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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, Partners Global Corporate Real Estate was the listing agent.
405 King William Road, Saint John
A 24,000+ sq ft industrial building located in the Spruce Lake Industrial Park owned by E.S. Fox has been leased on a short term basis (9-15 months) to a large industrial occupier as swing space to accommodate a refurbishment at the Tenant’s permanent facility. This comes directly on the heals of two earlier short terms leases.
The building was originally built for large component manufacturing and is pretty unique in the market. The ceilings are over 50 feet high and one end of the building opens up like an airplane hanger. The building sits on 27 acres of land in the Spruce Lake Industrial Park and is located in close proximity to the new barge terminal.
There are many reasons why a business may have short term requirements such as contract fulfillment, temporary storage or swing space. Although finding a long term tenant or buyer for the facility is preferred, E.S. Fox is pleased to have found multiple opportunities to lease the space to local businesses requiring short term facilities.
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 of Partners Global represented both the Landlord and Tenant in the transaction
405 King William Road, Saint John, New Brunswick
Due to the extremely high ceilings and end wall (40′ x 60′) which opens up, the obvious use for this building is large component manufacturing such as modular homes, bridge components etc… but what else could it be? What about an indoor vertical farm?
According to this Huffington Post article here’s how it works: Plants are grown in beds stacked as much as six high by using a mineral-rich water solution which is derived from tanks of hormone-free tilapia offering up nutrients to the plants in a controlled environment that ensures optimal growing.
With the recent closure of Real Food Connection in NB it might be too soon/challenging for local farmers to see the potential for growing vegetables indoors but perhaps a certain other type of “greens”?
For more information on 405 King William Road click HERE