Will Calgary Commercial Real Estate See Retail Condos in Enclosed Malls?

Oct 3, 2013 by

Fieldgate logo Plazacorp logo

Looks like the trend of owning the space your business occupies is starting to build momentum.  The concept of owner occupied space has been long established in the Calgary industrial real estate market.  The concept is building momentum in the office and medical arenas of commercial real estate and has seen moderate interest from retailers occupying or owning inline retail or strip centres.  Enclosed malls though?  First I have heard of it.  Interesting article  in the Globe and Mail speaking of some recent successes on converting former Zellers locations in to retail condos.  The project is a joint development between Fieldgate and Plazacorp.  Both are predominantly eastern based organizations although Plazacorp has 2 properties in Alberta.  One in Okotoks and one in Lloydminster.  There are likely a few candidates for this in Calgary.