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Slate Office REIT has completed a 154k SF lease deal with Johnson Insurance at the renamed Johnson Building at 10 Factory Lane in St. John’s, NL. Johnson Insurance currently occupies five floors of the seven-storey building (its HQ) through a sublease arrangement with Bell Aliant, which leases 100% of the building. The new Johnson lease has an initial term of 10 years and commences upon expiry of Bell Aliant’s head lease in November 2020. The new lease provides Johnson Insurance an option to occupy an additional approximately 40k SF in the Johnson Building. Slate is the largest office property owner in St. John’s.
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