Recent Significant Sales | Industrial, January 2024

SAINT-LÉONARD – 98 941 sqf

A private investor recently concluded the acquisition of a flex-type industrial property spanning 98,941 square feet, built in 1969 in the Saint-Léonard neighborhood of Montreal. This transaction, valued at $22 million, marks the buyer’s initial venture into the commercial real estate sector, with a purchase price of $222 per square foot.

It is noteworthy that this is the seller’s second industrial building sold in the last 6 months.

GRANBY – 72 298 sqf

January was marked by the acquisition of an industrial building spanning 72,298 square feet by the city of Granby. We can assume that the city intends to redevelop this building given that it was vacant prior to the sale. This transaction signifies the fourth sale of building and land completed by the seller, a private investor, within a span of 2 years.

The transaction for this building, constructed in 1950, was finalized for an amount of $1 million, equivalent to $13.83 per square foot.

SAINT-LAURENT – 56 651 sqf

Last month, a private investor acquired a light industrial building spanning 56,651 square feet, located in the Saint-Laurent neighborhood of Montreal. This building, dating back to 1975, was sold for $12 million, which translates to $211.82 per square foot.