Latest Anthem acquisition helps meet high demand for modern small to medium format industrial space
CALGARY, Alberta, June 23, 2022 (GLOBE NEWSWIRE) -- Anthem has acquired 95 acres of prime 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 a testament to their belief in 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, high-quality, income-producing assets, in parallel with a robust, 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.”
The Barlow project will complement Anthem’s two other industrial development projects in the rapidly expanding distribution hub of Balzac, immediately north of the Calgary city limit. Those future logistics parks will be designed with medium- to large-format distribution/logistics tenants in mind.
Day shares, “It’s our goal to be able to offer various options to different business types across the region. We are devoted to meaningful, long-term investment in Alberta. Calgary is just the beginning.”
The Anthem team is continuing to seek additional industrial investment opportunities and aims to expand into several key markets throughout Western Canada and the US.
Founded in 1991, Anthem is a team of 450 people driven by creativity, passion and direct communication. Anthem has invested in, developed or managed – alone or in partnership – more than 310 residential, commercial and retail projects across western North America.
Our growing residential portfolio includes 17,500 homes that are complete, in design or under construction, from master planned mixed use residential and multifamily, to townhome and single family communities.
We own, co-own, manage or have previously owned over 8.5 million square feet of retail, industrial, residential rental and office space. We have developed more than 60 communities across 7,400 acres of land in Alberta, British Columbia and California.
Anthem is a real estate development, investment and management company that strives, solves and evolves to create better spaces and stronger communities. We are Growing Places.
Rebecca Vigelius Media Advisor Anthem Properties Group Ltd. Phone: +1 877 568 9636 Email: rvigelius@AnthemProperties.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/4b38aab6-e20a-4257-8e17-9e00303cce92
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