Armco Capital Announces Acquisition of Stephen Avenue Place and Adjacent Historic Kraft & Venator Buildings in Downtown Calgary
CALGARY, AB, April 24, 2026 /CNW/ - G2S2 Capital Inc., under its banner Armco Alberta, is proud to announce the acquisition of Stephen Avenue Place along with the adjacent Kraft and Venator Buildings, further strengthening its presence in the heart of downtown Calgary and reinforcing its long-term commitment to investing in high quality real estate assets.
This landmark transaction brings together a prominent Class A office tower and a rare collection of contiguous high-street retail properties on Stephen Avenue, Calgary's most recognized pedestrian corridor, further consolidating Armco Alberta's footprint across a strategically significant downtown block.
A Landmark Office Tower in Calgary's Financial Core
Stephen Avenue Place is a 40-storey, Class A office tower comprising approximately 613,000 square feet of office and retail space. Prominently located in the Financial Core, the property offers efficient floorplates, institutional-quality construction, and a fully integrated connection to Calgary's +15 pedestrian network and LRT system.
The building includes a recently redeveloped retail podium of over 100,000 square feet, offering best-in-class dining, retail, and amenity space. Tenants benefit from a modern workplace environment supported by a fitness facility, premium conference centre, tenant lounge, and games room. The asset is anchored by a diversified roster of national and international tenants, reinforcing its position as a resilient downtown office destination.
Historic Retail Frontage on Stephen Avenue
Complementing the tower acquisition, Armco Alberta has also acquired the Kraft and Venator Buildings, two adjoining historic retail assets totaling approximately 33,566 square feet.
Situated directly on Stephen Avenue, these early 20th-century buildings contribute a distinctive architectural character to the corridor, offering retail at grade with upper-floor office space. Their frontage, visibility, and pedestrian exposure provide a rare positioning within a tightly held urban retail environment, supported by consistent foot traffic and adjacency to surrounding office, hospitality, and entertainment uses.
Strategic Expansion in Calgary's Premier Corridor
The acquisition represents a deliberate expansion of Armco Alberta's long-term strategy to build scale and connectivity within Calgary's most important urban corridor. By integrating Stephen Avenue Place with the Kraft and Venator Buildings, the company strengthens its ability to activate a continuous, high-quality mixed-use environment across office, retail, and experiential uses.
The transaction also enhances Armco Alberta's broader downtown Calgary portfolio, which includes First Tower, Altius Centre, First Canadian Centre, and Bow Valley Square. Collectively, these assets represent approximately 4 million square feet of mixed retail and office space, contributing to a significant concentration of downtown Calgary office holdings.
The addition of Stephen Avenue Place further increases scale while the Kraft and Venator Buildings provide critical street-level activation along Stephen Avenue, reinforcing the corridor's role as a vibrant commercial and cultural destination.
Speaking on the acquisition, Steven Darrow, President, Atlantic Canada & Alberta, said the transaction reflects continued conviction in Calgary's downtown office market and the long-term strength of key urban corridors.
"This acquisition expands our presence in Calgary's Financial Core and strengthens our position along Stephen Avenue," said Steven Darrow. "By bringing together institutional office scale with heritage retail frontage, we are enhancing a connected downtown platform that supports long-term tenant demand and sustained value creation. These assets complement our broader portfolio and reflect our continued focus on investing in locations with enduring relevance, strong connectivity, and long-term value creation potential."
Commitment to Long-Term Value and Return to Office
As Armco Alberta integrates these assets, the company remains focused on enhancing tenant experience, improving retail activation, and supporting the return to office across Calgary's downtown office market.
Ongoing public and private investment along Stephen Avenue, including infrastructure upgrades and cultural programming, continues to strengthen the corridor's role as a vibrant mixed-use destination. This acquisition aligns with that trajectory, reinforcing a more connected and active downtown environment.
This acquisition aligns with Armco Capital's strategy of acquiring high-quality, well-located office and retail assets in markets with strong long-term fundamentals and urban intensification potential.
About G2S2 Capital Inc.
G2S2 Capital Inc. is a privately held investment holding company focused on creating value across a variety of businesses with a long-term horizon. Armco Capital Inc. and Armco Alberta are wholly owned subsidiaries of G2S2 Capital Inc.
About Armco Capital Inc.
Founded in 1982 by the Armoyan family, Armco Capital Inc. has evolved from a small family business into a diversified and dynamic group of companies. Recognized as one of Canada's 50 Best Managed Companies for eight consecutive years, Armco Capital Inc. is among the largest organizations of its kind. With a diverse portfolio across North America, the company is committed to long-term value creation through strategic investments and sustainable growth.
SOURCE G2S2 Capital Inc.
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