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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.
SOLD 819 Millidge
819 Millidge Avenue, Saint John, NB
The church, hall and rectory located at the corner of Millidge Ave and Daniel Ave in Millidgeville has been sold. The property consists of 1.94 acres of land ideal for redevelopment.
The transaction closed earlier this week and the buyer is still ensure what the future holds for the property. I’m sure the neighbours will be watching with interest!
Millidge Avenue is a major traffic artery and leads to Saint John’s central business district less than 10 minutes away.
Development in the immediate area consists mainly of single family homes with some commercial/retail developments nearby as well as two senior’s complexes. The Saint John Regional Hospital and the University of New Brunswick Saint John Campus are also located in Millidgeville. From a recreational stand point, Millidgeville is well served with easy access to Rockwood Park (one of the largest municipal parks in Canada) as well as the Royal Kennebeccasis Yacht Club.
Stephanie Turner represented both the Seller and the Buyer
JUST LEASED: 340 King William Road
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.
Canadian Nuclear Partners sets down roots in Saint John
75 Prince William Street, Saint John, New Brunswick
New office at 75 Prince William Street in the Bank of Canada Building
Canadian Nuclear Partners (CNP), a wholly-owned subsidiary of Ontario Power Generation, was established in 2012 and has grown into a well-respected service provider offering inspection, engineering, asset management, training and consulting services to clients in the power generating sector. With much success in Ontario, CNP has expanded their operations to Saint John, New Brunswick. The new office in Saint John is a welcome addition to the CNP network as it continues to create strong partnerships with various stakeholders in the region.
For CNP’s Vice President, Jason Van Wart, it is an exciting time as he was born and raised in Saint John and looks forward to contributing to the community that was so instrumental to his upbringing. “It is an exciting time for CNP. We are growing on a national and international level. Having an office in Saint John is a wonderful opportunity to give back to the very community that has been an important part of our business and build new opportunities for the future.”
CNP looks forward to delivering on its key values of safety, integrity and excellence to the energy community in New Brunswick.
Stephanie Turner represented both the Landlord and Tenant in this commercial leasing transaction
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.
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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 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
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.
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 represented the Seller and Mike Hosford, Colliers Moncton, represented the Buyer.
75 Prince William LOCATION LOCATION LOCATION
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 (SOLD)
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 represented both the Sellers and Buyers in this commercial real estate transaction.
Hub International now at corner of King and Germain
77 Germain Street (a.k.a 40 King Street), Saint John
In December of 2017 Hub International were approached by a local business about selling their property on Duke Street Uptown. This created a great opportunity for them to upgrade their location and stay in the Uptown Saint John core. Hub International Atlantic is a division of Canada’s largest insurance broker, and specializes in Commercial Insurance, Group Benefits, and Personal Insurance. According to Neil Josselyn “Our Saint John location has 15+ employees, and we represent every major insurance company in Canada.” Josselyn further explained “Our team had outgrown our Duke Street location, however we wanted to stay Uptown, and toured a number of different options. We decided that the sub-let opportunity on the 5th floor at the corner of King and Germain was the perfect location for us to call our new home.” Locals will know this building as home to many of Saint John’s local economic development agencies including Enterprise Saint John and the Chamber of Commerce.
The top priority in a new space was to get all of their staff on one level, while working in an open concept office environment. This space on Germain Street offered this and more. The space has a modern kitchen, a recently redone office with up-to-date I.T. infrastructure. However it maintained exposed brick walls and the radiators from the building’s past. Josselyn went on to say “The location is incredible, offering views of both King Square and Saint John Harbour, all while being across the street from the City Market, and pedway system.”
Stephanie Turner was the listing agent and also acted as Hub International’s local Tenant Representative in negotiating the sub-lease.
Saint John Commercial Real Estate 