- What A small-bay property in the Plateau Mont-Royal borough has traded for $6.2m
- Why The property last changed hands in 2013 for $3.2m
- What next The property is 64% occupied
Axwood has acquired a small-bay industrial building in Montréal’s Plateau Mont-Royal borough for $6.2m, Green Street News can reveal.
Avison Young brokered the sale of 5061-5075 Rue Fullum, which closed on Oct. 25. The valuation for the 65,000 sq ft property works out to $95/sq ft and translates to a 5% initial annual yield.
The private seller bought the property in 2013 for $3.2m.
The building is 64% occupied by two tenants with a weighted average lease term of four years. Nikon has 43% of the space, and Socceroof occupies 21%.
The property is 3 km from the Ville-Marie Highway, connecting to Highway 20, and 12 km southeast of Highway 440.
