An insurance company based in St. John’s announced yesterday that it has signed a new multi-year lease with the owner of its building.
Johnson Insurance has signed a 10-year lease with Slate Office REIT, which owns the Fort William Building that the insurer has designated its national head office. The current sub-lease is set to expire in 2020, but the signing extends the insurer’s lease on the property to 2030.
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The company said in a release that it would take over primary tenancy of the building in 2020 from Bell Aliant, making Johnson the direct tenant of Slate Office REIT. Primary tenancy of the building will give Johnson Insurance the rights to name the building, to be called the Johnson Building.
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“St. John’s has been home to Johnson Insurance for 130 years, and we remain committed to being an active and proud part of the city and province,” said Johnson Insurance president Ken Bennett. “We truly appreciate just how incredibly collaborative the City of St. John’s has been to work with.
“The building is a major landmark in the downtown area, anchoring the east end of the commercial core, making it the perfect headquarters for our Canadian operations. Working with Slate Office REIT has also been a very positive experience. Johnson Insurance looks forward to continuing to serve our clients across Canada from where it all began.”
“Johnson Insurance is an important member of the St. John’s community and we are happy to see them taking over primary tenancy of our building,” commented REIT CEO Scott Antoniak. “We are thrilled that Johnson Insurance will continue to be a great tenant of the REIT in downtown St. John’s and look forward to continuing to build our relationship.”
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