Any company needing about 43,000 square feet of space developed to extremely high standards would expect a lengthy construction schedule and a hefty bill at the end of it.

If this company wanted to be adjacent to Deerfoot Trail, patience and deep pockets probably wouldn’t be enough. Most of that highly desirable stretch of real estate has already been spoken for.

But thanks to an unusual set of circumstances, Calgary’s Remington Development Corporation is leasing just such a property, at a relatively low cost because somebody else did the waiting and spending.

A signature on a lease and a turn of the key would put a tenant in the north end of the Deerpoint Tech Centre at 7944 10th St. N.E. – among the most desirable commercial properties to come on the market in years.

David Weinkauf in the foyer of the office, which also boasts a comfortable meeting room and hardwood ceiling

A stroll through the three-building complex reveals gorgeously appointed executive offices, three attractive and practical kitchens and hardwood ceiling panels.

There is designer lighting – incorporating skylights throughout the office space – that costs many times the typical expenditure for offices. Portions of the floor are raised for computer users.

In addition, there’s a lab area with explosion-proof walls and glass, an abundance of special wiring for high-tech requirements, the capability of fibre-optic connections, and electrical power that’s double what you’d expect for a facility this size.

Being adjacent to Deerfoot Trail, a tenant’s sign with company name would be highly visible. Besides an abundance of free parking, it’s all going for about 25 per cent below market value.



So what gives? Why is this on the market for a great deal?

The answer is somebody else’s financial restructuring. Alternative Fuel Systems, a Calgary-based company using its technology to run diesel and gasoline engines on compressed natural gas, originally leased the Deerpoint space and spent a fortune of its own money on top-class interior appointments.

Remington’s senior vice-president Larry Mason explains that AFS has gone through a financial restructuring and had to move into more modest headquarters.



“If we underwrote the building today, we would probably be at a $14-per-square-foot rental rate to do this type of premises, when you take into account land costs and the amount of improvements being left in there,” Mason says.

“Somebody can get into this building on a turnkey basis for $11.30 a square foot and enjoy the advantage of that, so there are substantial savings.”

Among the potential tenants would be engineering firms or any company with an R & D component. But the space could easily be modified for a wide range of needs, and even split for two tenants if necessary.

“It wouldn’t take a lot of work to accommodate a variety of users,” Mason says.

David Weinkauf, vice-president, marketing, with Remington, points out that high parking costs in downtown Calgary are causing an increasing number of companies to seek convenient alternative locations. There’s also the time factor. “Being downtown is time consuming,” he says.

“A lot of companies have an office presence downtown because they felt they had to be there among their competition and their peers.

“Today, you’re starting to see more and more tenants – because of parking and congestion downtown – going to the suburbs for a location like this.”

And yet, by being adjacent to Calgary’s only true freeway, Deerpoint is only minutes away from the city centre.

“It’s a great opportunity for someone to relocate into a new business park with excellent proximity to Deerfoot Trail and access to the airport and downtown,” Weinkauf says.

All kinds of amenities have sprung up in the area to serve this growing market. There are numerous handy restaurants for executives, employees and clients, plus 15 hotels within a five-minute drive and about 100 retailers and services close by.

While the former AFS space is exceptionally high-end, there was method in its design. The environment is comfortable and inviting, subtly conveying the message that anybody working there is valued by their employer.

This is not Dilbertland, awash in cheap fluorescent light with cramped cubicles or cookie-cutter fixtures. “The high standard reflects on how hard people work,” Mason says.

“The better the environment, such as having skylights and good kitchens for lunches in comfort, the better people feel about their jobs. All of it enhances the work experience.”

Mason and Weinkauf can be reached in Calgary at 403.255.7003 or by e-mail at lmason@remingtoncorp.com or dweinkauf@remingtoncorp.com