Johnson Insurance staying put for 10 more years
Johnson Insurance will be sticking around its Factory Lane location in St. John's for the foreseeable future.
The company signed a 10-year lease Tuesday with Slate Office REIT, a leading owner of office properties in Canada and the largest owner of office properties in St. John's.
Johnson will stay in its current location — formerly known as the Fort William Building — which houses the company's national head office.
"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 for another decade," Ken Bennett, president of Johnson Insurance, said in a statement.
"We truly appreciate just how incredibly collaborative the City of St. John's and the team at Slate has been to work with."
Johnson has a sublease with Bell Aliant, which occupies five of the building's seven floors.
The newly signed agreement has an initial term of 10 years and begins when Bell Aliant's lease ends in November 2020.
The insurance company also has the option to use an extra 40,000 sq. ft. of the building but would have to decide that by the end of 2018.
