Commercial Properties Limited acquires additional heritage building
Saint John, NB, November 4, 2009 – Commercial Properties Limited is pleased to announce its recent acquisition of the Red Rose Tea Building. Located at 47 Mill Street and12 Smythe Street, it is one of Saint John’s most widely-recognized landmarks.
“Saint John boasts one of New Brunswick’s most colourful city centres,” says Commercial Properties Limited property manager Jeff Yerxa. “We have a modern uptown set against a backdrop of world-renowned architecture, historic sites and compelling streetscapes. The Red Rose Tea Building has served as a gateway to the city’s core for well over a hundred years, and Commercial Properties is thrilled to be associated with this iconic building.”
This building was built in 1903, and serves as the last-standing example of Saint John’s active waterfront and tea importation industry, which was an important part of the city’s economy from the 1850’s to the 1950’s. Keeping with this tradition of entrepreneurship and advancement, today it is home to some of the city’s most innovative businesses and organizations, including Red Rose Developments, Mariner Partners Inc., Mosher Chedore, and Crandall Engineering Ltd and others.
The Red Rose Tea Building joins other landmark properties in the Commercial Properties Limited portfolio. The Saint John Company has also developed and manages Brunswick House, Saint John’s first high-rise, and recipient of a BOMA BESt certificate; CenterBeam Place, a CUI Brownie Award winning city block of heritage buildings; Mercantile Centre; and Somerset Square, the first LEED Gold Certified commercial building in Atlantic Canada and nominated for an upcoming Brownie award by the Canadian Urban Institute.
“The Red Rose Tea Building is a Saint John trademark in terms of its history and architecture, but it is also reflective of Commercial Properties Limited’s approach to business,” says Yerxa. “We are a company that takes great pride in our history and heritage, while keeping an eye to the future and opportunities for growth.”