One Magazine Street, Saint John, NB also known as “The Jacquelin Premises,” has been sold to Maritime Medical 1 Ltd. The three-story brick building, nestled in the north end of Saint John and boasting picturesque views of the harbour and Fort LaTour, is a stunning example of newer construction that is in keeping with the rich architectural history of Saint John.  

Constructed in 2004 by AGSD Investments Ltd, under the ownership of Dr. Andrea Garland, One Magazine Street is a symbol of great design and quality construction. The building, which features a distinctive rounded corner, has been meticulously maintained and has garnered praise for its timeless design. The Jacquelin Premises, at the time of sale, was fully occupied with a diverse range of tenants, many of which are medical professionals.

The building was named for two people, Françoise Marie Jacquelin, a historical figure of the area who defended Fort LaTour and the seller’s mother, Jacqueline Bannister Garland. According to Dr. Andrea Garland “She was an independent hard-working woman who recognized and fought for equal rights, equal pay among other important things such as spousal rights. She was intelligent, broad minded, kind and welcoming.”

Maritime Medical 1 Ltd, a newly formed company, purchased the building and expressed enthusiasm for the acquisition, highlighting their commitment to maintaining the building’s integrity while exploring ways to enhance its offerings.

Stephanie Turner and Brock Turner represented the Seller and Jonathon Rasenberg of Coldwell Banker Select Realty represented the Buyer.

Did you miss out on this opportunity? Check out 90 Paradise Row which just listed nearby

Interested in more about the history of Francoise Marie Jacquelin read that HERE

44 Chipman Hill, Saint John, NB

We are pleased to announce the successful sub-leasing of 6,123 square feet of office space in suite 310 at 44 Chipman Hill “Brunswick House”  in Saint John, New Brunswick. If you have ever taken the elevators on the 3rd floor of Brunswick House, you may have noticed the eye-catching office suite at the end of the hall.  Mariner Partners had been on the hunt for new space and quickly snapped this up when it hit the market. They relocated their offices from the Brunswick Square office tower late last year. “We are loving our new space! It has a fresh, modern vibe and is just the size we need.” 

The office leasing market had been fairly quiet through the pandemic. That said, we are seeing demand for office space pick up as companies are coming to understand their short to medium term needs as it relates to the leasing of space. We think the hybrid work model is here to stay which means office tenants will be looking for more opportunities for desk sharing/hoteling, as well as more spaces for collaboration and meetings. The aesthetics of the space is more important than ever. Employers want to see employees in the office and offering a beautiful & functional work space is one strategy to entice workers back in to the office.

Stephanie Turner and Brock Turner represented Canada Life on the sub-lease.

Are you in the market for new office space? Reach out today to explore the opportunities.

NGH PROFESSIONAL CORPORATION – EYEDENTITY MEDICAL GROUP has leased space at 133 Prince William Street for a new doctor’s office specializing in ophthalmology.  “Having this uptown location should work very well for us and we look forward to welcoming our patients to the new clinic starting in February, 2024″ said Dr. Georges Hanna. 

133 Prince William Street is known as the Harbour Building and is owned by G.L.C Realty Ltd. It is an 8-story office building located in the central business district of Saint John with views of the waterfront. The building is professionally managed and offers elevator access and covered monthly paid parking for tenants (subject to availability). 

Brock Turner was the listing agent and Christine Stanley of Colliers Represented the Tenant. 

Are you looking for office space?
Contact Brock Turner (506) 608-8747 today to see if 133 Prince William Street might work for you. 

1-3 Gondola Point Road, Rothesay, New Brunswick

The property, which was owned by Bell Canada, was first listed in 2019 and had been on and off the market since that time. The property sold on August 18^th, 2023.

The two buildings located at “Rothesay Corner” were purchased by Rothesay Heritage Company Ltd. Locals may have noticed recent activity on the property as renovations are underway.

Strategically located in the heart of Rothesay’s business core near the Rothesay Commons. The property consists of 2 buildings and a portion of the rear parking lot which Bell subdivided off of a larger PID. Bell continues to own and operated out of the building and lot immediately behind the subject property.  1 Gondola Point sat vacant for several years. It served most recently as offices for Sunlife and before that was the Benjamin Bookstore. Long time residents of Rothesay have mentioned that it was a general store decades ago and they can remember, as children, purchasing penny candy there.  It was built in the early 1900’s and is designated heritage. The smaller one story building next door, circa 1940, does not carry the heritage designation.

Stephanie Turner and Brock Turner were the listing agents. Jane Gershon of Plan B/Keller Williams represented the buyer’s side.  

384 Lancaster Avenue, Saint John, NB

It was reported today in the on-line news portal AllNB that JYSK got unanimous support from Saint John council to rezone 384 Lancaster Avenue for its planned retail store at this address on Saint John’s west side. The rezoning still needs to pass 3rd & final reading. According to JYSK, they’re ready to start the renovations as soon as they get the green light and expect to open in the spring of 2024.

When the property sold last year STORY HERE, I was sworn to secrecy, but the good news got out fairly quickly after the sale closed and JYSK was reported as the new property owner.

The first JYSK store in Canada was opened in 1996 in Coquitlam, British Columbia. Today JYSK operates over 60 stores in Canada, including locations in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario and Quebec. With a passion for Scandinavian design, their products range from furniture to accessories, including mattresses, bedding, and outdoor products.
SOURCE: www.jysk.ca  

Stephanie Turner represented the Seller when JYSK purchased the property.  No cooperating agent was involved.

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

We are pleased to announce the leasing of 507 Main Street in Saint John. Entrepreneur and nightclub operator Sandeep Saini has leased the stand-alone building with plans to open King’s Club Bar & Lounge. Saini operated a night club in Moncton with the same name but sold the business recently to open another one in Saint John. The Saini family are no strangers to the Saint John business community with Sandeep’s family also operating Royal King Taste of India on Union Street and Grand King India Grocery in Parkway Mall.

507 Main Street is known by many locals as “The Main Brace” and is easily recognized by the battle scene mural on the side of the building which was painted in the early 1980’s by prominent Saint John Artist , Ray Butler. The property has had many uses over the decades including a bank, legion and even operated a popular nightclub in the early 2010’s. The street is also famous for the annual Marigolds on Main which sees thousands of children plant a sea of bright marigolds in the median.

The immediate area is rumored to see significant changes in the streetscape over the coming years including a new mixed-use development in the lots next door to 507 Main and a re-engineering of Main Street by the City of Saint John with a reduction in vehicle lanes and the addition of a dedicated cycling lane.

King’s Club Bar & Lounge is scheduled to be open to the public last week of May, 2023.

Brock Turner was the listing agent and Jas Chohan of Royal LePage represented the tenant.

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.