Enright Capital has acquired a 271,000-square-foot class B office building in downtown Calgary from Cadillac Fairview, with plans to upgrade the property.

The 26-storey tower sits at 635 8th Avenue S.W.

Enright Principal Patrick McFetridge announced the acquisition in a LinkedIn post, sharing the local company’s vision for modernizing the property.

“Upgrades to this building will includes a new gym, conference centre and tenant lounge,“ wrote McFetridge.

Enright is looking to capitalize on the tower’s connection to the Plus-15 skywalk system, which links the building to numerous amenities in Eighth Avenue Place, Bankers Hall and the CORE shopping centre. The local investment and development company also stands to gain from the building’s proximity to a C-Train station on nearby 7th Avenue S.W..

Financial terms were not disclosed.

According to a published report, the building was constructed in 1983. And, Cadillac Fairview had previously voiced plans to sell the property, along with the nearby 29-storey Encor Place office tower. Toronto-based Cadillace Fairview sold Encor Place in May for $21.5 million to Calgary-based unitiiPM, the report stated.

Photo: Cadillac Fairview