Property Description

Keystone Place is a five-storey office complex at 270 Douglas Avenue in Downtown Bathurst. The property offers approximately 32,631 SF of rentable area on a 2.11-acre waterfront parcel and is 99% occupied. Its tenant mix includes several national and regional organizations with strong covenants, providing diversified, stable income. The building features flexible office layouts, natural light, elevator service, wheelchair accessibility, shared boardroom and kitchen facilities, and a large paved parking area with designated tenant parking. The site also includes excess land with future development potential. Ownership has continued to reinvest through completed and planned capital improvements. The electrical system was updated in 2014, including a new transformer, and the HVAC system is approximately 10 years old. The elevator was recently upgraded at an approximate cost of $20,000, with the cables replaced approximately 8 years ago. Other improvements include new waterlines, valves, and PVC components, plus modern flooring and finishes in many units. Planned work includes replacing eight to nine windows in July, new front stairs and repaving the parking lot this summer. With high occupancy, strong covenants, ongoing capital investment, ample parking and development potential, Keystone Place is a compelling opportunity for investors seeking a well-maintained office asset with durable income and long-term value. Detailed leasing and financial information is available to qualified purchasers upon execution of a confidentiality agreement. Located along the Bathurst waterfront, Keystone Place offers convenient access to City Hall, SNB, Canada Post, financial institutions, restaurants and business services. Douglas Avenue connects to Main Street and the Queen Street and St. Peters Avenue bridges. Bathurst is an important commercial and service centre for the Chaleur region, supported by a bilingual workforce and strong regional connectivity. (id:7434)