Cochrane unveils commercial condo in prime location
Charles Cochrane is a veteran in Calgary’s commercial development industry. I remember him as part of the Dobbin Cochrane Group working out of the Kensington district area. The group co- developed Northland Village with Cadillac Fairview and owned the former trailer court that was transformed into Dalhousie Station.
For a while Cochrane became involved in the telecom industry but has now returned to his true passion of development with a major project under the new name of CDC Group ( Cochrane Development Corporation).
CDC’s first project is a premier commercial development along Meadows Mile, the choice piece of property on Blackfoot Trail S. E. along the escarpment overlooking Deerfoot Meadows.
Meadows Mile Professional Centre has been designed by Andrew Martschenko of Parataxis Design with Calgary architect David Lachapelle in association with Riddell Kurczaba Architecture as a 40,000- square- foot, three- storey medical/ professional building.
Cochrane says he made the decision to market it as a commercial condominium centre as he felt ownership is logical for the user- group he is trying to attract. Interest rates are low and rental rates are high and his prospects are the type of businesses that rarely have the need to expand or contract their space requirements.
And medical related businesses have little asset value in their practices; bricks and mortar provide an economical ownership.
His findings have proven correct as before construction even begins the centre is 70 per cent pre- sold through the marketing team of David Lees and Rick Urbanski of JLL. The main floor will house a walk- in clinic and pharmacy. The building’s design will make any owner proud to have it as an address.
Cochrane’s appreciation of the 1930s warehouse look is captured in the traditional industrial style concept of light grey steel- framed glass boxes cantilevered out over surface parking stalls from a solid brick building core.
The building is provided with underground parking plus ample surface stalls.
An adjacent 4,000- square- foot building will house a drive- thru Starbucks and a second- floor office featuring a private elevator and outdoor patio.
Its location is another big plus: facing onto Blackfoot Trail gives great access to Glenmore Trail and out to Deerfoot Trail. It is next door to two planned hotels and a little further north is where the luxury car mall is being developed.
Standing on the escarpment will give the development splendid views west and over to the Bow River looking east, its height will make it highly visible from Deerfoot Trail traffic.
CDC is already in the planning stages for a second phase on its land. A 38,000- square- foot building is planned, similar in design but with a warehouse component added that is being negotiated for sale to a 21,000- square- foot user that will also take a portion of the parkade.
The main floor in this building is designated for restaurant use.
The development permit for Meadows Mile Professional Centre has been approved and construction manager Dawson Wallace plans to begin construction next month with a completion date by the fourth quarter of 2016.
Charles Cochrane, Jim Klus, vice- president development and construction, and chief communications officer Mikaela Cochrane have an exciting project on their hands, and they are already contemplating similar developments in other cities across the country.
NEWS AND NOTES
At the top of 85th Street S. W. where it meets Old Banff Coach Road, a multi- use development has been completed providing the area with more retail, a large daycare facility and a new pub. It opened this week by centre developer, George Haralabakos of Group 933 Hospitality. Called 722 World Bier Haus, it’s a freestanding 5,400- square- foot pub offering a choice of 40 beers on tap with seats for 200, plus a westside patio that can accommodate a further 70 patrons.
Haralabakos says it has been a very successful development with only a 2,500- square- foot prime corner lease remaining to be filled. All of the leasing was completed by John Moss of CBRE who tells me that his last spot is close to being signed.
Hard to believe that it is 20 years since the Lougheed House Conservation Society came into being. The historic home is celebrating its anniversary with a Daring Deco 1920s women’s fashion exhibition that will run from June 25 until Oct. 11.