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.