205 Quarry Park Blvd SE

The Colliers Investment Team is pleased to present 205 Quarry Park Boulevard SE for sale. 205 Quarry Park is a trophy quality suburban office building, located on 22.12 acres of land. The 358,934 SF building has been institutionally held and maintained to an exceptional standard since it’s completion in 2008. It is the recipient of several awards for its design, operations and many efficiencies (including LEED Gold, Boma Best Gold and the 2020 Earth Award). Currently, the building is 61% occupied by three high quality, long-term tenants and produces positive cash flow. WALT on the Property is 6.3 years and average in-place rents are $15.76 PSF (21% under-market), presenting a strong case for income upside by way of future lease rollovers. Canadian Tire is the property’s largest tenant, currently occupying 139,651 SF with lease term taking them to 2029. The Property has been their Western Canadian headquarters since 2018. The building features significant upside to income through lease-up and will provide a purchaser with a state of the art cash flowing asset. The large floor plates are highly demisable and will accommodate tenants as small as 5,000 SF. 205 Quarry Park also features an unmatched parking ratio of 5.0 stalls per 1,000 SF - best in Quarry Park area. The opportunity exists for an investor to add density to the site by way of a notable portion of excess land on the western edge of the Property. This is ideally suited for multi-family residential development. The Vendor has initiated the pre-application process with the City of Calgary for rezoning and subdivision. Post development, the property will retain a parking ratio superior to its Quarry Park competitive set. Highly accessible from Glenmore Trail, via Deerfoot Trail and the future Green Line LRT, Quarry Park is a well established commercial and residential node situated on the banks of the Bow River. With its core of grocery, retail, lifestyle and fitness amenities, it offers a highly desirable place to live, work and play for tenants and residents of the area, alike. 205 Quarry Park is offered on an unpriced basis with bid date to be announced.