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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.
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
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’s First Boutique Hostel Experience…Coming June 2018
36 Water Street, Saint John, New Brunswick
BunkHaus Boutique Hostel
After learning of different boutique hostels popping up around the world, Ingrid Woodhouse was inspired to create her very own hostel business here in New Brunswick. And, although there was no doubt from the beginning that Uptown Saint John was the best location for BunkHaus, it took some time to find the perfect spot.
“I looked at a few places but it wasn’t until we walked into 36 Water Street that I knew the hostel had found a home,” says Ingrid. “It has a beautiful exposed brick wall that really showcases our city’s character, huge storefront windows that let in tons of natural light, it’s uptown on a ground floor, has high ceilings, and it even has my ideal footprint of 2500sq ft. It was a total homerun.”
Ingrid hopes that BunkHaus will help draw more travelers to the city and is excited to bring affordable yet chic accommodations to the Uptown core. The hostel will offer both private rooms and custom timber-frame bunks with stair access the top beds. As for the common area there will be a fresh new communal kitchen, long harvest table for sharing meals, and a lounge area for guests to relax and meet one another. The addition of a minibar as well as an outdoor patio with hammocks and heat lamps are also part of the plan but will come later. On-site laundry and free Wi-Fi will be vailable too.
With traditional Saint John architecture of 12ft high ceilings, exposed brick, and large windows, there will be no problem making this space a home using local art, plants, and comfortable Scandinavian-inspired furnishings. Guests will feel right at home here as they share meals, music, and memories together in the communal spaces designed to bring people together.
“We’re incredibly delighted to see the BunkHaus coming uptown and look forward to the grand opening. Without a doubt, this will be another great addition to the neighborhood. Not only will this be very high quality, it will also satisfy a need in the marketplace. We congratulate Ingrid on her vision and for seizing the opportunity,” says Keith Brideau of Historica Developments.
To follow renovations and keep up-to-date with news and future offers, follow @BunkHausHostel on Facebook and Instagram.
WEBSITE COMING SOON at www.bunkhaushostel.com.
Stephanie Turner worked with Ingrid to find the perfect space and represented BunkHaus in the negotiations in the Landlord, Historica Developments.
#91King Street SOLD
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.
Le Faubourg sees another big price reduction. Now $749,000
125 Prince William Street “Le Faubourg”, Saint John, NB
$899,000 NEW PRICE $749,000 SOLD
Ideal candidate for redevelopment! Uptown heritage with many infrastucture upgrades including sprinkers throughout, roof (Nov 2011), some repointing of brick, amost all new windows. New 400 amp 120 volt electrical entrance installed with updated wiring in 2007. Building has been converted to natural gas. Commonly, heritage buildings such as this one in the uptown core are utilized for commercial and business related enterprises. The main floor would typically be devoted to retail with the upper floors being utilized for offices and/or residential. View of Harbour on Water Street side of building.
Gross building area 17,467 square feet.
This block of Prince William Street, between Princess and Duke, has undergone (2014-2015) a complete restoration including street resurfacing, granite curbing, landscaping and decorative lighting. Close to shopping, hotels and cruise ship terminals.
For more information and interior photos click HERE
CHANGE COMING TO MAGNOLIA CAFÉ
Dave Hyndman of Dave’s Lobster from PEI has had his sights on the Saint John for some time. The restaurant’s menu is simple “Atlantic Canadian lobster rolls & tacos, awesome grilled cheese, local craft beer. “ Dave’s is widely considered to be among the best lobster rolls in Atlantic Canada. They currently have two locations…one on the Charlottetown waterfront and one on the Halifax waterfront. “Saint John was a logical next step for me” says Dave. “I operate seasonally from May-October and wanted a location which would be convenient for the locals but from which I also could capture the cruise ship passenger market”.
It was on a visit to Saint John just before Christmas (more…)
FOR LEASE on the #gingerbreadtrail
20 King Street, Saint John
For the second year in a row, I’m participating in the Crosby’s Molasses Gingerbread Trail. Join us in this magical journey of sweet gingerbread delights throughout uptown Saint John.
The 4th annual Crosby’s Gingerbread Trail kicked off today in shops, restaurants and public locations in Uptown Saint John. The Trail, sponsored by Crosby Molasses Co. Ltd., is a network of 34 gingerbread houses and other gingerbread creations on display throughout the uptown core and continues until December 24th.
For more info click, a list of participating business and a map of the trail click HERE
See my gingerbread building in the window at 20 King Street (former Birks location)
“Heritage Knowledge Park”…what is it?
“Heritage Knowledge Park” is a branding initiative currently picking up steam in Saint John’s uptown business community. It loosely translates to “creative companies doing business in close proximity to each other in very cool old buildings”. The initiative is being spearheaded by Enterprise Saint John and I personally think they’re on to something!
According to a recent article by Heather Desserud that appeared in the Telegraph Journal (more…)
Uptown Saint John Inc. Announces Move
17 Canterbury Street, Saint John, New Brunswick
Uptown Saint John Inc. (the official voice of more than 650 business and property owners operating in Uptown’s 20-block Business Improvement Area) recently announced that they are moving from their current location on the 2nd floor of 40 King Street to street level office space at 17 Canterbury Street.
According to their Executive Director, Nancy Tissington, “The USJI board and I felt that the street level suite put us at an easy access for all of our businesses we represent. Hosting networking opportunities and offering up space for our business and committee meetings was ideal. Many BIAs are moving towards this model of street presence and it’s proving to be more engaging and a visible advantage while representing the business district. We will lead by example…from cleanliness in front of our street level space to providing drop in discussions celebrating successes and providing assistance with urban core challenges.”
Uptown Saint John Inc. is really excited about this move and who can blame them? This block of Canterbury is really taking off with all that’s happening right across the street with Historica’s Canterbury Car Park Project. The visibility that this storefront space will provide is a huge benefit to them. They are a perfect fit for Centerbeam Place and I’ve heard rumours that they plan to take advantage of Centerbeam’s courtyard for future uptown activities. Can’t wait!
Sneak a peek at what’s inside…
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- view from entrance
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- great collaborative space
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- who doesn’t love a medieval door?
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- funky ceiling treatment
Saint John Commercial Real Estate 