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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 of Partners Global 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, Partners Global was the Listing Agent and Milad Debly, Century 21 represented the Buyer.

SOLD – 60 Enterprise Drive, Quispamsis

sold imageA 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, Partners Global Corporate Real Estate represented the seller and Noreen Russell, Royal LePage Atlantic represented the buyer.

SOLD 200 Union Street

200-206 Union Street, Saint John, New Brunswick

The property at 200 Union Street, known by many as the former Academy of Hair Design, has new owners.

The property was purchased by a couple from New Brunswick. The property is commercial on the ground floor and has 6 residential units on the second floor. The new owners intend to use the ground floor for a new retail establishment. Details on that to come at a later date.

The building has a long history in Saint John. The original business was “Jacks Men’s Wear”. It was owned by Jack Levine and eventually his son Ellis Levine. Former Saint John Mayor Sam Davis designed the building for Jack Levine. You can still see the name “JACK” inlayed in a tile mosaic by the sidewalk near the main entrance.

This is just one more in a string of recent announcements about an exciting revitalization that is happening along Union Street and in the Waterloo Village area.

 

Stephanie Turner, Partners Global, was the listing agent. Lee Yuyang, Re/Max Professionals Saint John represented the buyers.

36 Richmond SOLD

36 Richmond Street, Saint John, New Brunswick (Waterloo Village area)

Adams Green announced today that they purchased 36 Richmond Street which is located at the corner of Richmond and Prince Edward Streets.

The 3 story heritage brick building is a masterpiece of architectural detail much of which has thankfully been preserved. The ground floor with its high punched tin ceilings and old “apothecary” drawers has been used for various commercial enterprises in the past. The upper two floors were most recently rented as one massive residential unit. The attention to detail and craftsmanship evident in the extensive wood paneling and molding is impressive. Two built-in rounded benches are absolutely amazing.

36 Richmond Street

According to the Press Release issued today “Adams Green is the first accounting firm in Canada to be certified as a B Corporation. That means they value people and the planet as much as profit”.

In the press release Owen and Haley Green, the new owners, go on to explain that they are launching The Wheelhouse “A kind of community centre for entrepreneurs, where people can come together to collaborate around all kinds of ideas”.

They really embraced the Waterloo Village location… it fits right in their “wheelhouse” of being socially responsible. The Union Street and Waterloo Village areas of Saint John have experienced a wave of investment in recent months and they wanted to be part of making a difference in this up-and-coming neighbourhood.

Stephanie Turner, Partners Global represented the Buyers and Gary Vincent of Keller Williams was the listing agent.

PHOTOS of the inside and more on this story at Huddle.Today

#91King Street SOLD

91 King Street Saint John, New Brunswick

sold imageAfter 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, Partners Global Corporate Real Estate, represented both the Seller & Buyer in this commercial real estate transaction.

4.65 acres SOLD on Rothesay Avenue

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 of Partners Global was the Listing Agent

Scotsburn “Popsicle Plant” SOLD

130 Station Street, Saint John, New Brunswick

sold-imageThe Scotsburn Frozen Novelty plant on Station Street across from Harbour Station has a new owner. Commercial Properties Limited already owned the land on either side of the property so it’s no surprise that they had an interest.  Paul Moore, VP of Commercial Properties explained “Commercial Properties Limited is a commercial real estate company with a desire to do new development.  The ability to assemble substantially sized parcels of land is key to being ready to pursue opportunities when the timing is right.”  A recent example of this is the new liquor store. Commercial Properties had acquired the parking lot at the corner of Wellington and Union in 2014 which meant they were well positioned to respond to the NB Liquor Corporation RFP.

Commercial Properties has been working on plans to demolish the Station Street building. “There’s a lot of concrete & rebar in there” said Erica Gorman, an engineer with Commercial Properties.  “Taking the building down is not a simple exercise.” The building is slated for the wrecking ball in the near future.

Stephanie of Partners Global Corporate Real Estate was the listing agent.

Thanks to HUDDLE for also running with the story today.

Want to learn more about the NB Liquor project mentioned above? Watch a 4:37 minute video called Reimagining 10 Wellington Row