Between 2015 and 2017, Incite was engaged by Hokanson Capital to work in partnership with Colliers International and reposition a property on the corner of 99 Street and Jasper Avenue in downtown Edmonton after the departure of the property’s sole tenant (ATB Financial). Hokanson Capital was looking to better understand the Edmonton office space market and develop a strategic marketing plan to inform the renovation and re-leasing efforts, ultimately leading to a successful sale of the property.
Incite conducted a comprehensive market study to identify the ideal tenant profile and confirm the best market positioning strategy for the property. Incite then led the renaming and brand redevelopment for 9Triple8 Jasper as well as the outreach strategy to reintroduce the property to the market. Incite supported Colliers in securing deals with KRP Chartered Accountants, Associated Engineering, and Da Capo (now the property’s flagship retail tenant, Al Centro).
Offering convenient on-site amenities including underground parking, a state-of-the-art fitness centre, and ample retail space, 9Triple8 Jasper’s successful renovation, re-leasing, and sale made it one of Edmonton’s few commercial real estate success stories during a very difficult period in the commercial real estate market. The property was sold in 2017 at $342 per square foot, more than triple the rate achieved for other office tower sales over $10,000,000 during the same period.