CALGARY CO-OP ACQUIRES PROPERTY IN THE HEART OF MARDA LOOP

Seeks partner for new mixed-use development


February 13, 2020 Calgary, Alberta
– Calgary Co-operative Association Limited (“Calgary Co-op”) is acquiring an important commercial property site in the heart of the Marda Loop neighbourhood. “Marda Loop Village” is a 1.77-acre property at the corner of 33 Ave SW and 20 St SW – a focal point in one of Calgary’s most beloved communities. The vision for this site includes a new and exciting urbanized grocery experience and new residential, retail and commercial units, bringing opportunities to live, shop and work. Details of the purchase, expected to close end February 2020, are undisclosed.

“For Calgary Co-op’s food business to survive and thrive in the long term, our offering of products, services and experiences must be most relevant to our members’ lifestyles. When you look at the potential of this site, we see the opportunity to provide the community with a fresh take on grocery shopping and enhance community amenities, making this a strategic investment on behalf of our members,” said Damon Tanzola, Vice President, Facilities Development and Real Estate for Calgary Co-op.

Calgary Co-op looks forward to working with the community to tailor the Marda Loop project to the needs of this community of Calgarians. Work has begun to identify a collaborative development partner, with the goal of creating not just a marquee development, but one that aligns and supports the City of Calgary’s planning and development priorities and vision.

“We have an over-arching development and redevelopment strategy to better serve our Calgary area members and we are committed to completing important developments over the long –term, balancing diligent investment on behalf of our members with ensuring the best shopping experiences for our member-owned cooperative,” said Ken Keelor, CEO, Calgary Co-op.

Marda Loop Village is the third major acquisition for Calgary Co-op in the past two years. In 2018, Calgary Co-op purchased Chinook Park Plaza, a prime location immediately north of Chinook Centre, at the corner of Macleod Trail and 58 Ave SW. In 2019 Calgary Co-op acquired the retail business (and three corresponding real estate assets) of Community Natural Foods, a local Calgary whole health lifestyle retailer.

Calgary Co-op’s plan also includes opening a new food store later this year in the Sage Hill community, after the recent opening of a new gas station and liquor store at that site. It also includes planned redevelopments at key sites including North Hill, Oakridge and Dalhousie. Prudently, in light of the difficult economic climate and the aggressive competitive conditions, timelines and details of these projects are under review.

About Calgary Co-op
Owned by members, Calgary Co-op is one of the largest retail co-operatives in North America. Our locations in Calgary, Airdrie, Cochrane, High River, Okotoks and Strathmore include: food centres, pharmacies, gas stations, car washes, commercial cardlocks, home health care centres, wine, spirits and beer locations, and cannabis. We also own and operate Community Natural Foods. With over 400,000 members, 3,850 employees, assets of $627 million and annual sales of $1.3 billion, Calgary Co-op was recognized as one of Alberta's Top 75 Employers of 2019, and is committed to delivering an exceptional customer experience through inspired team members. For more information please visit www.calgarycoop.com

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Media Contact
Sage Pullen McIntosh
Manager, Communications
Calgary Co-operative Association Limited
403-219-6025, ext. 6105
SPullenMcIntosh@calgarycoop.com