The M-Trac Lofts is a professional building located on the edge of Edmonton’s Brewery District and Queen Mary Park. The building was originally constructed in 1952, and was bought by Interscape Interior Design and fully renovated to modern standards in 2009 including a state of the art HVAC system, a sprinkler system throughout the building, updated common areas and security systems, and various impressive building features. Since then, the property has primarily been used as a residential building, with the ground floor sold to various retail and office users. For the first time, the second and third floor units are offered for sale to office and professional users. M-Trac Lofts is an office condo building, and the reserve fund and condo document have been meticulously maintained. The zoning is appropriate for most professional office, medical, and business support uses. See land uses here!
The property’s location is ideal for professional and office users who want to be close to the downtown core, but in a safer, more walkable area with attractive local amenities. This asset is competitively priced and is less expensive than newer construction with undeveloped interiors. The interiors here have flexibility in layout, with various sizes available (see page 6).
Advantages to Ownership
Purchasing real estate creates an opportunity for the growth of equity and personal wealth. Rather than putting money into your landlord’s pocket, your equity grows and it becomes your asset. Owning real estate acts as a hedge to inflation, and secures the preservation of wealth in real property, rather than in the stock market, or other volatile investment channels. There are benefits to growing equity including increased cash flow, appreciation, tax benefits, and leverage. Real estate remains one of the primary ways for creating wealth, second only to owning a business.
Process and Due Diligence
In efforts to expedite and simplify the process, the landlord has prepared a phase 1 environmental report for the building that will be provided to prospective purchasers upon a conditional offer being accepted. Our team has reached out to various lending institutions and brokers to determine the financial requirements for potential buyers. We look forward to discussing the real estate purchase process in greater detail.