Fifth and Third is located in the center of the downtown core in Calgary with frontage on 5th Avenue South West and 3rd Street South West. Fifth Avenue South West is the main eastbound route through the downtown core. The property is an eighteen storey office building with more than 142,000 square feet of rentable area. The building is situated on a 0.32 acre (13,983 square foot) corner rectangular site and is located in close proximity to Calgary's premier commercial buildings, positioned to take full advantage of the city's downtown elevated Plus 15 walkway system with existing bridges connected to Centrium Place and the 333 Fifth building. Calgary's rapid transit system is located two blocks from the site. There are two levels of underground heated parking with 48 stalls, including bike racks. The building was constructed in 1978 with the most recent cosmetic improvements made to the building’s exterior in 2005 as well as a lobby upgrade in 2011. In 2019 the Plus 15 and the second floor common boardroom were upgraded.