- What Carrefour Monseigneur-Langlois in Salaberry-de-Valleyfield has changed hands for $33.6m
- Why The deal marks an expansion of Trinity Group’s retail portfolio in Québec
- What Next The company will continue to operate the mall as is
Trinity Group has purchased a fully leased shopping centre in suburban Montréal for $33.6m, Green Street News can reveal.
The sale of Carrefour Monseigneur-Langlois, in Salaberry-de-Valleyfield, closed on Nov. 4. CBRE had the marketing assignment on behalf of the seller, Toronto-based Salthill Capital. The capitalization rate was 6.75%.
The 148,000 sq ft property, on 15 acres at 1396 Monseigneur-Langlois Boulevard, is anchored by IGA and Pharmaprix. Tenants also include Giant Tiger, Énergie Cardio, National Bank and Chico. The weighted average remaining lease term is 4.7 years.
The property, constructed in 1978, has 800 parking stalls. The IGA was added in 2010. Carrefour Monseigneur-Langlois is just off Highway 201, 50 km southwest of Montréal.
Toronto-based Trinity plans to continue operating the property as a strip center, with no immediate redevelopment plans.
