Saint John Commercial Real Estate

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Lorneville Mechanical leasing E.S. Fox building

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

Is talking to the media worth it? #91King

Despite the fact that they often screw it up (not you Huddle!)… the answer is yes! Especially since I’m fortunate to have a platform where I can help set the record straight.

I did an interview this week with a rookie Telegraph Journal reporter. She did not misquote me in the story but left out a lot of great stuff that would have made this a positive story! Things such as:

  • I told her that it’s not unheard of for large redevelopment projects such as this to take as long as 4 years to sell. 1) The Bustins portfolio took 4 years and look at it now! (Thanks Historica!!). 2) Le Faubourg at 125 Prince William Street had been listed for 4 years and is FINALLY under agreement and is scheduled to close in August.
  • Yes, I did say there are not many investors willing to take risk but I did not say there aren’t any… we just need more!
  • 91 King has seen a flurry of activity since Irving Oil’s Home Office began construction across the square.

And lastly, when asked about the status of the retail market in uptown Saint John I could not stop gushing about the vibe uptown… the unique restaurants, pubs & micro breweries that are quickly putting Uptown Saint John on the map as a “foodie destination”. We have this growing cluster and it will attract more!

Missed the TJ article? You can read it below SOURCE: TODAY’S EDITION on-line at thttp://digital.olivesoftware.com/Olive/ODN/TelegraphJournal/#

 

St. John Ambulance motivated to sell building in Millidgeville

65 University Avenue, Saint John, New Brunswick (Millidgeville)

$319,000 PRICE REDUCED $249,000

This single story, stand alone, commercial building is 50′ wide x 65′ long (3,250 square feet) and is currently used as a training facility for St John Ambulance. Located next to the new Jean Coutu pharmacy development scheduled to open May 11th.

The building sits on .46 aces of land and the current lot configuration would allow parking for approx. 15+ vehicles. Current zoning is “Neighbourhood Community Facility” (CFN) but the city should be amenable to re-zoning to commercial use given the development project next door.

Ideal for office, medical clinic or restaurant. Click here for PHOTOS OF THE INSIDE

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Brunswick House turns 50 years this year!

According to today’s HUDDLE story “The building, on the corner of King Street and Chipman Hill in the heart of the Uptown, was fully occupied in 1967, making 2017 its 50th birthday. It is Saint John’s original Class “A” high-rise office building.”

The story goes on to say “In an era of constant change, it seems remarkable that three of the original tenants are still located in Brunswick House: RBC Dominion Securities, Deloitte and Stewart McKelvey have been there since the very beginning.” I agree, this IS remarkable and a testament to the quality of the building and the Landlord.

Read the entire HUDDLE story HERE  (P.S. Hey Huddle, I’m turning 50 this year too… is that story worthy?)

Brunswick House Leasing Info HERE

How I approach CRE photography

I am very fortunate to be selling (and leasing) commercial real estate in a city with amazing architecture. With over 10 years in the industry, I have a discovered a few photography tricks of the trade. When taking exterior building shots, I like to ensure that the sun shining and that there’s a nice blue sky. If possible, I like to get leaves or plants in the foreground of the photo to help frame the shot and add depth.

I also try to get photos which help showcase the character of the property if applicable.

It only takes a few extra minutes to consider the lighting, angle and composition of the photo. With digital photography it costs nothing to snap a few extra “non traditional” shots to see what you get. Getting a good shot is not the final step… editing is also important. Creative cropping and fine tuning of exposure makes all the difference.

In an effort to improve my photography skills I have recently taken to honing my skills via online training and participating in a virtual social platform called Guru Shots.

 

 

 

REDUCED…motivated seller!

1655 Manawagonish Road, Saint John, New Brunswick

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NEW PRICE *** $899,000***

This “L” shaped building has a “split level” layout with impressive bright main entrance lobby and ceiling stretching the total height of the 2 floors. Floorplan features washrooms on both levels, several bright private offices and large meeting room. Paved parking for 24 vehicles could be expanded to accommodate more parking.

The property would make an ideal office building but also could be renovated into apartments or condos (subject to zoning). Sits on 2 acres with gorgeous view of the Bay of Fundy coastline!

CLICK HERE for additional information and to view PHOTO GALLERY

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