The former Ontera/ON Telecom office building, a North Bay landmark property, has been purchased by Steve and Mark Deacon through Deacon Property Management.
An Ontario Northland spokesperson told Baytoday that, “We are currently finalizing the details of the sale, and hope to be able to complete the transaction by the end of November. We look forward to seeing new activity and business in the building.”
Steve Deacon said the purchase just made good business sense.
“I think esthetically what drew us to it was the fact that it is so beautiful and it has a wonderful history. From an investment perspective, it was the excellent visibility, excellent location, and excellent parking. From a leasing perspective, if I was looking for a place to lease, I would want that location. And if you’re going to own something, it is nice to own something with that level of character and history,” said Deacon.
He has no concerns about getting the property leased.
“We’ve had at least three businesses approach us about the possibility of renting it. So I don’t think having it leased out will be an issue. To be honest, I would sit on it for as long as it would take to get the right tenant,” said Deacon.
“I want something very professional in there. It’s a very professional looking building, and I am in the finance industry, so I always look for something similar because I understand it. So whether it be accounting, or law or something like that.”
This isn’t the first time Deacon considered purchasing the building.
“When someone else got an accepted offer, we thought ‘See? It wasn’t meant to be.’ Then when it got turned down, it looked like it was meant to be,” laughed Deacon.
Both times the building was sold through an auction process.
“Even this time there was a great deal of interest in it. Everybody puts in a bid, and our bid was accepted. It wasn’t that far off what it went for the last time,” said Deacon.
“We want a nice look and a nice feel, and we want a very safe building, and we take a lot of pride in everything we do. We went into purchasing this building with the same regard. We want a nice look and a nice feel.”
Deacon says he liked that the building was well built and cared for over the years.
“We also know that it needs work. There are certain things that we want to do and that will depend on who we get as tenants. But it definitely will be a labour of love. We’re looking forward to spending the time and the energy on it.”
The 9,559 square foot building was sold by auction in April, but the deal fell through.
The property was subsequently put back on the market.
See: Historic ONTC building back on the market
See:Bidding ends today for historical ONR building
The landmark building was built in 1908. It was originally the Temiskaming and Northern Ontario (T&NO) General Office, and is more commonly known as the Ontera/ON Telcom offices.
The building has sat vacant since 2015.
Over the past five years, it has become a popular shooting location for the film industry.
