Recent additions to the firm, Associate Vice President Stephanie Turner and Advisor Brock Turner, are thrilled to announce their new New Brunswick and Prince Edward Island market offering, supported by The B & B Team, Inn Partners LLC, a full-service inn consultancy based in Brattleboro, Vermont.

This collaboration aims to support inn owners in Atlantic Canada looking to sell their properties by offering a comprehensive service package that includes valuation, marketing, negotiation, and deal closing.

Eben Viens, who has over 12 years of experience assisting inn owners, expressed his excitement about the collaboration. “Many inn and boutique hotel owners are looking for assistance with succession planning or an exit strategy,” he stated. “With Stephanie and Brock, we have a strong team in place to package these properties and find buyers.” This is especially timely as the boutique hotel market evolves, and inn owners seek guidance on navigating the selling process. Stephanie and Brock are dedicated to providing personalized support, understanding that selling an inn is often an emotional journey for owners.

The first mandate is underway, with the marketing of the renowned Shadow Lawn Inn in Rothesay, NB. This historic and highly regarded property is now available for sale.

For more information about Luxury Lodging Advisory Services, reach out to Stephanie or Brock.

For information on Shadow Lawn Inn click HERE

For those who have dreamed of owning hospitality related commercial real estate, there has never been a better time to turn that vision into reality. Why is that? Canadian travel destinations could see a boost from political uncertainty in the U.S. for several reasons:

1. Increased American Visitors – Political instability in the U.S. may lead to more Americans seeking a temporary escape, choosing Canada as a nearby, stable, and welcoming destination. The relative affordability of travel to Canada, especially with a favorable exchange rate, makes it even more attractive.
2. Safe & Stable Alternative – Canada is often perceived as a politically stable and peaceful country, making it an appealing choice for travelers who want to avoid potential unrest, protests, or policy shifts in the U.S.
3. Strengthened “Workation” & Remote Work Appeal – With remote work becoming more common, some Americans looking to distance themselves from political turbulence may choose to temporarily relocate to Canada’s scenic destinations while working remotely.
4. International Tourists Choosing Canada Over the U.S. – Some international travelers may reconsider U.S. trips due to visa issues, safety concerns, or changing policies. Canada, with its ease of entry and diverse tourism offerings, could become a preferred alternative.
5. Boost in Real Estate & Long-Term Stays – Not just short-term travelers, but some Americans may look at Canada for extended stays, second homes, or even eventual relocation, which could drive demand in tourism-related real estate assets. 

With increasing demand for peaceful, unique getaways, Canada offers incredible opportunities for aspiring innkeepers and entrepreneurs to create welcoming retreats in some of the country’s most beautiful locations. Whether it’s a coastal escape, a lakeside lodge, or a historic bed and breakfast, now is the time to step into the world of hospitality and offer travelers the relaxation and beauty they seek. Start your journey today by contacting us to explore opportunities in New Brunswick and Prince Edward Island’s thriving tourism landscape!

Parallels Between Growing Plants and Building a Commercial Real Estate Career

While sowing my plant seeds this morning it occurred to be that growing plants from seeds and a commercial real estate career share some interesting similarities, especially when it comes to patience, planning, and the need for nurturing over time.

1. Start with the right foundation: Just as seeds need to be planted in the right soil with appropriate care, in commercial real estate, your career often starts with learning the basics, building relationships, and selecting the right opportunities to pursue. A strong foundation is essential for long-term growth.

2. Patience and time: Plants take time to grow, sometimes months or even years, before they reach full potential. Similarly, a career in commercial real estate requires patience as you gain experience, build your portfolio, and see returns on your efforts.

3. Continuous nurturing: Just as you need to water and tend to plants regularly, in commercial real estate, your career requires consistent effort whether it’s researching markets, networking, or managing client relationships. Growth doesn’t happen overnight, but with regular attention, progress is made.

4. Adapting to the environment: Both plants and commercial real estate are affected by external conditions. A plant’s growth can be influenced by light, water, and temperature, while a commercial real estate career can be influenced by market trends, economic conditions, and changes in the industry. Adapting to these conditions is crucial to success.

5. Long-term vision: Just as a gardener plans for future harvests, someone in commercial real estate often needs a long-term vision to assist their clients, such as anticipating market changes or understanding how properties will evolve and gain value over time.

So, in both cases, success comes from laying the groundwork, staying patient, being adaptable, and continuously nurturing growth.

On August 14th, when Nobel REIT cut the price of 400 Main Street in Saint John in half from $6.2 million to $3.1 M, R2 Capital tied up the property. After 2 months of intensive due diligence, Brock Rogerson and his investors are now confident that they can turn the property around.

“We have big plans for Place 400 and expect to invest heavily in the property over the next two years addressing any deferred maintenance and working with tenants to build out beautiful, functional spaces.” Said Rogerson. The property is located with easy access to all areas of the city, offers free parking, nearby amenities and a quick walk via harbour passage to the newly redeveloped waterfront.

The sale is scheduled to close November 29th.

Are you interested in leasing space in Place 400? Call Stephanie Turner or Brock Turner to discuss our Tenant Representation services. There’s no cost to the tenant. Have a broker on your side to help you negotiate the best terms for your business!

Prude Inc Saint John previously operated at 165 Union Street but the location was no longer meeting their needs “We decided it was time to leave the Waterloo Village area in favour of a location that was professional and where our clients would feel safe and welcome accessing our services.” Explained Karen Hachey, president of the Board of Directors. 

“We had been looking for new office space for a few months and it was challenging, a decision to reach out for professional assistance led to the decision to engage Brock Turner to assist our team with the search. Brock took the time to understand our needs and then introduced us to the Waterside Suites at Market Square which we fell in love with.”

There is a lot of vacant office space in Saint John which can make finding new space overwhelming. It’s also advantageous to find space that has tenant improvements in place that can be reused. This helps keeps renovations to a minimum and in turn keeps rents reasonable. “Being a non-profit presents unique challenges in leasing space long term. Brock helped us negotiate lease terms that worked for our organization.” 

“We are excited to be part of the Saint John waterfront revitalization and look forward to welcoming newcomers, clients and community partners to our new facility soon”. 

PRUDE Inc focuses on education of both newcomers and Canadian-born individuals, youth, and communities. PRUDE Inc was incorporated in the City of Saint John, New Brunswick, in 1981. The organization is dedicated to the full participation of all cultural communities in the social, cultural, and economic fabric of mainstream New Brunswick life.    https://www.prudeinc.org

Brock Turner provided Tenant Representation services to PRUDE Inc 

Are you looking for new office space in Saint John? Contact Brock Turner today to discuss your needs. There is no cost to the tenant. We are compensated by the landlord when a lease is signed. 

Brock Turner, Commercial Real Estate Advisor
(506) 608-8747

Saint John, August 14th, 2024 – Nobel Real Estate Investment Trust (REIT), the owners of the iconic Place 400 at 400 Main Street, have been busy exploring the future of this landmark property. The 160,000 square foot building, situated on 3.2 acres of prime land, has been on the market for just over a year.

Originally, there was significant interest in converting the building into a residential development. However, after discussions with several developers and industry experts, it was determined that the conversion would be far more challenging and costly than initially anticipated. This conclusion aligns with a broader trend across Canada, where the conversion of vacant office buildings into residential spaces is proving to be a cost-prohibitive endeavor due to the substantial retrofitting required.

Given these insights, it was concluded that the highest and best use for the 3.2-acre site is to secure a buyer to demolish the existing structure and develop a brand-new high-rise residential development. Initial investigations indicate that with a rezoning to “High Rise Residential”, the site could accommodate up to 300 residential units. “Although further investigation is required, we picture three apartment towers to be built in phases” commented Stephanie Turner

The property’s strategic location at the gateway to uptown Saint John offers unparalleled access to the highway and all city areas. It is just steps away from the Harbour Passage walking trails and a short 15-minute walk to the uptown waterfront. The site promises stunning views of the Saint John harbour, visiting cruise ships, and the beautifully lit city skyline and Harbour Bridge at night.

To reflect the property’s potential as a premier development parcel, the asking price has been cut in half from $6.2 million to $3.1 million. This adjustment underscores the value of the land itself and offers a unique opportunity for developers to secure one of the last large development parcels close to the city’s core.

Interested parties are encouraged to contact us more information on this exceptional opportunity. The sale of Place 400 marks a pivotal moment in the continued growth and development of uptown Saint John and the north end of the city.

Stephanie Turner 
Senior Advisor
www.SJcommercialRE.com
C (506) 333-3442

The Hill real estate development family, based in Fredericton, is making a shift in their business focus. They have listed their portfolio of retail assets in Fredericton New Brunswick with the aim of channeling their resources and efforts into expanding residential offerings around their 400 acre golf course.

“Hill Brothers are first and foremost developers. The disposition of our retail assets is a strategic move to allow us to invest more heavily in the residential growth of our West Hills Golf Course. We are not in a rush to sell the retail portfolio. That said, given that the debt on the assets is at a preferential interest rate, we felt this would be a great time to bring it to market.”  ~ Darren Hill, Hill Bros Ltd

The retail portfolio comprises 80,000 square feet of retail/commercial space and a development-ready pad site. The properties are 100% leased to a solid mix of national, regional and local tenants including popular brands like Tim Hortons, Subway, and Pita Pit.

The commercial/retail strip malls are located at 1050 Douglas Avenue, 500-530 Brookside Drive, 1012 Prospect Street and all offer high visibility, efficient property management, and access to a robust local population from many Fredericton North and South Side neighbourhoods as well as and highway traffic. With easy access and drive-by exposure, this portfolio represents a strong investment opportunity. The assets are listed for $22,000,000.

Interested parties can contact:

Stephanie Turner

(506) 333-3442

sturner@cwatlantic.com

I’m visiting Calgary this week and meeting with clients. One thing that is evident in this market is “The flight to quality” is bringing about a major shift in the industry. There’s a collective desire to bring people back together for collaboration and innovation, driving the demand for flexible, amenity-rich quality workspaces.

Take The Ampersand in downtown Calgary for example… a class A complex featuring three 28 storey towers offering over 1.1 million square feet of space between them. Amenities include a conference centre, fitness centre, indoor food trucks, golf simulator, day care, dog patios and much more!

In a historically tight labor market, the competition to attract and retain top talent remains exceedingly fierce. Thus, companies are recognizing the importance of providing exceptional workplace environments to ensure they remain desirable destinations for skilled professionals.

When searching for new office space, tenants are often conflicted between their desire for shorter, more flexible lease terms that cater to uncertain workplace dynamics, and the availability of the spaces that meet their wants & needs. Quality office space requires capital investment but then inherently, the shorter the lease, the more expensive it is for the tenant. It’s about finding balance and working in partnership with landlord. The landlord/tenant relationship has long been mostly transactional, and at times even adversarial. Fortunately, I’m seeing it more and more become one of cooperation and partnership.

Do you want higher quality workspace for your team? Contact us today…

In today’s ever-evolving work environment, the focus is on creating spaces that prioritize both the well-being of occupants and the sustainability of our planet. Modern office design integrates wellness initiatives and sustainable practices to promote physical and mental health while minimizing environmental impact.

Emphasis on Wellness and Sustainability:

Employers understand the importance of fostering a healthy work environment. In response, office designs now incorporate features such as ergonomic furniture, ample natural lighting, green spaces, and even fitness facilities. These elements contribute to physical well-being and promote a positive atmosphere conducive to productivity and creativity. Sustainability is also at the forefront, with eco-friendly materials, energy-efficient systems, and waste reduction measures becoming standard practices. By aligning workspace design with wellness and sustainability principles, businesses are not only enhancing the experience for employees but also demonstrating their commitment to environmental responsibility.

Technology Integration:

Advancements in technology are revolutionizing how we interact with our workspaces. Smart offices equipped with high-tech devices, cloud-based collaboration tools, and digital platforms are enhancing productivity, connectivity, and efficiency. Automation, such as automated temperature control, and virtual meeting solutions streamline operations, making work processes smoother and more seamless. By integrating technology into office design, businesses are adapting to the digital age and providing employees with the tools they need to thrive in a modern work environment.

Hybrid Work Models:

The COVID-19 pandemic accelerated the adoption of hybrid work models, blending remote and in-office work arrangements. As businesses embrace this flexibility, office design is evolving to support a hybrid workforce. Agile workspaces featuring hot desks, collaboration zones, and virtual meeting rooms accommodate employees’ diverse work preferences while maintaining company culture and fostering collaboration. This shift towards hybrid work models reflects a recognition of the changing nature of work and the need for adaptable office spaces that can cater to different working styles and preferences.

Conclusion:

The future of workspaces is characterized by innovation, flexibility, and a commitment to meeting the evolving needs of businesses and employees. By prioritizing wellness and sustainability, integrating technology, and embracing hybrid work models, businesses are reimagining the way we work and creating environments that empower individuals and organizations to thrive. As we continue to adapt to a rapidly changing world, let us seize the opportunity to shape workspaces that inspire creativity, promote well-being, and contribute to a sustainable future.

Are you thinking of new office space? Contact us today…