- What Bighorn Capital has put 409 10th Avenue on the block
- Why The valuation for the 69,000 sq ft building is $164/sq ft
- What next Colliers has the assignment
A Calgary office building with expansion potential is on the block for $11.3m.
Colliers has the assignment for 409 10th Avenue on behalf of Bighorn Capital. The valuation for the 69,000 sq ft building is $164/sq ft.
The building is 45% leased to Hatch Engineering until June 2027. It was completed in 1952 and renovated and expanded in 2014. There is potential to add two floors to the vacant eastern portion of the property.
409 10th has an atrium-style lobby, a rooftop patio, a main-floor loading dock and 77 heated underground parking stalls. There are 86 public surface stalls adjacent to the property.
On the east side of Calgary’s Beltline District, the property is within 400 m of Macleod Trail, City Hall light-rail station and access to the Plus 15 network. The Calgary Tower, BMO Centre and future Scotia Place arena are nearby as well.
Approximately 11.9m sq ft of office space across 146 buildings was vacant in Calgary in Q3, according to Colliers, making for a downtown vacancy rate of 28.2%.
