Space Across From Moncton Events Centre Is Prime Real Estate For a Restaurant
MONCTON – As the Downtown Centre gets closer to opening, nearby vacant commercial space is going to be ripe for a new business to take advantage of the increased traffic.
Across the street, Killam Apartment REIT is looking to rent out up to 3,200 square feet of space on the first floor of 1111 Main St. for a restaurant or a coffee shop.
“The building currently contains commercial space and furnished suites and is home to Killam’s Moncton Regional Office,” said Vice President of Tenant Experience and MHC Management Pam Crowell said in an e-mail to Huddle.
“We have vacant space that we believe lends itself to be used as a café or restaurant, given the soon to be completed Events Centre across the street.”
The building is also located in front of the main bus stops for Codiac Transpo in downtown Moncton.
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An image on the “for lease” sign in front of the building shows a restaurant with a patio. This is a rendering of what a patio or atrium could look like if the location is leased to an eatery, Crowell said.
“The new sign is meant to draw interest from potential restaurant operators or existing restaurants/coffee shops that might consider 1111 Main as a new location,” she said.
“The image on the sign is a sketch of what a patio or atrium could look like if the space is leased to a restaurant. This is an excellent location for such a use.”
Killam has not signed a deal with any restaurant yet for the space, but it can “consider a patio or atrium,” she said.
The rent for office or commercial space in the building is between $14 and $18 per square foot per year. But Crowell said the price will be higher for a restaurant.
“As Landlord, when we find the right tenant(s) for this space, we expect to work together with the tenant(s) to build out the space for a quality café and/or restaurant,” she said. “The rents will really depend on what is spent on the premises to convert it from office to restaurant space.”