Royal LePage Peifer Realty purchases 425 McNaughton Ave. E.
In an example of a private/non-profit sharing of space, Royal LePage Peifer Realty has purchased the Chatham-Kent Nonprofit Centre.
The deal closed Jan. 31, and the realty company hopes to move in by March 1.
Meanwhile, the United Way of Chatham-Kent and its subtenants won’t be going anywhere, as the non-profit groups will occupy one side of the building and become tenants, while Peifer Realty takes over ownership and occupies the other half of the building.
Kristen Nead, broker/managing partner for Peifer Realty, said the team is looking forward to the new location. They’ve been on Raleigh Street for about 45 years – longer than Nead has been alive.
“We’re really excited about the move. We’re happy to be sharing our space with the United Way of Chatham-Kent. They’re going to be community partners moving forward,” she said. “We really enjoyed our time on Raleigh Street, but we have over 45 realtors. Parking at times is a bit of an issue here.”
Add to that the fact Peifer Realty is not only the largest realty firm in C-K, but also does the most business, meaning traffic in and out with clients can create added congestion.
With the spot on McNaughton Avenue West, Nead said the new location also offers a higher profile space.
“We wanted a more prominent space. And it provides us with a better layout for a collaborative space,” Nead said.
Nead said Peifer Realty hopes to be in the new location March 1. There will be some renovation work needed, followed by painting.
She wished to remind the public the United Way and its non-profit subtenants aren’t going anywhere.
“We’re just changing the name of the building. It’s not like they are not going to operate anymore,” she said.
According to UWOCK officials, they have operated out of the building for “many” years, and in 2018 changed the building’s name from The 425 to the Chatham-Kent Nonprofit Centre.
What is changing is the availability of space for external rentals.
“The catalyst for the change were changes in community needs and how we use the space,” UWOCK CEO Barb Palace said in a media release. “The change also enables us to concentrate on the core work of the United Way in our community.”
She added the change will allow UWOCK personnel to “focus on our work supporting community, and away from the building maintenance required as a landlord. Royal LePage Peifer Realty is a wonderful community partner who understands and supports the work that United Way and the other tenants will continue to do from these offices. We look forward to sharing their new home.”
Meanwhile, the Chatham-Kent Association of Realtors will soon be moving out of the building, according to a social media post by the association.
“According to our policies, the board will not make any future moves to a property owned directly, indirectly, or occupied by any real estate office. Therefore, we are unable to continue our two years remaining on our lease agreement with UWOCK,” the post said. “CKAR will begin the process of temporarily working remotely, and will be vacating the premises fully by May 31. This matter was discussed at our broker of record meeting last week and a taskforce was created to explore all options of the future location of CKAR.”
