Brunswick Brokers | Commercial Real Estate Advisors

Atlantic Canada’s Commercial Real Estate Advisors

  • Home
  • Properties
  • About Us
    • Services
    • People & Offices
  • Research & Reports
    • Market Reports
    • Atlantic Listing Reports
  • News
  • Contact
Brunswick Brokers | Commercial Real Estate Advisors

Atlantic Canada’s Commercial Real Estate Advisors

  • Home
  • Properties
  • About Us
    • Services
    • People & Offices
  • Research & Reports
    • Market Reports
    • Atlantic Listing Reports
  • News
  • Contact

News

Somerset Investments Ltd. to Acquire 10.77 Acres on Technology Drive from Commercial Properties Limited

By

Connor Carson

Posted in Sale, Land, Saint John On June 21, 2021

Brunswick Brokers Limited is pleased to announce that a deal has been brokered between Commercial Properties Limited and Somerset Investments Limited for the acquisition of land on Technology Drive. Somerset Investments will be acquiring the 10.77 acre parcel of land located at 60 Technology Drive as part of a land amassment effort. The acquiring company already owns neighbouring properties. The addition of this parcel brings the total area for development to just shy of 34 acres.

The site is strategically located in close proximity to the city centre as well as the Saint John Regional Hospital. Although these parcels are currently zoned Business Park, it has long been thought by many local developers that the highest and best use for the properties would be multifamily.  The purchaser recently submitted an application to the City of Saint John to have the parcels rezoned to the RH zone.  A meeting is to be held on June 26th, 2021 for first reading of the application. In the application, the developer proposes building up to 500 residential units. According to Melanie Dowd of Somerset Investments “We are very excited about the potential that this large track of land holds. The elevation of the site provides the possibility for some amazing views of both the city and the Kennebecassis River.”

Stephanie Turner of Brunswick Brokers Limited brokered the deal between Commercial Properties Limited (seller) and the buyers Somerset Investments.

Interested in land for multifamily or other development? Check out our listings:

View Listings

Recent Posts

  • PRUDE Inc Learning Center Saint John announces move to Market Square
  • Nobel REIT Announces Strategic Direction for Place 400 Property
  • Introducing Tragically Hopped: A New Brew Pub Coming to 184 Hampton Road!
  • LEASING ACTIVITY AT HARBOUR BUILDING
  • SOLD: One Magazine Street in Saint John NB

Categories

  • Contest
  • Jobs
  • Land
  • Lease
  • Listing Reports
  • News
  • Prince Edward Island
  • Quispamsis
  • Saint John
  • Sale
  • Sublease
  • Uncategorized

About Us

Brunswick Brokers offers a variety of services throughout Atlantic Canada including Purchase/Sale or Lease negotiations for office, industrial, retail, and high-density residential properties. Our experienced team represents a variety of buyers, sellers, landlords, and tenants.

Menu

  • Brunswick Brokers
  • Properties
  • Services
  • People & Offices
  • About Us
  • News
  • Contact
  • Disclaimer

Newsletter

© 2024. All rights reserved. Privacy Policy

|
Brunswick Brokers | Commercial Real Estate Advisors
  • Login
Forget Password?