North side of Galeries de la Capitale sold to local investor
JLL’s Capital Markets and National Retail Investment Group led the sale of sought-after retail complex
MONTREAL, April 19, 2021 – JLL’s Capital Markets and National Retail Investment Group announced today the sale of Galeries de la Capitale Côté Nord, a high-quality retail complex in the Les Rivières borough of Québec City.
The retail plaza counts 6 buildings, totaling 124,196 square feet on 10.6 acres of land. The asset is fully leased to a diverse mix of national and provincial retailers, which include The Brick, Archambault, Golf Town, Corbeil and EQ3.
Owned by Oxford Properties Group, the complex was sold to Group Mach. The main building of the Galeries de la Capitale and Walmart were excluded from this transaction.
“Retail investment is definitely in flux but, as this transaction demonstrates, there is appetite for strategically located retail assets,” said Mark Sinnett, Executive Vice President, Capital Markets, who represented the seller in this transaction.
Matthew T. Smith, head of JLL’s National Retail Investment Group, confirmed: “From a national perspective, the sale of Galeries de la Capitale Cote Nord is indicative of the strong demand from Private Capital for quality retail assets across the country.”
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.
JLL’s National Retail Investment Group consists of a dedicated team of experienced capital markets professionals who specialize in the sale and disposition of retail assets across Canada.
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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.