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405 King William is SOLD

This high quality industrial building was built in 2004 by Bourque Industrial and was later sold in 2009 to E.S. Fox Limited.

Located in the Spruce Lake Industrial Park and listed for $2,995,000, the 26,000+ square foot building sits on 27 acres of land (7 acres fenced and secured) and boast impressive 54′ ceilings, 4 cranes and in-floor radiant heat. The end of the building features a 40′ x 60′ folding “hanger” style door.

Although E.S. Fox has not used the building for several years, the property has been leased to a variety of local businesses. Tenants such as Lorneville Mechanical, Irving Oil and MSI Marine have all occupied the building for project based work in recent years.

The closing occurred on December 18th, 2020

Stephanie Turner of Brunswick Brokers was the listing agent.

Innovation District key to building on our strengths

Building on Saint John’s strengths in energy, health, logistics and advanced manufacturing and spearheaded by EdgSJ, an impressive group of industry stakeholders have come together to launch the SAINT JOHN INNOVATION DISTRICT concept. The initiative already has two feathers in its cap… 1. the establishment of the UNBsj MBA program uptown and 2. the creation of BLOCK ONE, a start-up incubator which is now co-located with the MBA program. These two wins are just the beginning.

In the midst of a global pandemic, Atlantic Canada has been touted as a “safe” and affordable place to live. Digital nomads and new remote workers are no longer tied to the big urban centres. We are hearing more and more stories of people considering a move to Atlantic Canada. Those people may be asking what Saint John has to offer them. This 4 minute video showcases the spirit that Greater Saint John embodies and shows a path forward for growing “a vibrant, highly productive, more sustainable and inclusive economy that attracts talent from all over the world.”

VIDEO

 

Ami Tea coming soon!

73 King Street, Saint John

A new business is coming to 73 King Street. Located near the top of King Street between the National Bank and Vogue Optical, this small storefront is the perfect location for Ami Tea. Featuring Bubble tea and sandwiches, this chain has locations in Quebec and western Canada.

According to their website Ami Tea  “offers you a wide selection of milk teas, fresh teas, and fruity teas. Our bubble tea is not just a drink, it’s an experience that brings people of all different cultures and backgrounds from all over the world together. Ami Tea is a symbol of friendship. Drink bubble tea, have fun, enhance collaboration, and enjoy the delicious taste today!”

In speaking with the new tenant, they hope to be open before Christmas but if not, you will certainly see them in the new year!

Congratulations to the another entrepreneur willing to open a business in uptown Saint John in uncertain times!

Stephanie Turner of Brunswick Brokers represented the Landlord (The Gray Group) and Steve Ryan of Coldwell Banker represented the Tenant.

How will COVID-19 impact the work environment?

The pandemic has had a dramatic impact on the way we work. Many are still working from home and Zoom calls are the new meeting standard. Although we are learning to interact in this way, it’s a poor substitute for an in-person meeting. The conversation just doesn’t flow as well. That being said…most of us have gotten used to it and it has become the “new normal”. Are you sick of that expression yet?


Two recent articles published on the on-line Real Estate News Exchange talks about the Top-6 Ways the workplace is changing post-COVID-19. Their thoughts on this include:

  1. Communications technology will get better – and fast
  2. Employees will want to continue working from home, but only for part of the week
  3. The physical office will still have its place, albeit with a few modifications
  4. Buildings will focus more on health and wellness
  5. The workplace itself is likely to change dramatically
  6. Amenities within buildings will also likely change

One of the passages that really resonated with me related to office space use. The article said “Thirty years of workplace densification is likely to reverse course, to some degree.” and went on to say…

Today, most companies offer either a dedicated (assigned offices/workstations) or agile (unassigned seating) environment.

We may very well see the introduction of “semi-assigned” seating that will have small groups with compatible hybrid work schedules sharing private offices with colleagues with whom they are comfortable. This solution could be the balance of cost-efficiency and the productivity benefits of a dedicated, private workspace.

While there will be a greater demand for individual workspaces and potential shifts in workplace accommodation, the role of collaborative spaces in the office environment will not only stay intact but become more integral.

Read the entire two articles PART I and PART II

I know this is not an easy period we are weathering. Please use me as a resource for any questions or concerns you may have about the commercial real estate market. If/when you are ready to look at properties, please know that we have COVID protocols in place to keep you safe and for contract tracing should the need arise. In the meantime, ask about what we can do virtually!

SOLD: 90 Paradise Row

90 Paradise Row, Saint John, New Brunswick

SJ Energy closes on purchase. Plan to relocate Smythe Street substation. 

After over a year of searching and after considering at least 16 locations, SJ Energy has purchased 90 Paradise Row in Saint John, NB. The property consists of a commercial building with a gross leasable area of 8,934 square feet sitting on 0.42 acres. The property also includes surplus land of 0.89 acres. This surplus land has been identified as the site of a new SJ Energy substation which will replace the current facility located on Smythe Street by Harbour Passage.

Saint John Energy Looks To Move Uptown Substation

Artist rendering of new Paradise Row substation Photo courtesy of http://www.thewave.ca and the City of Saint John

According to a http://www.thewave.ca story which ran back in early August, the Smythe Street substation is at the end of its life. Dana Young, manager of asset management for Saint John Energy, said there are several reasons why they want to build the new substation elsewhere. “The Union substation is currently in a zone that’s at risk of flooding as sea levels continue to rise. 90 Paradise Row is at a higher elevation.”

The property required a rezoning for this use which took a little longer than planned due to COVID and the challenges in holding public hearings. Ultimately the re-zoning was approved and the sale closed at the end of August.

The Smythe Street substation sits on some pretty desirable waterfront real estate. While the substation was at the end of its useful life and at risk of flooding some day, it could also be argued that it was not the highest and best use of that land. Once the new Paradise Row substation is built, SJ Energy will start the process of decommissioning the Smythe Street facilities.

Stephanie Turner represented the purchaser (SJ Energy) in this commercial real estate transaction.


To read the entire story than ran back on August 5th, click the link below

Saint John Energy Looks To Move Uptown Substation

Who is Brunswick Brokers?

Some of you have seen the news that the Saint John & Moncton offices of Partners Global have rebranded. Back in 2015, just about the time I joined the brokerage, Brunswick Brokers Limited created an alliance with Halifax based Partners Global Corporate Real Estate. After a five year partnership, it was determined that it was time for each company to stand on it’s own again.

With the help of local company Bonfire, we developed a new logo which was the launching point for our whole new look. We hired a local in-house marketing resource, rolled out a new website www.bbrokers.ca, new email addresses and new signage. Otherwise, It’s business as usual in Saint John!

DON’T FORGET TO UPDATE MY EMAIL ADDRESS! It’s now sturner@bbrokers.ca and watch for our new signs out in the market now!

VIRTUAL TOUR – 855 Bayside

855 Bayside Drive, Saint John, New Brunswick
14,000+sq ft Industrial Warehouse available immediate for sub-lease or purchase. 

Tour properties from the comfort of your desk/home/favourite coffee shop!
More virtual tours coming soon…

CLICK IMAGE BELOW TO TOUR THE FACILTY

For more information on this property CLICK HERE.
Listed by Stephanie Turner. Phone: (506) 333-3442 or email: sturner@bbrokers.ca 

 

VIRTUAL TOUR – 50 Whitebone, Industrial Warehouse

New technology to help market our commercial listings. Features of tour include floorplan, 3D “dollhouse” with walk around capabilities and measurement tool all accessible from bottom left corner of the software.
Try it now! Click image below!

Screenshot (123)

For more info on this Listing Click here>>> 50 Whitebone Way, Saint John

Bank of Canada building SOLD

75 Prince William Street, Saint John, NB

Known as the Bank of Canada Building, the circa 1960’s office building with a mid-century vibe has sold. The property, strategically located at the epicenter of uptown Saint John’s business district, was acquired by an investor from Calgary Alberta. The property traded for $1,680,000

The Seller, Prince Williams Properties ULC, based in California, had owned the building for several years. Strong leasing activity in the building over the last 18 months meant that the building was almost fully occupied with a strong mix of tenants making the property more attractive to investors.

“I really appreciate the expertise and diligence of Stephanie Turner in securing the leases in a challenging environment and ultimately closing the sale on the property. It’s been a pleasure to work with her.” commented the seller.

In their own announcement earlier today, the buyer stated “At 34,500 sq ft and 12 units, it is the largest office building I have bought yet. But what is more impressive is the team of extremely competent pros that made this happen during the chaos of COVID19 over the past couple months.”

Although these are uncertain times, the property boasts tenants in industries such as law, tech and alternative energy which continue to perform well despite the pandemic.

Stephanie Turner was the Listing Agent and Milad Debly, Century 21 represented the Buyer.

NEW SEA Bird Suites – Millidgeville

819 Millidge Ave, Saint John, New Brunswick

Site of the former Mission Church (St John the Baptist & St Clement) 

Two signs have recently appeared at the corner of Millidge Avenue and Daniel Drive in Millidgeville. Work is now scheduled to begin on a $17-million multi-residential development called “SEA Bird Suites”.

According to the sign, the demolition of the existing church and rectory will start on March 23rd and is estimated to last approximately 10 days. Anyone interested in the development can contact Stephen: 647-3228


Stephanie Turner represented both the seller and the buyer on the 1.94 acre property acquisition.