Top Transactions of the Month
Top Transactions for August
Multifamily | BRIVIA Group Sells Phase 2 of LB9 Rental Condo Project
July was marked by a notable transaction in the Capitale-Nationale region. MC Properties acquired a 15-story multifamily building at 7755 rue des Métis, in the Lebourgneuf neighborhood, for $56.4 million. This building of 218 units represents Phase 2 of the LB9 project developed by Brivia Group. More details in this video.
Industrial | Amazon buys land for future distribution center built by Broccolini
Amazon acquired a 917,000-square-foot plot of land on Chemin de l’Énergie in Varennes for $41 million. This site, formerly occupied by Mométal Structures, was purchased in 2021 by Broccolini, who will develop a state-of-the-art distribution center for Amazon, consisting of a 398,000-square-foot building with 45 loading docks. Amazon is strengthening its presence in the Greater Montreal area with this fourth distribution center.
Office | Bluestone Acquires Office Building in Côte-des-Neiges
Bluestone Group recently acquired a five-story office building in the Côte-des-Neiges neighborhood of Montreal for $13.3 million. Built in 1963, the building totals 48,100 square feet. For all the details on this acquisition and the key players involved, check out our Instagram reel.
Retail | PMML Assists Groupe Ferron in Selling a Branch
Groupe Ferron recently sold its building on Molson Street in the Rosemont neighborhood of Montreal, with the assistance of one of our PMML brokers. The 51,000 square foot building, home to the Odessa Poissonnier branch, was acquired by Mesdav Properties for $12.2 million. More information here.
Land | Mondev Sells 5 Lots in Laval
Mondev recently sold five industrial lots in Laval, totaling 665,000 square feet, for $24.25 million. The acquisition, made by the hardware store chain Canac, is strategically located near A440 and Route 117 in the Fabreville sector. This transaction marks an important step for Canac, as it continues to expand its real estate assets. Watch the video.
Latest Market Velocity Stats
Multifamily
July 2024 stands out for its sustained activity, defying the usual summer slowdown. A total of 2,520 transactions were recorded over the past 12 months in the provincial multifamily market, marking a quarterly increase of 21% and an annual growth of 32%. In terms of investment volume, it reached $4.87 billion over the same period, reflecting a quarterly rise of 19%.
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The profitability of multifamily properties remains highly attractive, with the median capitalization rate (cap rate) steadily increasing since January 2024, reaching 4.22% in July 2024, up from 4.15% at the beginning of the year. Active investors also benefit from a notable appreciation in property values, with the median cost per unit up 10% year-over-year, standing at $143,000 per unit in July 2024.
Industrial
The industrial real estate market experienced a slight decline in the number of transactions over the past year, dropping from 817 cumulative sales in July 2023 to 798 in July 2024. However, following a period of declining investment volume from July 2023 to last February, a recovery has begun, reaching $3.05 billion in transactions by July 2024, a quarterly increase of 25%. Industrial properties continue to appreciate across the province, with the average price per square foot reaching $185 in July 2024, representing a 9% increase over the past year.
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Office
Activity in the office real estate market continued to grow over the last quarter, reaching 483 transactions over a 12-month period by July 2024, which represents a 42% annual increase and a 6% quarterly rise. The investment volume also progressed, increasing by 15% in one quarter to $1.058 billion by July 2024. However, a slight decrease in the price per square foot was observed in July 2024, settling at $248 compared to $250 in June 2024.
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Retail
The retail real estate market saw a decrease in the cumulative 12-month investment volume across the province, down 18% year-over-year, reaching $1.76 billion by July 2024. The number of transactions also slightly declined by 2% over the same period but rebounded in the last quarter, showing a 14% increase with 981 transactions accumulated over 12 months by July 2024. Over the past year, the average price per square foot of commercial properties fluctuated, settling at $223 in July 2024 after peaking at $228 per square foot in June.
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Land
The number of land sales experienced steady growth over the past year, as illustrated in the chart below. By July 2024, 3,351 sales were recorded over the previous 12 months, representing a 41% increase from the previous year. The investment volume also followed an upward trend, reaching $2.89 billion in July, a 31% increase year-over-year. However, the average price per square foot for land showed more volatility, settling at $53 in July 2024, compared to $45 a year earlier.
Click on the image to see the full graphic
Articles connexes
Top Transactions of the Month
Top Transactions for August
Multifamily | BRIVIA Group Sells Phase 2 of LB9 Rental Condo Project
July was marked by a notable transaction in the Capitale-Nationale region. MC Properties acquired a 15-story multifamily building at 7755 rue des Métis, in the Lebourgneuf neighborhood, for $56.4 million. This building of 218 units represents Phase 2 of the LB9 project developed by Brivia Group. More details in this video.
Industrial | Amazon buys land for future distribution center built by Broccolini
Amazon acquired a 917,000-square-foot plot of land on Chemin de l’Énergie in Varennes for $41 million. This site, formerly occupied by Mométal Structures, was purchased in 2021 by Broccolini, who will develop a state-of-the-art distribution center for Amazon, consisting of a 398,000-square-foot building with 45 loading docks. Amazon is strengthening its presence in the Greater Montreal area with this fourth distribution center. More details about this transaction here.
Office | Bluestone Acquires Office Building in Côte-des-Neiges
Bluestone Group recently acquired a five-story office building in the Côte-des-Neiges neighborhood of Montreal for $13.3 million. Built in 1963, the building totals 48,100 square feet. For all the details on this acquisition and the key players involved, check out our Instagram reel.
Retail | PMML Assists Groupe Ferron in Selling a Branch
Groupe Ferron recently sold its building on Molson Street in the Rosemont neighborhood of Montreal, with the assistance of one of our PMML brokers. The 51,000 square foot building, home to the Odessa Poissonnier branch, was acquired by Mesdav Properties for $12.2 million. More information here.
Land | Mondev Sells 5 Lots in Laval
Mondev recently sold five industrial lots in Laval, totaling 665,000 square feet, for $24.25 million. The acquisition, made by the hardware store chain Canac, is strategically located near A440 and Route 117 in the Fabreville sector. This transaction marks an important step for Canac, as it continues to expand its real estate assets. Watch the video.
Dernières stats sur la vélocité du marché :
Multilogement
Le mois de juillet 2024 se distingue par une activité soutenue, défiant le ralentissement estival habituel. Au total, 2 520 transactions ont été enregistrées au cours des 12 derniers mois sur le marché du multilogement à l’échelle provinciale, marquant une augmentation trimestrielle de 21 % et une progression annuelle de 32 %. En termes de volume d’investissement, celui-ci s’élève à 4,87 milliards de dollars sur la même période, reflétant une hausse trimestrielle de 19 %.
Click on the image to see the full graphic
La profitabilité des immeubles multilogements demeure très attractive, avec un taux global d’actualisation (TGA) médian en constante progression depuis janvier 2024, atteignant 4,22 % en juillet 2024, contre 4,15 % en début d’année. Les investisseurs actifs bénéficient également d’une appréciation notable de la valeur des immeubles, avec un coût par logement médian en hausse de 10 % sur un an, s’établissant à 143 000 $ par logement en juillet 2024.
Industriel
Le marché des immeubles industriels a connu une légère baisse en termes de nombre de transactions au cours de la dernière année, passant de 816 ventes cumulées en juillet 2023 à 798 ventes en juillet 2024. Toutefois, après une période de déclin du volume d’investissement de juillet 2023 à février dernier, une reprise s’est amorcée, pour atteindre 3,05 milliards de dollars transigés en juillet 2024, soit une augmentation trimestrielle de 25 %. Les immeubles industriels continuent à s’apprécier à l’échelle de la province, avec un prix par pied carré se chiffrant à 185$ en moyenne en juillet 2024, ce qui représente une hausse de 9% en un an.
Click on the image to see the full graphic
Bureau
L’activité sur le marché des bureaux a continué de croître au cours du dernier trimestre, atteignant 483 transactions sur une période cumulative de 12 mois en juillet 2024, ce qui représente une hausse annuelle de 42 % et une augmentation trimestrielle de 6 %. Le volume d’investissement a également progressé, augmentant de 15 % en un trimestre pour atteindre 1,058 milliard de dollars en juillet 2024. Cependant, une légère diminution du prix par pied carré a été observée en juillet 2024, s’établissant à 248 $, contre 250 $ en juin 2024.
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Commerce de détail
Le marché immobilier des commerces de détail a enregistré une baisse du volume d’investissement cumulé sur 12 mois à l’échelle provinciale, avec une diminution de 18 % en un an, s’établissant à 1,76 milliard de dollars en juillet 2024. Le nombre de transactions a également légèrement reculé de 2 % sur la même période, mais a rebondi au dernier trimestre, enregistrant une hausse de 14 %, avec 981 transactions cumulées sur 12 mois en juillet 2024. Au cours de l’année écoulée, le prix moyen par pied carré des immeubles commerciaux a fluctué, se fixant à 223 $ en juillet 2024, après un pic de 228 $ par pied carré en juin.
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Terrain
Le nombre de ventes de terrains a connu une croissance soutenue au cours de l’année écoulée, comme l’illustre le graphique ci-dessous. En juillet 2024, 3 351 ventes ont été enregistrées sur les 12 derniers mois cumulés, marquant une augmentation de 41 % par rapport à l’année précédente. Le volume d’investissement a également suivi une tendance haussière, atteignant 2,89 milliards de dollars en juillet, soit une progression de 31 % sur un an. En revanche, le prix moyen par pied carré des terrains a montré une évolution plus volatile, s’établissant à 53 $ en juillet 2024, contre 45 $ un an plus tôt.
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