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Recent Significant Sales | Industrial, October 2023

RIVIÈRES-DES-PRAIRIES – 116,277 ft²

  • Skyline Commercial Real Estate (REIT) sold an industrial building with 116,277 square feet, built in 1982, for a total amount of $ 22,5M . The price per square feet is $194. The buyer, a private investor, seized this rare opportunity in the sector, demonstrating sustained enthusiasm and confidence of private investors towards industrial assets. In recent years, the seller has initiated a strategy that prioritizes larger and more modern industrial projects focused on warehousing, distribution, and logistics. This strategy strengthens the weighting of the REIT in these sectors while providing liquidity for future acquisitions.

BROMONT – 473 462 ft²

  • A private investor recently completed a major transaction in Bromont by acquiring an industrial property. The warehouse, with a leasable area of 473,462 square feet, was sold for a total of $110 million. The price per square foot of the warehouse is set at $232, reflecting the intrinsic value of this infrastructure. The buyer, a private investor, seized a unique opportunity to acquire a site that will continue to be occupied by the seller, multinational company IBM, as a tenant (sale lease-back).

VILLE SAINT-LAURENT – 126 596 ft²

  • A significant transaction recently took place in the heart of the industrial sector of Ville Saint-Laurent. Valued at $43.6 million, the property built in 1989 and covering an area of 126 596  square feet was sold by Manulife. The price per square feet for the building, set at $475, reflects the strategic value of this investment.The Toronto-headquartered buyer is optimistic about its strategy, especially given the current state of the market. The CEO and portfolio manager of the real estate investment fund recently stated that they have already identified other potential acquisitions to continue their aggressive acquisition plan.

For more information on significant transactions, contact the PMML team

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