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A logistics center will be created in Montreal East



Every other Thursday, The Press offers a return on what catches the attention in the field of residential and commercial real estate

Montréal-Est will launch a logistics center in the spring, called 40NetZERO, north of Highway 40, on the former grounds of Pétromont.

The only demerged city east of Saint-Laurent Boulevard has 23 million square feet of vacant land, a remnant of its industrial past. Half of the area is still contaminated and that which is not requires major infrastructure work before it can be developed.

“The first shovelful should be done as soon as the ground is thawed because we are going to enter the infrastructure,” said Mayor Anne St-Laurent, who publicly presented the development vision for the city of 4,400 inhabitants on Tuesday, February 21.

It is a former Petromont/Dow Chemicals site with an area of ​​approximately 7 million square feet, already decontaminated, which had been acquired by Loracon before being transferred to the promoter MET-HB I Properties, belonging to Robert Will pay. The City and the developer will share the cost of the infrastructure.

The campus will include approximately 3 million square feet of rental buildings, and a common pavilion will be set up in the heart of the campus. This should include a café-restaurant, conference rooms, a training room, says Julie Larocque, director and coordinator of 40NetZERO.

The newspaper The duty revealed the existence of an energy-efficient business district project in July 2021.

The 40NetZERO site will host a first carbon neutral business park.

Nicolas Dziasko, municipal director of development for the City of Montreal East

“We have the ambition to become one of the first SITES-certified industrial parks in Canada,” he explained in his public presentation. What does it mean ? We adopt the best approaches in land use planning, development, and everything related to the resilience of cities in relation to climate change. These concepts will be translated in a concrete way both in the public space and in the private space with the partner with whom we are doing business. »

With these vacant lots, Montreal East wants to develop three new areas. The area north of Highway 40 will be devoted to logistics, as we have just seen. The area south of Highway 40 and north of Sherbrooke Street would become an industrial ecology technology park. Finally, the fringe located between Sherbrooke Street and Notre-Dame Street would be transformed into a smart neighborhood where knowledge institutions, housing, light industries and leisure and entertainment facilities rub shoulders.

“There is enough room to double the population of Montreal East,” said Mr. Dziasko, in a press scrum. He recalled that no less than 40,000 housing units should be added on the island of Montreal over the next few years.

The sector bordering the river will also be devoted to residential use, with the construction of high-rise multi-residential buildings.

Montreal East is giving itself 30 years to change its face. In the immediate future, the City has undertaken to densify its commercial heart, namely Broadway Avenue. It has invested 14 million to give it a makeover and refurbish the infrastructure. A building with 109 rental units spread over six floors is due to come out of the ground in the spring. On a side lot, a 34-unit condominium is also coming.

A condition sine qua non for this vision to become a reality: Montreal East must be served by the future public transit system in the East with the development of a station which should be located on Sherbrooke Street. The route of the REM de l’Est and the mode of transport that succeeded it does not provide for any stops in Montreal East for the moment, deplores Mayor Anne St-Laurent.

Brasswater wants to buy the pedestrian village of Mont-Tremblant

The looming recession in no way prevents Brasswater from announcing its colors. “I want to buy the village,” Ian Quint, president of Brasswater (formerly Groupe Quint) told The Press. I have a house in Tremblant. I’ve been there three days a week for 25 years. I have experience in retail properties. I want the property to remain in Quebec hands. »


Mont-Tremblant Pedestrian Village

Brasswater notably owns the warehouse stores (outlets) of Saint-Sauveur and Bromont.

The seller is LaSalle Investment Management, a subsidiary of the Jones Lang LaSalle (JLL) group. The seller hopes to get 100 million. He would have paid 68 million in 2018 to acquire the pedestrian village, according to The Journal of Montreal. The listing broker is CBRE. It will launch a call for tenders on March 22, says Ruth Fischer, first vice-president and general manager of CBRE in Quebec.

The property has 66 premises: mainly clothing stores and restaurants. The occupancy rate is 93%. Sales per square foot are around $660. For comparison, the most productive mall in Quebec, the Center Eaton in downtown Montreal, had sales of $983 per square foot in 2019.

Businessman Ray Junior Courtemanche recently made known his desire to acquire the coveted asset. He made a name for himself in the past for having bought the vast lands of Morgan Stanley and Sheldon Gordon in Mirabel in 2011.

Commercial real estate: transactions of 18 billion in 2022

Even though activity came to a standstill in the second half of the year, 2022 was the best year Quebec has seen in terms of transaction volume, expressed in dollars, for commercial real estate properties.

These include shops, restaurants, bars and malls, industrial, land, janitorial facilities, including residences for the elderly.

It sold $18.4 billion worth of commercial properties in 2022, compiled data firm Côté Mercier Service. “This is 42% more than in 2021 in terms of volume, while the year 2021 [volume de 13 milliards de dollars] already showing 80% growth compared to 2020 [7 milliards] “, supports the company in a press release.

“Across all asset classes, the first two quarters of 2022 have been so good that the significant drop in the last half has not had a significant impact on the year as a whole,” says Christian-Pierre Côté. , associated.

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