News of the impending demolition of their longtime facility proved to be anything but music to the ears of the administrators of the Chinook School of Music, which forced them to scramble to find a new home.
Without a new space for the school, dozens of gifted young students would be forced to set aside their dreams of mastering the skills needed to play the guitar, ukulele, piano and other musical instruments.
The school tapped Ryan Boyne of Barclay Street Real Estate Ltd. to lead the hunt in a high-pressure quest that began in October. Such searches typically drag on for months but Boyne managed to tour 10 properties with school administrators in short order, leading the school to sign a lease to relocate the school to OPUS Corp.'s Macleod Professional Centre at 3916 Macleod Trail SE just before the end of the year.
About the lease: The sound of violins and guitars being played by Chinook School students have been ringing out on the top floor of the Macleod Professional Centre since Feb. 28. The new premises are a major upgrade for the school, as its previous premises in the Marda Loop area of Calgary was subject to traffic snarls and had less available parking.
The rapid speed of the relocation search earned the deal a 2025 CoStar Impact Award for lease of the year for Calgary, as judged by a panel of local real estate professionals knowledgeable of the Calgary market.
What the judges said: "Music schools are not a regular tenant in office complexes, but this tenant will bring many people to the building, which will benefit retailers in the building and help to revive the surrounding area,” said David Wallach, president and broker, Barclay Street Real Estate.
"By assisting a community-based organization to find suitable space under a tight timeline, Ryan successfully found a location with improved access, ample parking, and unique features, including naming rights, which provided a significant boost for the music school," added Gabriel Millard, managing partner, equity capital markets, Avenue Living.
"The focus was on supporting the local arts community and providing accessible and attractive learning space for a well-known local business made this deal very impactful,” said Tracy Taylor, executive managing director and managing principal, Cushman & Wakefield.
"The alternative use of the music school in an office building showed a meaningful pivot by the landlord to create value in the premises,” said Michael Anderson, senior vice president, leasing and development, Centron Group.
They made it happen: Krishna Chavda, leasing manager at OPUS Corp., and Ryan Boyne, associate at Barclay Street Real Estate Ltd.