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Calgary office penthouse for sale at nearly $5 million

Mario Toneguzzi, Calgary Herald 10.28.2014


CALGARY - A property for sale in the Beltline is a rarity when it comes to Calgary’s commercial real estate market.


Residential penthouse condo units are often listed for sale in the city’s downtown core or in nearby neighbourhoods.


But what you don’t often see is an office penthouse property available.


However, a 6,000-square-foot office space with unobstructed 360 degree views of the city is listed for sale at $4.85 million in The Montana residential condo highrise at 817 15th Ave. S.W.


Chris Zaharko, realtor with Royal LePage Foothills who listed the property, said the space on the 28th floor of the building is currently zoned for commercial use.


“It’s amazing seeing stuff up there,” he said.


“There’s a lot of uniqueness with something like this.”


The rest of The Montana consists of about 240 residential units.


The office space has floor-to-ceiling windows, six balconies and three elevators. It is currently set up with 14 offices, two separate boardrooms and a full working kitchen and eating area. It also includes 10 underground heated parking stalls and comes with a full-service concierge and fitness facility.


It has seven additional storage lockers and a 622-square-foot storage room above the penthouse.


Zaharko said the developer, real estate firm Procura, built The Montana and has occupied the penthouse office space.


“I can see maybe five, six oil guys that want to get together (and buy the penthouse),” said Zaharko. “Each have an office. Maybe have their secretaries in an office. Share the boardrooms. Private area things. Maybe a law firm takes it.”


Susan Thompson, business development manager of real estate for Calgary Economic Development, said it is rare to see a penthouse office suite, as part of a residential condo tower, for sale in the city.


“I’m certainly aware of office condos around Calgary, more common in the suburbs, but they do exist downtown. But typically they’re in the lower rise (buildings),” she said.


“This is unusual with it being primarily a residential tower . . . I’m curious to see what that’s going to be. Whether it ends up as an investment, an owner user. If somebody decides to make a live-work arrangement out of it.”


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