Fast-Growing ClearView Companies Take Over the Industrial Real Estate Market

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After 22 fulfilling years at Avison Young, including 17 as a partner in the Calgary office of the global real estate firm, Steve Vesuwalla decided to start his own business in 2019.

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He still collaborates with his former colleagues but, while continuing to specialize in industrial real estate, wanted to launch his own development fund to acquire a portfolio of properties.

Vesuwalla purchased a three-story commercial condo along 1 st Avenue NE in Bridgeland for ClearView Commercial Realty and, thanks in large part to rewarding relationships with long-time loyal clients, performed very well from the start.

Industrial buildings continue to be his priority and his latest project is the leasing of a 108,000 square foot building in Remington Development’s Discovery Business Park in Edmonton. The building – with 1.12 acres of fenced and paved storage space – at the intersection of Highway 2 and Highway 19 will be a new distribution center for FedEx.

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The successful transaction was initiated through Vesuwalla’s association with the Society of Industrial and Office Realtors. A global professional real estate association representing today’s most knowledgeable, experienced and successful real estate brokerage specialists, Vesuwalla was contacted by another member in Pittsburgh to discuss the needs of his client, FedEx, in the area. from Edmonton.

Former President of the Western Canada Chapter, Vesuwalla is one of less than a dozen members in Alberta who have been admitted to the society after a rigorous review of their experience conducted according to the highest professional and ethical standards. .

During his career, ClearView’s President and Broker has been involved in over a thousand sales and rental transactions totaling over $1 billion.

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Doug Johannson, who also had many years of experience in industrial real estate and land, joined his former colleague from Avison Young at ClearView in 2021.

Johannson has since sold a 15,500 square foot Tri-Mac building in the Golden Triangle industrial district near Peigan Trail in southeast Calgary, renewed the lease on the 32,000 square foot HBI facility at Portland Street Depot and sublet 10,000 square feet of that space to Eight Once Coffee.

Currently, he is helping develop a 40-acre parcel of land he sold on behalf of a client north of HeatherGlen Golf Course in Rocky View County. As development progresses, it will bring hard-to-find lots to market for small industrial users.

Another prime location he is currently marketing is a vacant 33-acre site in Balzac overlooking the south side of Highway 566.

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Vesuwalla’s Clearview industry fund was created with all of its Calgary-based investors except two in Toronto.

Last week he added the Champion Business Center to 401-403 33 rd Street NE, purchased from Hungerford Properties through Michael Golightly of Colliers International.

The 260,000 square foot building anchored by CDI College’s North Campus brings the fund’s current portfolio to 300,000 square feet, which includes a 35,000 square foot building in South Foothills that has been vacant for a year. Listed by Johannson, Sean Ferguson of Cushman Wakefield brought his glassmaker client to the property.

A long relationship with Garry Bobke, Senior Partner and President of NAI Advent, allowed Vesuwalla’s new development fund to invest in its first residential project in partnership with NAI Advent.

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The Mission 19 property is a 67-unit luxury apartment building, designed by Gravity Architect and built by Triumph Construction, in the trendy Mission neighborhood at 320 19 and Avenue SW which will be available for rent in the second quarter of 2023.

Both ClearView companies continue to grow at an aggressive rate, which means Vesuwalla is looking for a few more experienced agents to join him and Johannson.

Remarks:

• Spiros Pizza & Pasta served the “best pizza in town” on the corner of 17 and Avenue and 33 rd Street SW since 1969. This summer it will open its second location in Inglewood Crossing, the former Trail Appliance store at 9 and Avenue SE

• The Landstar development is leased by Fairfield Commercial Real Estate – broker Michael Kehoe says there is only one space left with 11 stores leased in the last 10 months.

David Parker appears regularly in the Herald. Read his columns online at calgaryherald.com/business. He can be reached at 403-830-4622 or by email at [email protected]

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