JLL negotiates sale of Montreal self-storage portfolio

MONTREAL, Nov. 20, 2017 – JLL's Capital Markets experts today announced the firm completed the sale of a self-storage portfolio located in Montreal, Quebec. Montreal Mini-Storage Group purchased the two-property portfolio from Dalfen American Corp.

Managing Directors Steve Mellon, Brian Somoza and Robert MacDougall led the JLL team on the transaction.

"Strong surrounding demographics, quality construction and busy retail locations made this an attractive offering and should result in a solid investment for Montreal Mini-Storage Group," said Mellon.

The Class A properties total approximately 169,000 rentable square feet and more than 1,300 units. Both facilities include climate controlled units, move-in ready office suites, warehouse spaces, electronic access control, 24-hour video surveillance, retail-oriented customer service offices and temperature controlled loading docks.

Converted to a self-storage facility in 2006, the property at 8925 St. Laurent Blvd. is in a densely populated area with more than 546,500 people within a five kilometer radius of the asset.

The property at 2707 Dollard Ave., in the Montreal borough of LaSalle, was converted to a self-storage facility in phases between 2006 and 2009. It is prominently displayed along Dollard Avenue, which has traffic counts of more than 20,000 cars per day.  

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, financing, repositioning, advisory or recapitalization execution. In 2016 alone, JLL Capital Markets completed $145 billion in investment sale and debt and equity transactions globally. The firm's Capital Markets team comprises more than 2,000 specialists, operating all over the globe.

For more, please visit The Investor, an online and mobile app news source providing real-time commercial real estate news to asset buyers and sellers around the world.

For more content including videos and research resources on JLL, please visit the firm's U.S. media center Web page: http://bit.ly/18P2tkv.

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. A Fortune 500 company, JLL helps real estate owners, occupiers and investors achieve their business ambitions. In 2016, JLL had revenue of $6.8 billion and fee revenue of $5.8 billion and, on behalf of clients, managed 4.4 billion square feet, or 409 million square meters, and completed sales acquisitions and finance transactions of approximately $145 billion. At the end of the third quarter of 2017, JLL had nearly 300 corporate offices, operations in over 80 countries and a global workforce of over 80,000. As of September 30, 2017, LaSalle Investment Management had $59.0 billion of real estate under asset management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit ir.jll.com.