Anthem announces acquisition of former manufacturing site
by CM Staff
Their development plans will turn the site into a multi-phase business park with facility options for small- to medium-format occupiers, along with ancillary retail components.
CALGARY — Anthem has acquired 95 acres of industrial land in Southeast Calgary. This is the latest in a series of acquisitions from the company’s newly formed industrial team. Since August 2021, Anthem’s industrial portfolio in Calgary has grown by over 375% with the acquisition of five existing industrial properties, totaling upwards of 650,000 square feet of gross leasable area, along with approximately 290 acres of industrial development land.
The pace of Anthem’s growth is an effort to support Alberta’s industrial market, which has seen heightened demand for industrial product and the lowest vacancy rates since 2014.
“Regional and national distributors and logistics companies are looking to Alberta,” says Sean Day, Anthem’s Vice President of Industrial. “Calgary’s excellent transportation infrastructure, low cost of living, young and dynamic population, availability of developable land and more economic rents compared to Toronto or Vancouver make it one of the hottest markets for industrial right now.”
Anthem aims to meet the rising demand for industrial space through the acquisition and improvement of existing income-producing assets, in parallel with a vertically integrated, build-to-core development program.
“Anthem manages all major operating activities in-house, which provides us with the unique ability to create value at every stage of a project’s lifecycle and truly tailor our products to the user’s needs,” says Day, adding, “Our integrated structure allows for Anthem to be directly involved in the creative aspect of a project from initial design through to build-out. We also hold and manage our projects on a long-term basis. That’s a significant distinction for a potential tenant when considering alternatives – trusting that their business partner will be the same when they are renewing or expanding many years later.”
Anthem’s latest development project sits on a former welded steel pipe manufacturing facility at the busy corner of Barlow Trail SE and Glenmore Trail SE in the mature Foothills Industrial node of Southeast Calgary. Their development plans will turn the site into a multi-phase business park with facility options for small- to medium-format occupiers, along with ancillary retail components.
“Our Barlow development will supply more industrial density to the area, transforming the site from a low-density heavy industrial usage to high-density light industrial. There is relatively limited supply of modern small- to medium-format industrial space in Southeast Calgary, so we’re aiming to provide some relief to the market in that regard,” says Day. “This location has the potential to be Southeast Calgary’s most preeminent business park given its proximity to other well-trafficked businesses and major transportation networks, as well as views from Barlow Trail and Glenmore trail.”