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The Flight to Quality in Commercial Real estate

I’m visiting Calgary this week and meeting with clients. One thing that is evident in this market is “The flight to quality” is bringing about a major shift in the industry. There’s a collective desire to bring people back together for collaboration and innovation, driving the demand for flexible, amenity-rich quality workspaces.

Take The Ampersand in downtown Calgary for example… a class A complex featuring three 28 storey towers offering over 1.1 million square feet of space between them. Amenities include a conference centre, fitness centre, indoor food trucks, golf simulator, day care, dog patios and much more!

In a historically tight labor market, the competition to attract and retain top talent remains exceedingly fierce. Thus, companies are recognizing the importance of providing exceptional workplace environments to ensure they remain desirable destinations for skilled professionals.

When searching for new office space, tenants are often conflicted between their desire for shorter, more flexible lease terms that cater to uncertain workplace dynamics, and the availability of the spaces that meet their wants & needs. Quality office space requires capital investment but then inherently, the shorter the lease, the more expensive it is for the tenant. It’s about finding balance and working in partnership with landlord. The landlord/tenant relationship has long been mostly transactional, and at times even adversarial. Fortunately, I’m seeing it more and more become one of cooperation and partnership.

Do you want higher quality workspace for your team? Contact us today…

Transforming Workspaces: Wellness, Sustainability, Technology, and Flexibility

In today’s ever-evolving work environment, the focus is on creating spaces that prioritize both the well-being of occupants and the sustainability of our planet. Modern office design integrates wellness initiatives and sustainable practices to promote physical and mental health while minimizing environmental impact.

Emphasis on Wellness and Sustainability:

Employers understand the importance of fostering a healthy work environment. In response, office designs now incorporate features such as ergonomic furniture, ample natural lighting, green spaces, and even fitness facilities. These elements contribute to physical well-being and promote a positive atmosphere conducive to productivity and creativity. Sustainability is also at the forefront, with eco-friendly materials, energy-efficient systems, and waste reduction measures becoming standard practices. By aligning workspace design with wellness and sustainability principles, businesses are not only enhancing the experience for employees but also demonstrating their commitment to environmental responsibility.

Technology Integration:

Advancements in technology are revolutionizing how we interact with our workspaces. Smart offices equipped with high-tech devices, cloud-based collaboration tools, and digital platforms are enhancing productivity, connectivity, and efficiency. Automation, such as automated temperature control, and virtual meeting solutions streamline operations, making work processes smoother and more seamless. By integrating technology into office design, businesses are adapting to the digital age and providing employees with the tools they need to thrive in a modern work environment.

Hybrid Work Models:

The COVID-19 pandemic accelerated the adoption of hybrid work models, blending remote and in-office work arrangements. As businesses embrace this flexibility, office design is evolving to support a hybrid workforce. Agile workspaces featuring hot desks, collaboration zones, and virtual meeting rooms accommodate employees’ diverse work preferences while maintaining company culture and fostering collaboration. This shift towards hybrid work models reflects a recognition of the changing nature of work and the need for adaptable office spaces that can cater to different working styles and preferences.

Conclusion:

The future of workspaces is characterized by innovation, flexibility, and a commitment to meeting the evolving needs of businesses and employees. By prioritizing wellness and sustainability, integrating technology, and embracing hybrid work models, businesses are reimagining the way we work and creating environments that empower individuals and organizations to thrive. As we continue to adapt to a rapidly changing world, let us seize the opportunity to shape workspaces that inspire creativity, promote well-being, and contribute to a sustainable future.

Are you thinking of new office space? Contact us today…

Introducing Tragically Hopped: A New Brew Pub Coming to 184 Hampton Road!

Excitement is brewing in the local community of Quispamsis as a new establishment gears up to take over the vacant space at 184 Hampton Road. The buzz is all about “Tragically Hopped.” Owners Shane Steeves and Jeremy Harrington are thrilled to announce the arrival of their much-anticipated brew pub.

Shane Steeves, a seasoned figure in the brewing industry, brings over a decade of expertise to the table. With nearly 11 years of owning a successful local microbrewery under his belt, Shane is no stranger to crafting exceptional brews. His dedication to quality and innovation has earned him numerous awards on a national scale.

Joining forces with Shane is Jeremy Harrington, an established entrepreneur with a rich background in electrical contracting. With 22 years of business acumen and 30 years of industry experience, Jeremy’s expertise extends beyond the realm of electrical solutions. His proficiency in new construction management, financial investments, and project cost control positions him as a valuable asset in the development of Tragically Hopped. Jeremy’s extensive network and strategic insights will undoubtedly contribute to the success of this venture.

The collaboration between Shane and Jeremy represents a fusion of passion and professionalism, setting the stage for a brew pub that will quickly become your favourite hangout! With their meticulously crafted beers, newly designed interior and outdoor patio, Tragically Hopped aims to deliver an unforgettable experience that celebrates local flavours and community spirit.

The Landlord, The Gray Group Limited, are thrilled to welcome Tragically Hopped to Lakefield Plaza and are pleased to have secured a tenant with such proven track record.

As the final details fall into place, anticipation mounts for the grand opening of Tragically Hopped. Stay tuned for updates on this exciting development and get ready to raise a glass for this new brew pub!

The leasing of 184 Hampton Road was facilitated by salesperson Brock Turner of Brunswick Brokers, a reputable brokerage dedicated to connecting businesses with prime commercial spaces. With Brock’s expertise and dedication, Brunswick Brokers successfully secured a tenant for the property.

Are you looking for space in the Kennebeccasis Valley? Contact Brock Turner  today to assist with your needs. (506) 271-2770

SOLD: One Magazine Street

One Magazine Street, Saint John, NB also known as “The Jacquelin Premises,” has been sold to Maritime Medical 1 Ltd. The three-story brick building, nestled in the north end of Saint John and boasting picturesque views of the harbour and Fort LaTour, is a stunning example of newer construction that is in keeping with the rich architectural history of Saint John.  

Constructed in 2004 by AGSD Investments Ltd, under the ownership of Dr. Andrea Garland, One Magazine Street is a symbol of great design and quality construction. The building, which features a distinctive rounded corner, has been meticulously maintained and has garnered praise for its timeless design. The Jacquelin Premises, at the time of sale, was fully occupied with a diverse range of tenants, many of which are medical professionals.

The building was named for two people, Françoise Marie Jacquelin, a historical figure of the area who defended Fort LaTour and the seller’s mother, Jacqueline Bannister Garland. According to Dr. Andrea Garland “She was an independent hard-working woman who recognized and fought for equal rights, equal pay among other important things such as spousal rights. She was intelligent, broad minded, kind and welcoming.”

Maritime Medical 1 Ltd, a newly formed company, purchased the building and expressed enthusiasm for the acquisition, highlighting their commitment to maintaining the building’s integrity while exploring ways to enhance its offerings.

Stephanie Turner and Brock Turner from Brunswick Brokers Limited represented the Seller and Jonathon Rasenberg of Coldwell Banker Select Realty represented the Buyer.

Did you miss out on this opportunity? Check out 90 Paradise Row which just listed nearby

Interested in more about the history of Francoise Marie Jacquelin read that HERE

MARINER PARTNERS NOW OCCUPYING FORMER CANADA LIFE SPACE

44 Chipman Hill, Saint John, NB

Brunswick Brokers Limited is pleased to announce the successful sub-leasing of 6,123 square feet of office space in suite 310 at 44 Chipman Hill “Brunswick House”  in Saint John, New Brunswick. If you have ever taken the elevators on the 3rd floor of Brunswick House, you may have noticed the eye-catching office suite at the end of the hall.  Mariner Partners had been on the hunt for new space and quickly snapped this up when it hit the market. They relocated their offices from the Brunswick Square office tower late last year. “We are loving our new space! It has a fresh, modern vibe and is just the size we need.” 

The office leasing market had been fairly quiet through the pandemic. That said, Brunswick Brokers is seeing demand for office space pick up as companies are coming to understand their short to medium term needs as it relates to the leasing of space. We think the hybrid work model is here to stay which means office tenants will be looking for more opportunities for desk sharing/hoteling, as well as more spaces for collaboration and meetings. The aesthetics of the space is more important than ever. Employers want to see employees in the office and offering a beautiful & functional work space is one strategy to entice workers back in to the office.

Stephanie Turner and Brock Turner of Brunswick Brokers represented Canada Life on the sub-leasing and Troy Nesbitt, also of Brunswick Brokers, represented the tenant, Mariner Partners.

Are you in the market for new office space? Reach out to a Brunswick Brokers agent today to see what options are available. https://www.bbrokers.ca/people-offices/

LEASING ACTIVITY AT HARBOUR BUILDING

NGH PROFESSIONAL CORPORATION – EYEDENTITY MEDICAL GROUP has leased space at 133 Prince William Street for a new doctor’s office specializing in ophthalmology.  “Having this uptown location should work very well for us and we look forward to welcoming our patients to the new clinic starting in February, 2024″ said Dr. Georges Hanna. 

133 Prince William Street is known as the Harbour Building and is owned by G.L.C Realty Ltd. It is an 8-story office building located in the central business district of Saint John with views of the waterfront. The building is professionally managed and offers elevator access and covered monthly paid parking for tenants (subject to availability). 

Brock Turner of Brunswick Brokers Limited was the listing agent and Christine Stanley of Colliers Represented the Tenant. 

Are you looking for office space?
Contact Brock Turner (506) 271-2770 today to see if 133 Prince William Street might work for you. 

NEWS… 1-3 Gondola Point Road in Rothesay has traded

1-3 Gondola Point Road, Rothesay, New Brunswick

The property, which was owned by Bell Canada, was first listed in 2019 and had been on and off the market since that time. The property sold on August 18th, 2023.

The two buildings located at “Rothesay Corner” were purchased by Rothesay Heritage Company Ltd. Locals may have noticed recent activity on the property as renovations are underway.

Strategically located in the heart of Rothesay’s business core near the Rothesay Commons. The property consists of 2 buildings and a portion of the rear parking lot which Bell subdivided off of a larger PID. Bell continues to own and operated out of the building and lot immediately behind the subject property.  1 Gondola Point sat vacant for several years. It served most recently as offices for Sunlife and before that was the Benjamin Bookstore. Long time residents of Rothesay have mentioned that it was a general store decades ago and they can remember, as children, purchasing penny candy there.  It was built in the early 1900’s and is designated heritage. The smaller one story building next door, circa 1940, does not carry the heritage designation.

Stephanie Turner and Brock Turner of Brunswick Brokers were the listing agents. Jane Gershon of Plan B/Keller Williams represented the buyer’s side.  

JYSK plans to open early 2024

384 Lancaster Avenue, Saint John, NB

It was reported today in the on-line news portal AllNB that JYSK got unanimous support from Saint John council to rezone 384 Lancaster Avenue for its planned retail store at this address on Saint John’s west side. The rezoning still needs to pass 3rd & final reading. According to JYSK, they’re ready to start the renovations as soon as they get the green light and expect to open in the spring of 2024.

When the property sold last year STORY HERE, I was sworn to secrecy, but the good news got out fairly quickly after the sale closed and JYSK was reported as the new property owner.

The first JYSK store in Canada was opened in 1996 in Coquitlam, British Columbia. Today JYSK operates over 60 stores in Canada, including locations in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario and Quebec. With a passion for Scandinavian design, their products range from furniture to accessories, including mattresses, bedding, and outdoor products.
SOURCE: www.jysk.ca  

Stephanie Turner of Brunswick Brokers Limited represented the Seller when JYSK purchased the property.  No cooperating agent was involved.

Dr. John Sherrard to open inclusive creative space in KV

120 Millennium Drive, Quispamsis, New Brunswick

Brunswick Brokers Limited is pleased to have brokered another lease deal at 120 Millennium Drive in Quispamsis.  Less than a year after moving his orthodontics practice to the building, Dr. John Sherrard has leased the adjacent vacant space previously occupied by the Grape D’Vine.  The new space will serve as an extension of John’s orthodontics practice but this area will be designed to complement the professional services he is providing with a recreational component. Sherrard will be collaborating with Maritime artists to create a safe place for people to pursue artistic interests and be able to express themselves creatively.  

“My hope is that this expansion will serve our patients and the community, giving a voice to the voiceless and helping people find their inner smiles again” said Dr. Sherrard.  “Bringing back the smiles (our tagline) has never been just about teeth.  This passion project is my way of helping bring back music and art, which have been pushed to the sideline at the same time as unprecedented masking, restrictions, and educational/life stresses.  I don’t just want to fix the smiles people see… I want to give people an opportunity to find their own authentic smile, no matter what that might look like!”  

Dr. John Sherrard

Renovations to the space will be ongoing and John hopes to open the space in July.  The name of the space is still in the works, but no matter what, John has told us we can expect it will be fun.  For more information or if you wish to offer ideas or other forms of support, please reach out to john@bringbackthesmiles.com.

Stephanie Turner and Brock Turner both of Brunswick Brokers were co-listing agents.

Looking for retail space?  View our listings at www.brokers.ca

THE GRAY GROUP ACQUIRES MARITIME CHRISTIAN COLLEGE PROPERTY IN CHARLOTTETOWN

Brunswick Brokers Limited takes pride in serving the commercial real estate needs of Prince Edward Island based businesses. Our most recently brokered transaction involves the property at 503 University Avenue in Charlottetown. The property has served as the campus for Maritime Christian College for almost three decades. In 2019 the college started a move towards more online learning for its undergraduate and certificate programs, and when the pandemic hit in 2020, the college was able to accelerate its online learning efforts to serve 100% of students in a high-quality online learning environment. The new model worked well and the college was able to expand the number of students it was serving. In early 2022, the Board of Directors for Maritime Christian College decided to reposition the assets of the college by selling the property in Charlottetown. The college engaged Brunswick Brokers Limited to find them a buyer for the property. The 24,000 square foot building which currently houses the college’s admin offices, classrooms and dorm rooms sits on 3.42 acres of land located directly opposite the entrance to the University of Prince Edward Island. 

Long standing, Charlottetown based company, The Gray Group recognized the potential for residential development for this location and seized the opportunity to acquire the property. With the current rental housing demand they believe redeveloping the property at 503 University Avenue into multifamily, residential dwellings will be the most beneficial use to the community. According to The Gray Group’s President, Trevor MacLeod, “We will be taking considerable time to work with our planners to ensure that a high level of quality and sustainability is met.”

Residential development in the greater Charlottetown area has seen a spike in recent years due to an aging population and a lack of quality, multifamily rental options available. Developers have had considerable success in pre-leasing ahead of building completions, pointing to the high demand for rental units.

“The sale of the physical asset at 503 University Avenue is not one that the college undertook without a lot of deliberation. We decided that our future work in fulfilling our mission is more aligned with a focused online learning environment than in maintaining physical assets.” said Richard Jones, Chief Operating Officer of Maritime Christian College. He went on to say that the college has continued to expand its ability to serve students from around the world with a high-quality online learning experience that is available anywhere, anytime. Based on demand from its partners in other countries, Maritime Christian College has even added a graduate-level degree in 2023.

The College’s administration offices will be relocating to office space at the Sherwood Christian Church at 9 Lilac Avenue in Charlottetown. 

Stephanie Turner, Senior Advisor at Brunswick Brokers represented the seller Maritime Christian College 

Do you own a property in Prince Edward Island that you would like to sell? Reach out to our PEI licensed agent, Stephanie Turner sturner@bbrokers.ca (506) 333-3442