Remington Development Continues their Success in Quarry Park – Will it have spin off for Calgary Industrial Market?

Sep 29, 2012 by

 

There has been speculation that at some point the hold that downtown Calgary has on oil companies and the related service organizations would loosen.  Well as in so many other instances it takes a first class organization like Remington Development Corp. to loosen that grip.  Imperial Oil has recently announced that they will be moving their operations to Quarry Park . The move will certainly force others to ask whether there is need to be downtown. 

What does this have to do with Calgary Industrial Real Estate?  Well frankly it is about speculating on the possiblity that a move of this magnitude will cause others to consider locations of this nature in the periphery versus the major concentration downtown.  You can’t design build an 800,000 square foot complex for a quality company like Imperial Oil which will bring 2,300 staff to the area and not have surrounding real estate benefit.  Retail, office and industrial space will all be positively impacted.  Quarry Park is within 10 minutes of Foothills Industrial Park, Eastlake Business Park, and Southbend Industial Park, which can only benefit from a relocation such as this.  Lets not forget the industrial buildings that Remington is already buiding in the park.  See a past posting on this topic.  Oil service companies that supply product and services to the Imperial Oil’s of the world can be closer to their clients and do not have to have duplicate offices in the downtown core and office in their manufacturing plants in the industrial parks.  Here is the Calgary Herald Article and along with the Release from Imperial Oil.

For more details on how this move could affect your business and the opportunities that it may present please contact NAI Advent in Calgary by visiting our web site at NAIAdvent.com