- What The three properties near downtown Montreal sold on Aug. 21
- Why All three buildings are fully occupied
- What next The properties are beside a highway and close to downtown
Groupe Mach has picked up an office complex in downtown Montréal for $67m, Green Street News can reveal.
The complex was sold by BentallGreenOak on Aug. 21, and the valuation works out to roughly $173/sq ft. The properties are at 1600 and 1616 René-Lévesque Boulevard West and 980 Guy Street.
1600 René-Lévesque is a 17-storey, Class-B office building comprising 257,000 sq ft. Built in 1950, the building is fully occupied. Tenants include a Canadian Forces Recruiting Centre.
1616 René-Lévesque rises three stories and was built in 1948. The 91,000 sq ft building is occupied by the Montréal campus of Herzing College.
980 Guy is a six-storey office building home to an operational centre of the Montréal Police. The building, built in 1949, covers 40,000 sq ft.
The properties are beside the Ville-Marie Highway and a few blocks from Montréal’s business district. The Lucien-L’Allier train station and Guy-Concordia Metro station are each about 500 m away.
According to a Q2 Colliers report, Montréal’s downtown continues to improve, with a positive absorption of 233,000 sq ft in the quarter. The vacancy rate decreased by 40 basis points year over year to 17.1%.
