gold medallist in pairs rowing ( with our Roger Jackson) began his real estate career 40 years ago as an asset manager before becoming a developer, proud business leader and volunteer board member of numerous organizations in Vancouver.
Michael had an entrepreneurial venture in software followed by two years living in China and working in real estate and technology fields. Andrew travelled to London to work with Deutsche Bank and Goldman Sachs, the later to New York with Morgan Stanley and in Hong Kong with Hutchinson Whampoa.
They continue to invest with confidence in the future of this city and working with the established local teams of Gibbs Gage Architects, Chandos Construction and Colliers International on all of its projects.
NEWS AND NOTES
Calgary businessmen and women proud to be born in Winnipeg will gather June 18 at the Sirocco Golf Club for their annual “Fun- Raiser” that to date has raised more than $ 260,000 shared between Calgary and Winnipeg charities. Once again the star attraction will be the famed Salisbury House Nips for lunch that organizer Don Jakul, president of the Stormtec Group of Companies, said is the best tailgate spread you’ll ever enjoy.
Congratulations to Albi Homes on receiving three prestigious industry and business awards in recent weeks. It was named Canadian Home Builder Association’s National Grand SAM Builder of Excellence, one of Canada’s Top 50 Small and Medium Employees and one of Canada’s Best Managed Companies.