We takes pride in serving the commercial real estate needs of Prince Edward Island based businesses. Our most recently brokered transaction involves the property at 503 University Avenue in Charlottetown. The property has served as the campus for Maritime Christian College for almost three decades. In 2019 the college started a move towards more online learning for its undergraduate and certificate programs, and when the pandemic hit in 2020, the college was able to accelerate its online learning efforts to serve 100% of students in a high-quality online learning environment. The new model worked well and the college was able to expand the number of students it was serving. In early 2022, the Board of Directors for Maritime Christian College decided to reposition the assets of the college by selling the property in Charlottetown. The college engaged us to find them a buyer for the property. The 24,000 square foot building which currently houses the college’s admin offices, classrooms and dorm rooms sits on 3.42 acres of land located directly opposite the entrance to the University of Prince Edward Island. 

Long standing, Charlottetown based company, The Gray Group recognized the potential for residential development for this location and seized the opportunity to acquire the property. With the current rental housing demand they believe redeveloping the property at 503 University Avenue into multifamily, residential dwellings will be the most beneficial use to the community. According to The Gray Group’s President, Trevor MacLeod, “We will be taking considerable time to work with our planners to ensure that a high level of quality and sustainability is met.”

Residential development in the greater Charlottetown area has seen a spike in recent years due to an aging population and a lack of quality, multifamily rental options available. Developers have had considerable success in pre-leasing ahead of building completions, pointing to the high demand for rental units.

“The sale of the physical asset at 503 University Avenue is not one that the college undertook without a lot of deliberation. We decided that our future work in fulfilling our mission is more aligned with a focused online learning environment than in maintaining physical assets.” said Richard Jones, Chief Operating Officer of Maritime Christian College. He went on to say that the college has continued to expand its ability to serve students from around the world with a high-quality online learning experience that is available anywhere, anytime. Based on demand from its partners in other countries, Maritime Christian College has even added a graduate-level degree in 2023.

The College’s administration offices will be relocating to office space at the Sherwood Christian Church at 9 Lilac Avenue in Charlottetown. 

Stephanie Turner represented the seller Maritime Christian College 

We are very happy to announce that we were instrumental in securing a buyer for a 16.56 acre parcel of land off Nason Road in the Silver Falls area of Saint John. The land is currently zoned Future Development and is adjacent to an established multi-unit residential development including Michael Crescent and Martha Drive. This area is popular with renters due to its proximity to retail, restaurants and services. The Land which was owned by the Silver Falls Park Development Company Limited was sold by the estate of the late Harold and Ruth McNamara and purchased by local developers. 

This is the second parcel that we have sold for this vendor. In October of last year, another company purchased a 12.5+ acre parcel of land located near the corner of Commerce Drive and Loch Lomond Road in Saint John, NB. That property is zoned Business Park and the buyers of that land announced plans for a commercial development.   

Stephanie Turner represented the seller Silver Falls Park Development Company Limited

We are pleased to announce the leasing of space at 555 Somerset Street in Saint John, New Brunswick.  The new tenant, BeaconOrtho Ltd specializes in the provision and fitting of prosthetic limbs. Beacon Ortho’s new location will include a best-in class production facility including 3D printing equipment allowing them to design custom prosthetics for clients from all over New Brunswick.

“This location is ideal for us and we have synergies with other medical tenants in the building. We wanted a location that is well located and also accessible for people with disabilities. The property offers things such as curb cutouts and automatic door openers for people with accessibility needs.”

555 Somerset Street is a two-story suburban office building located in the north end of Saint John. Although the building is occupied by a variety of tenants, many of the tenants are doctors and other medical specialists. The Landlord, Somerset Investments Limited owns 555 Somerset and are also the developers of the new high-rise apartment building currently under construction on nearby Technology Drive.

Stephanie Turner & Brock Turner were the listing agents and Jonathon Rasenburg of Coldwell Banker brought the Tenant.

Interested in space at 555 Somerset? Unit 110 is also available. Details HERE

COVID has had some unexpected and positive lasting effects on how we go about daily lives. When it comes to commercial real estate, the obvious one is the new hybrid work model. This new model results in office occupiers often being able to operate the same business with less office space. This new trend means landlords are taking back more space than ever when leases expire. We are also seeing more tenants, who are tied to leases, listing their space for sub-lease. This results in some advantages to tenants who are shopping for new office space.

1. The vacancy rate is high which means landlords are often sharpening their pencils to attract tenants to their vacant spaces.
2. Tenants are comparing market rents being advertised by landlords with sub-lease opportunities which are often discounted or, at least, very negotiable.
3. Tenants have the opportunity to align their physical footprint to their current and future requirements.
4. If downsizing, tenants can save on their monthly overhead or upgrade the quality of their space for the same rent resulting in space that is nicer, smarter or both!

The first step in right-sizing your office is to determine how your current office space is working for you. Once you understand your needs you may realize you need to shrink your space, move or lock the doors and turn off the lights. “Lock the doors and turn off the lights” might seems like a drastic move but if you don’t need the space and can successfully sub-let it, you may be able to drastically cut your losses. If you are tied to a lease but your space is no longer working for you, sub-letting your space is an option. Some landlords, in order to attract you to their building, may even make it attractive for you to move mid-lease.

All this to say… If you have too much space or are in the wrong space, call us to discuss your options.

We are pleased to announce that 384 Lancaster Avenue, Saint John has been sold again. The property is located in west Saint John not far from Reversing Falls Bridge and features a 25,000+/- sq ft commercial building on 1.91 acres of land.  Unfortunately, it’s too soon to announce publicly what the new owner’s plans are.

This is the second time this property has traded hands in the past 4 years. It sold previously in 2018 when T4G Limited struck a deal with Nuuvera Inc. As part of the acquisition, Nuuvera had successfully rezoned the property to allow it to be used as a laboratory for the testing and production of medicinal cannabis oils. The property was never used for cannabis processing and in late 2021, the owners determined that the property was no longer required by their company and listed it for sale.

Stephanie Turner was the Listing Agent  

Did you miss out on this opportunity? Call us today to discuss other properties for sale in the Greater Saint John area.

400 MAIN STREET Suite 2080 (PLACE 400)

Up to 10,891 square feet for sub-let with free parking. Space is nicely finished and move-in ready. Large open area, offices, meeting rooms, boardrooms, kitchen and more. Possession in as little as 30 days. Accessible from parking lot via 3 banks of elevators. Head-lease expires December 31st, 2025. Longer term lease may also be available if required. Free paved surface parking.

Sub-lease rates as is starting at $17.00/sq ft GROSS for fully furnished turn-key office space!

CLICK HERE for all the details including floorplan

CLICK BELOW TO VIEW SLIDESHOW OF INTERIOR IMAGES

340 King William Road, Saint John, NB

The warehouse located at the corner of King William and Water Tower Road in the Spruce Lake Industrial Park was leased up in a matter of days after hitting the market. Further evidence that there is a limited amount of warehouse space available in the greater Saint John area that offers the high ceilings and dock loading that warehouse occupiers are often looking for. The 10,480 square foot warehouse saw significant upgrades completed by the previous tenant including upgraded electrical, renovated office space and fully fenced yard. The property will continue to be used for warehousing and distribution. This sector is seeing significant growth in the region due in large part to the success of the Port of Saint John. The Port’s multimillion-dollar expansion was predicted to have a major boost on the region’s economy and we are starting to see this in the market. Experts estimate that the port expansion will increase the region’s GDP by an estimated $300 million to $1 billion and it’s not only Saint John that will benefit! According to Herb Emery, Vaughan Chair in Regional Economics at the University of New Brunswick One, the impact could be as much as six times greater outside of our region.

The property was co-listed for LEASE with Stephanie Turner & Brock Turner

Are you looking for warehouse space in Saint John? contact us today

Stephanie Turner (506) 333-3442
Brock Turner        (506) 608-8747

I developed alopecia areata in 2015. AA is an autoimmune disease which causes patchy baldness. It’s not clear what triggers the condition in some people but once it’s triggered, it’s virtually impossible to un-trigger. There’s no safe effective treatment.

When I first developed AA, I started wearing a wig to hide it. People affected by AA and other forms of alopecia can go through a rollercoaster of emotions such as denial, sadness, anger, acceptance and (at least for me) even gratitude. Gratitude that it only affects my hair and that I can still do all the things I enjoy like working, riding my bike, hiking a trail and climbing a mountain.

Even after I accepted my condition, in an effort to feel “normal”, I continued to wear a wig to work. I treated it like an accessory… like a pretty scarf, jewelry or make-up.  I had nice wigs and I think most people didn’t realize I was wearing a prosthetic but I still had mixed emotions. The choice to wear a wig is complicated by our society that puts a great emphasis on physical appearances. 

During a recent multi-day wilderness hike in Maine, I came to the realization that hiding my condition is just not important to me anymore! I feel comfortable with my shaved head and it’s the right decision for me now. 

September is Alopecia Awareness Month

It was listed for lease but we sold it instead!

We would like to announce that they brokered a sale of 799 Bayside Drive. The 34,560 warehouse which sits on 4.5 acres of land was listed with us for lease but a buyer came along and we were able to put a deal together for our client G.L. C Realty Ltd. The buyer had been searching in the market for warehouse space and this property checked their boxes. The building has 4 dock level doors and 1 grade level door. 799 Bayside Drive is located in the Grandview Industrial Park in close proximity to the Irving Oil refinery and various other industrial occupiers.

Stephanie Turner represented the G.L.C Realty (Seller) and Bertin Hache of CBRE Moncton brought the buyer.