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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.
According to a recent article “Office, industrial vacancies decline across New Brunswick” published in the on-line Real Estate News Exchange.
“There were 43 office buildings with a combined gross leasable area of 2.51 million square feet surveyed in Greater Saint John.”
The overall office vacancy rate in our market decreased from 19.1% in 2018 to 14.07% last year. Despite this improvement, the vacancy rate is still considered higher than is desirable. A couple of explanations were given…
“The office market in Saint John is in some ways the victim of the city’s past economic success, which saw a number of urban shopping centres constructed in the 1960s and 1970s,” Baird Allen [manager of Turner Drake’s economic intelligence unit] explained. “When demand for retail space shifted away from these malls, they were converted to office space, so the city has a disproportionate amount of class-C office space for a city of its size.
“This oversupply is a contributing factor to the high vacancy rate. Other factors include the nature of the economy in Saint John, which has a strong industrial focus, as well as broader trends in how office space is utilized — going from individual offices to cubicles, and now to flex space and bullpen environments where employees work in communal spaces that require fewer square feet of office space per person.”
Read the entire article below which provides further insight in the Saint John office & warehouse leasing market as well as stats for Moncton and Fredericton.
58 King Street, Saint John, New Brunswick
Directly on the heals of Commercial Properties Limited announcing they were moving their offices from the 4th floor of 58 King to a much needed/expanded space at the Red Rose building, we are pleased to confirm that the space has been leased to Hatch. The space is 2,932 square feet (located above the radio station on King Street) and needed very little in the way of leasehold improvements to meet Hatch’s needs. The space has some exposed brick and an open ceiling offering a modern industrial feel while maintaining much of the heritage character of the building.
Hatch supplies engineering, project & construction, business consulting and operational services to the mining, metallurgical, energy and infrastructure industries. They are relocating their office from the Marr Road in Rothesay to the uptown core.
“We see Saint John as a growth market for us and this new location brings us closer to two of our major clients while also providing additional amenities for our staff such as nearby parks, coffee shops and eateries.” commented Lorne Flowers from Hatch.
Please join me in welcoming Hatch to Uptown Saint John.
Stephanie Turner represented the Landlord and Greg Brewster, Colliers represented the Tenant in the transaction.
340 King William Road, Saint John, New Brunswick
A 10,000+ industrial warehouse building and fenced compound in the Spruce Lake Industrial Park has been leased. The Landlord is Sandav Holdings Ltd out of St John’s NFLD. The property has had many used over the years including being the NB home-base for Household Movers & Shippers, a Coca-Cola distribution centre and most recently was leased to GFL Environmental Inc. Upgrades will be performed on the building and lands over the next few months. The new tenants expects to take possession around August 1st of this year.
Stephanie Turner was the listing agent.
A 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 represented the seller and Noreen Russell, Royal LePage Atlantic represented the buyer.
AUGUST, 2018. 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
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 represented both the Sellers and Buyers in this commercial real estate transaction.
91 King Street Saint John, New Brunswick
After more than 6 months of negotiations, 91 King Street has been purchased by an investor. Integrity Real Estate Investments (IREI) is the proud new owner. The transaction was complicated as the property carried some restrictive covenants that had been imposed years ago when the land was owned by the Anglican church. IREI’s solicitor, Andrew Costin, a partner with the law firm of Gorman Nason, was instrumental in revising the restrictions to allow for the intended development of the property. Steve Carson from Develop Saint John played a key role in interfacing with the church representatives to reach a successful conclusion.
IREI, along with its investors, have plans to redevelop the property. Current zoning requires that the ground floor remain commercial but the upper floors will likely be converted to residential or complimentary uses. IREI and their consultants, Morgan Lanigan and Melissa Wakefield of EXP Architects Inc., are encouraged by early reviews of the existing structure during the due diligence period that suggest additional floors could be added to the building.
The “metro brown” & red aluminum siding covering much of the building’s character will be coming down and it’s intended that the building facade will be restored to its former glory. The building has some strong mid-century elements including terrazzo flooring which shall be preserved and built upon. IREI and EXP will be working closely together over the coming months on the project’s design and next steps.
This is fantastic news for uptown Saint John. This strategic corner has been sorely underutilized for years and it’s time has now come! The public can continue to watch for news of the development on Facebook and Twitter using #91King
Develop Saint John issued the following PRESS RELEASE related to the news.
Stephanie Turner represented both the Seller & Buyer in this commercial real estate transaction.
60 Rothesay Avenue, Saint John, NB
A high profile parcel of land totaling 4.65 acres has been SOLD. The land wraps around the existing Canadian Tire Gas Bar and has road frontage on both Rothesay Avenue and McAllister Drive. Watch for a new retail project happening soon!
Stephanie Turner was the Listing Agent
405 King William Road, Saint John
As reported by HUDDLE, Lorneville Mechanical Contractor’s Ltd (“Lorneville”) announced this week that they won a contract to fabricate large modules as part of an expansion at the Irving Oil Refinery. Although they’re manufacturing the components at their current facility in the Spruce Lake Industrial Park, they required additional space. The nearby E.S. Fox building located at 405 King William Road was vacant and on the market. They’re using the Fox building for their tooling group and for some material storage associated with the project. “Given the short term nature of the contact, it didn’t make financial sense to purchase the building but we were fortunate enough to be able to negotiate a 9 month lease of the facility” says Todd Bethune, Lorneville’s C.F.O. There were other ways to satisfy the requirement for additional space but the close proximity to Lorneville’s current facility made the E.S. Fox building an ideal solution and both sides were pleased to be able to hammer out a deal.
The 24,000 sq ft facility with 54’ clear ceiling height sits on 27 acres of land and is ideal for large module manufacturing. It will continue to be marketed for sale or lease and will be vacated by Lorneville in early March 2018. For more information on 405 King William Road click HERE
Stephanie Turner represented both the Landlord and Tenant in the transaction