Fiera Properties acquires largest Montreal industrial portfolio in five years

The nine-property portfolio is comprised of approximately 925,000 square feet of leasable space

By
Western Investor
April 24, 2018





jll canada

 

A Winnipeg-based investment company has sold a nine-property portfolio in Montreal, marking the city’s largest industrial transaction in five years.

Fiera Properties acquired 925,807-square-feet of industrial property from Investors Group Trust Co., for an undisclosed amount. The sale was brokered by JLL Canada.

The portfolio includes mostly Class A industrial buildings ranging in size from 50,000 to 250,000 square feet.

“The Portfolio benefits from an outstanding roster of tenants and features a 91 per cent occupancy rate and an [average lease rate term] of six and a half years,” the JLL Canada release states.

 JLL considers the sale the largest industrial transaction in the Greater Montreal Area since 2013.


Tanya is a recent graduate of Langara College's journalism program and spent a summer freelancing for The Burnaby NOW and The Record, following a reporting internship with the publications. She joins Western Investor as an editorial assistant. Very much a millennial, she sees the irony in writing about real estate she will likely never be able to afford.
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