- What A Laval industrial property is on the block for $8.8m
- Why The industrial complex comprises three industrial buildings
- What next The site offers potential for redevelopment
An industrial complex in Laval, Qué., has hit the market at an 8% initial annual yield, Green Street News can reveal.
The 74,000 sq ft property, at 1065 Avenue des Perron in the Auteuil neighborhood, is listed for $8.8m, or $119/sq ft. Michael White Realties has the marketing assignment.
The complex comprises three buildings. The largest, at 51,000 sq ft, is occupied by RGX Logistics, while the smallest, at 9,500 sq ft, is leased to Brian Simms Welding. The buildings were constructed in 1958. The longest lease expires in fall 2026.
A third building, developed in 1976, is vacant.
The property is surrounded by single-family dwellings on three sides and is across the street from a vacant lot. The property is 5 km from Highways 15, 19 and 440, and 10 km from Highway 13.
The sales campaign is targeting owner-occupiers and investors and also highlights the possibility for redevelopment.
A potential buyer is considering developing an indoor sporting facility on the site, but the rezoning permit is pending approval. Current zoning would allow for residential, industrial and outdoor sporting developments.
