Cox Electronics, with locations in Saint John, Fredericton and St. Stephen, have announced that the stores will be closing at the end of 2016. After more than 40 years in the consumer electronics business, the owner, Philip Brewer has decided to retire. “Although it is time for me to enter a new phase of my life, there’s tremendous value in our bricks & mortar which means a fabulous opportunity for other retailers who are looking to enter and/or expand in these markets”, says Brewer. Although the buildings have been used for retail in the past they are located in prime commercial areas and could also be repurposed for other commercial uses such as medical clinics, hospitality, administrative offices, entertainment type businesses, etc…
Subject properties include Cox’s unique sky blue triangular flagship store located at 843 Fairville Boulevard a.k.a “The Golden Mile” in west Saint John. The building boasts over 30,000 square feet and sits on 2.06 acres of land. Well-situated on a high profile site just 6 km from the downtown core.
The Fredericton property is centrally located at 254 Main Street on the north side of the city. Situated on one of Fredericton’s major commercial artery, across from Shoppers Drug Mart and adjacent to Home Hardware and Tim Hortons. The building is 8,828 square feet and sits on an acre.
The Charlotte county store is located at 224 Route 170 in Oak Bay just outside St Stephen. Set on a highway commercial strip, the property is surrounded by a number of commercial enterprises and a residential development. The store is 6,608 square foot of large format retail sitting on 6.74 acres of land.
Stephanie Turner of Partners Global has the properties listed for sale. Appraisals on file for qualified buyers.
LISTING INFORMATION LINKS BELOW
254 Main Street, Fredericton (co-listed with Jim Yerxa – Partners Global Fredericton)