Saint John Commercial Real Estate

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Introhive leases space at Bank of Canada Building

75 Prince William Street, Saint John, NB

When Introhive first arrived in Saint John they needed office space quickly which allowed for flexibility while they ramped up their presence in Saint John. Connexion Works provides an ideal short term solution. Once they got a better handle on their growth strategy for this market it became evident that they would need to find a larger and more permanent solution. A search of the local vacant office space uncovered a space that seemed ideal. The space was formerly occupied by DFS Architects and had been completely renovated only 4 years ago. It has a cool modern vibe and a great view of the harbour! Introhive only needed to make a few minor changes to the space to make it perfect for them.

LEASING PHOTOS: Partners Global Corporate Real Estate

Introhive is a relationship data science platform for #CRM that drives user adoption and proactively delivers valuable insights about clients and prospects. They now have 16 employees in Saint John. Jerry Carr, Introhive’s CTO commented “We are continuously recruiting and having an awesome office space is a key part of attracting top talent.”

Stephanie Turner, Partners Global Corporate Real Estate, represented Introhive as well as DFS Architects and the head-landlord Prince Williams Property ULC in this leasing transaction.

The Bank of Canada building is also FOR SALE. For more info on this investment opportunity CLICK HERE

SOLD – 60 Enterprise Drive, Quispamsis

sold imageA 6,600 square foot industrial building sitting on 2.18 acres of land and located in the Hammond River Industrial Park has been sold. The vendor was Price Waterhouse Coopers Limited as Private Receiver of 670558 NB Ltd. The property had garnered a fair amount of interest while listed particularly towards the end of 2018 when multiple offers came in. The successfully buyer is a local company and will be issuing a press release soon. Rumour has it that the building nearby, formerly occupied by Select Kitchen, also traded recently. This is great news for the town of Quispamsis’ Hammond River Industrial Park as it continues to attract investment and diversify it’s business base.

Stephanie Turner, Partners Global Corporate Real Estate represented the seller and Noreen Russell, Royal LePage Atlantic represented the buyer.

E.S. Fox Building Lease Signed

405 King William Road, Saint John

A 24,000+ sq ft industrial building located in the Spruce Lake Industrial Park owned by E.S. Fox has been leased on a short term basis (9-15 months) to a large industrial occupier as swing space to accommodate a refurbishment at the Tenant’s permanent facility. This comes directly on the heals of two earlier short terms leases.

The building was originally built for large component manufacturing and is pretty unique in the market. The ceilings are over 50 feet high and one end of the building opens up like an airplane hanger. The building sits on 27 acres of land in the Spruce Lake Industrial Park and is located in close proximity to the new barge terminal.

There are many reasons why a business may have short term requirements such as contract fulfillment, temporary storage or swing space. Although finding a long term tenant or buyer for the facility is preferred, E.S. Fox is pleased to have found multiple opportunities to lease the space to local businesses requiring short term facilities.

 

The building remains listed FOR SALE and FOR LEASE to long term tenants when the current short term lease expires.

CBC radio interview re: 91 King & 22 King new owners

Did a 5 minutes interview with Rachel Cave this morning regarding the new owners of 22 King and the old Woolworth building. Did you miss it?

Listen HERE >>> https://www.cbc.ca/listen/shows/information-morning-saint-john/segment/15638796

91 King – View from Charlotte Street

SOLD – 1655 Manawagonish Road

1655 Manawagonish Road, Saint John, NB

Many passers-by believed this brick building was a church due to the signage out front which read “Convention of Atlantic Baptist Churches” but it was purpose built in 1981 as a two story office building. After several years on the market, the property was sold late last week. The property was sold to Unifor and new owners plan to continue to use it as an office building.

Stephanie Turner, Partners Global, represented the Seller and Mike Hosford, Colliers Moncton, represented the Buyer.

75 Prince William LOCATION LOCATION LOCATION

The old adage that location is key still hold true. With the recent announcement of the new museum on the Saint John waterfront, 75 Prince William Street has it in spades.

According to the CBC story “The “landmark” four-storey, 120,000 square foot building [museum] is intended to present a glass and terra cotta front on two sides facing the harbour and Market Square, and a more traditional look toward the uptown.”

The story goes on to say “The museum is intended to be the first piece for the long anticipated Fundy Quay development, which could someday include residential and commercial projects on the waterfront next to Market Square.”

Check out the aerial view of the immediate area below and find out more about the opportunity at 75 PRINCE WILLIAM STREET

 

SOLD – 384 Lancaster Avenue

Pure Nature’s Wellness Inc.,  a wholly owned subsidiary of Aphria Inc., has finalized the purchase of 384 Lancaster Ave in west Saint John. The property will be used in the future as a laboratory for the testing and production of medicinal cannabis oils.   In a recent CBC story, Ian Scott, Aphria’s Product Development Officer, said “This facility will be staffed with chemists, scientists, laboratory technicians, research and development experts as well as all the required process and packaging support staff.”

In order to allow for the use, the property was successfully rezoned to “Business Park Commercial” with the added condition the property is not to be used in future for anything other than a cannabis processing facility. Rick Turner of Hughes Surveys in Saint John assisted Aphria with the logistics of the re-zoning application and public consultation to address any local concerns.

Early on, the Province of New Brunswick recognized this relatively new and fast growing industry as an opportunity for our province and have been proactive in their efforts to attract cannabis related businesses to NB. Steve Milbury of Opportunities New Brunswick, the province’s economic development agency, was involved in attracting Aphria to our province and helped support Aphria in their efforts to get the Lancaster property re-zoned for their use.

Stephanie Turner, Partners Global, represented both the Sellers and Buyers in this commercial real estate transaction.