11311 – 120 Street Edmonton, Alberta
Acquired in: 2005
70,000 total sq/ft
3.37 acres of land
Located in the heart of Hudson’s Bay Reserve area and near the fringe of downtown Edmonton, this 70,000 square foot building is situated on 3.37 acres, encompassing a whole city block. Features include 13,000 square feet of premium office space, natural lighting in the warehouse with dock and grade loading.
The tenant, Northern Alberta Institue of Technology (NAIT) has occupied the building for over 30 years. The building continues to serve NAIT with offices, avionics class space, equipment maintenance and warehousing. Imperial was fortunate to acquire a great building in the heart of Edmonton that will serve NAIT for many years to come.
This type of property will continue to generate income for our Company but more importantly it has great future redevelopment potential. Imperial will continue to bank land in the city centre airport area. The area serves as an excellent location for distribution for a light industrial tenant.
Meet the Tenant
The Northern Alberta Institute of Technology (NAIT) – is a leader in Canadian technical education. As Alberta’s non-university post-secondary institute, NAIT provides full-time and part-time career education programs which focus primarily on technical training in business, health sciences, information management and communications, engineering technologies, industrial technologies, and a wide variety of trades. NAIT offers more than 170 programs leading to one-year certificates, two-year diplomas, four-year applied degrees or apprenticeship certification as well as over 1200 Continuing Education courses.
With an annual budget of over $370 million NAIT’s financial impact creates a ripple effect throughout the province, creating jobs and opportunities. In the final analysis, the economic impact NAIT exerts on the economy of Edmonton alone approaches $1.7 billion annually.
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