Commercial Real Estate | Turner Realty

Leasing Commercial Space (Tenant Representation)

If you're a business looking for space — whether it's your first lease or your fifth relocation — we represent your interests, not the landlord's. Tenant representation is one of the most under-used services in commercial real estate, and it costs you nothing in most cases (the listing landlord pays the commission).

What tenant representation looks like:

Needs analysis — square footage requirements, parking, ceiling height, power, loading, signage, growth runway, and budget. We translate your business into a search brief.
Market sweep — both listed properties and off-market opportunities through our network of landlords and brokers.
Lease economics — base rent, additional rent (CAM, taxes, insurance), escalation clauses, free rent periods, tenant improvement allowances, and what's actually negotiable.
Letter of intent & lease negotiation — protecting your assignment rights, exit options, exclusivity clauses, and renewal terms before you sign.
Coordination with your lawyer and accountant — commercial leases are long-term financial commitments. We make sure the right professionals see the document before you do.

Purchasing Commercial Property

Whether you're buying a building for your own business to occupy (owner-user) or acquiring an income property as an investment, the diligence process is fundamentally different from residential.

What we cover on a commercial purchase:

Investment analysis — cap rate, NOI, cash-on-cash return, debt service coverage ratio, comparable sales, and stress-tested rent assumptions.
Property condition assessment — coordinating Phase I environmental, building condition reports, roof and mechanical inspections.
Zoning & permitted use verification — confirming the property can legally do what you plan to do with it. This is where deals die quietly when missed.
Tenant lease review (for income properties) — examining existing leases, estoppel certificates, security deposits, and tenant credit.
Financing introductions — commercial mortgages have different underwriting than residential. We connect you to lenders who actually do commercial deals in NL.
Closing coordination — title search, surveys, HST treatment, statement of adjustments, and the longer closing timelines commercial transactions usually carry.

Selling Commercial Property

Selling commercial real estate is a different game than selling a house. The buyer pool is smaller, more sophisticated, and almost always financially driven. Marketing has to be tuned to that audience.

How we sell commercial properties:

Pre-listing valuation — income approach (cap rate × NOI), comparable sales approach, and replacement cost. We tell you what the property is realistically worth before we list.
Confidential marketing option — many commercial sellers don't want tenants, employees, or competitors to know the property is for sale. We can run a confidential off-market process to a targeted buyer list.
Offering memorandum (OM) — professional marketing package with rent roll, financials, photos, drone imagery, iGuide tours, and the financial story for buyers and their lenders.
National buyer network — Royal LePage Commercial gives us access to investor buyers across Canada, not just the local market. For the right asset, that materially changes the bid count.
Negotiation & closing — managing offer terms, conditional periods, financing contingencies, and the back-and-forth between buyer's lawyer, lender, and your accountant.

Commercial Markets in St. John's

The St. John's metro area offers diverse commercial opportunities across multiple micro-markets, each with distinct characteristics and tenant profiles.

Downtown St. John's

The economic and cultural heart of the city. Prime location for retail, office, and service businesses. Strong pedestrian traffic, proximity to government offices, and vibrant street-level activity make downtown ideal for restaurants, professional services, and retail.

Typical Properties: Retail storefronts, professional offices, restaurants, entertainment venues.

Price Range: $200–$400+ per sq ft annually.

Stavanger Drive Corridor

Major commercial corridor running through central St. John's, hosting retail chains, automotive dealerships, and service businesses. Good vehicle accessibility and visibility from main thoroughfare.

Typical Properties: Retail centers, dealerships, service stations, warehousing.

Price Range: $100–$250 per sq ft annually.

Kenmount Road Retail Corridor

Established retail district with anchor tenants and secondary retail. Popular location for big-box stores and major retailers serving the west side population.

Typical Properties: Retail centers, anchor tenant spaces, secondary retail.

Price Range: $80–$200 per sq ft annually.

Donovan Industrial Park

St. John's largest industrial area. Dedicated to manufacturing, warehousing, distribution, and specialized industrial operations. Strategic location near highway access and port facilities.

Typical Properties: Warehousing, manufacturing, distribution, light industrial.

Price Range: $5–$15 per sq ft annually; land leasing also available.

Commercial Property Types

Retail

From street-level storefronts in downtown to mall spaces in shopping centres, retail properties serve diverse businesses—boutiques, restaurants, service providers, and chains. Foot traffic, visibility, and parking are key factors.

Street-front retail (downtown)
Shopping centre tenancies
Outparcel spaces
Restaurant/hospitality spaces

Office

Professional office space ranging from single-room suites to multi-floor complexes. Demand remains strong for downtown locations near government and professional services clusters.

Professional office suites
Medical and dental offices
Corporate headquarters
Flexible coworking spaces

Industrial & Warehousing

Purpose-built facilities for manufacturing, distribution, storage, and specialized operations. Donovan Industrial Park and surrounding areas offer excellent options with modern amenities and highway access.

Warehouse and distribution centres
Manufacturing facilities
Cold storage
Specialized industrial spaces

Mixed-Use Development

Combinations of retail, office, and residential in single developments. Growing market segment responding to demand for walkable, integrated urban spaces.

Retail with office above
Retail with residential components
Multi-tenant developments
Urban infill projects

Development Land

Vacant or underutilized land available for new development. Opportunities for residential, commercial, and mixed-use projects in growing neighbourhoods and key corridors.

Commercial development land
Industrial parcels
Subdividable properties
Future-use opportunities

Investment Properties

Income-producing commercial properties offering excellent returns. Turner Realty works with investors to identify and acquire quality commercial assets with strong cash flow potential.

Multi-tenant buildings
Stabilized income properties
Ground lease opportunities
Conversion properties

Multi-Family

Apartment buildings, purpose-built rental complexes, and converted residential investment properties. Multi-family is one of the most active commercial segments in the St. John's Metro Area, driven by strong rental demand and population growth.

Purpose-built apartment buildings
Triplex, fourplex, and multiplex properties
Student housing near Memorial University
Value-add and repositioning opportunities

Hospitality (Hotels & Motels)

Hotels, motels, inns, and short-term accommodation properties. Hospitality is a specialized asset class with unique valuation methods (RevPAR, ADR, occupancy) and buyer pools — we work with the national Royal LePage Commercial network to reach qualified hospitality investors.

Independent hotels and motels
Franchise-flagged properties
Boutique inns and B&Bs
Tourist-destination accommodations

Business Brokerage

Buying or selling a business — with or without the underlying real estate. We help owners package and sell their operating business (restaurants, retail, service, trades) and help buyers find established cash-flowing businesses for sale. Deals can include goodwill, FF&E, inventory, lease assignments, and real estate.

Business-only sales (leasehold)
Business + real estate package deals
Confidential marketing to qualified buyers
Seller financing and earn-out structures

Our Commercial Services

Investment Sales: Marketing income-producing properties to qualified local and national buyers
Landlord Representation: Leasing, tenant relations, and ongoing asset support
Tenant Representation: Advocating for lessee interests and negotiating favourable terms
Owner-Occupied Services: Helping business owners buy, sell, or lease the space they operate from
Business Brokerage: Buying and selling operating businesses — with or without the real estate
Land Development Advisory: Site identification, feasibility input, and development land transactions
Strategy & Consulting: Portfolio reviews, hold-vs-sell analysis, and acquisition strategy
Market Analysis & Valuation: Broker opinions of value (BOV), competitive intelligence, and pricing guidance
Site Selection: Identifying properties that match business requirements

St. John's Commercial Market Overview

Market Strengths:

Growing economic activity driven by healthcare, education, and government sectors
Expanding population and retail spending in metro area
Strategic location for regional distribution and logistics
Stable commercial real estate fundamentals
Investment opportunities in emerging neighbourhoods

Development Trends:

Retail consolidation around key corridors
Downtown revitalization and mixed-use development
Growth in professional services sector
Increased demand for flexible office space
Industrial park expansion for manufacturing and distribution

Royal LePage Commercial — What That Designation Means

Royal LePage Commercial is the dedicated commercial division of Royal LePage, Canada's largest national real estate brand. With 650+ commercial agents in over 110 locations across Canada and a history in commercial real estate dating back to the 1940s, RLP Commercial has orchestrated some of the country's most complex commercial deals. Mike Turner — Broker of Record at Turner Realty and the Broker overseeing our St. John's Metro Area office — joined RLP Commercial as a Designated Commercial Agent in November 2024, bringing that national platform to Turner Realty's clients in Central NL and the St. John's Metro Area.

What the designation gives our commercial clients:

National Reach, Local Expertise — direct relationships with 650+ commercial brokers in every major Canadian market, opening your property to investors and businesses far outside the local pool, while you work with an agent who knows the St. John's Metro Area intimately.
Advisors Your Team Can Trust — whether you're a small business owner, local investor, or land developer, we act as an extension of your team and help you navigate the nuances of commercial real estate.
Institutional-grade marketing tools — RLP Commercial offering memorandum templates, financial modeling frameworks, and a national listing distribution network.
110+ years of brand trust — Royal LePage has been operating in Canadian real estate since 1913. That brand recognition matters when you're representing a $2M industrial building or a $500K retail bay.
In-house photo, drone, and iGuide — every commercial listing gets professional visual marketing without outsourcing or upcharges.
Best in Tech platform integration — our brokerage has been recognized with Royal LePage's Best in Tech award in 2021, 2022, and 2024 for our use of marketing technology.

Mike Turner — Broker of Record & Designated Commercial Agent

Mike Turner oversees the St. John's Metro Area office for Royal LePage Turner Realty as Broker of Record. He brings the same commercial credentials and national network that have built Turner Realty's reputation in Central NL since 2014.

Royal LePage Commercial Designated Agent — since November 2024
Broker of Record — Turner Realty (since 2022)
Licensed REALTOR® — since 2009
Chairman's Club Top 1% Nationally — every year since 2017
Royal LePage Award of Excellence — 2023, 2024, 2025
Top Ten East Coast Team — every year since 2016 (#2 in 2017)
InvestorsEdge™ certified — investment property analysis and acquisition
Best in Tech award winner — 2021, 2022, 2024

For commercial inquiries in the St. John's Metro Area, contact our St. John's office at 709-725-6520 or through the contact form below. Mike is also reachable directly on the Turner Realty brokerage line at 709-256-7999 (Gander, Broker of Record).

Why Choose Turner Realty for Commercial

Local Market Expertise: Deep knowledge of St. John's commercial market dynamics, key corridors, and micro-markets
Extensive Network: Relationships with business owners, investors, and corporate decision-makers
Strategic Marketing: Targeted marketing strategies for commercial properties
Transaction Excellence: Efficient, professional handling of complex commercial deals
Tenant & Landlord Support: Advocacy and guidance throughout lease and sale processes

Ready to Buy, Sell, or Lease Commercial Property?

Turner Realty's commercial team is ready to guide you through your St. John's commercial real estate journey. Contact us today for a consultation.

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Commercial Real Estate in the St. John's Metro Area

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