365,694-square-foot facility sold in one of Canada’s leading industrial markets
JLL Capital Markets led sale of fully leased logistics hub
MONTREAL, March 24, 2021 – JLL Capital Markets announced today the sale of a Class A logistics hub located at 3055 Anderson Street, in the Terrebonne suburb of Montréal. The sale was concluded with Dream, thereby extending their portfolio in the Montreal region.
Built in 2003 and expanded in 2020, 3055 Anderson is a 365,694-square-foot, state-of-the-art industrial facility and logistics hub fully leased to an exceptional tenant roster in the logistics and aerospace manufacturing sectors.
Strategically located in the 640 West Industrial Park, the property affords efficient access to Montréal, Laval, the North Shore, as well as the Mirabel freight and cargo airport. Montréal’s North Shore industrial market is one of the city’s most competitive with demand far outpacing supply.
Montréal has seen unprecedented growth in recent years, driven by a strong economy underpinned by fiscal discipline, significant public and private infrastructure investment, and a deep and highly qualified labour pool. Demand for Terrebonne industrial space is fast outpacing supply, and in general the demand for industrial space has driven rents upward by over 30% while vacancy is at a low rate of 1.4% (Q4-2020). 3055 Anderson offers tremendous upside rental potential in one of the Greater Montréal Area’s most competitive industrial rental markets.
The JLL Capital Markets team representing the seller includes Executive Vice President Mark Sinnett and Associates Sara Leblanc and Danail Delchev.
“Montréal has been at the forefront of the industrial boom we’ve witnessed lately,” said Mark Sinnett. “The demand for industrial space is far from slowing down and there is a definite appetite for investments in such facilities.”
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether a sale, joint venture, debt or equity financing, advisory or a corporate recapitalization.
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JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion, operations in over 80 countries and a global workforce of more than 91,000 as of December 31, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.