- What Two industrial buildings in Dorval, Qué., traded for $61.5m
- Why Aéroports de Montréal is expanding its property holdings near the airport
- What next One of the buildings is tenanted by TFI International
Aéroports de Montréal has acquired two industrial buildings from Broccolini for $61.5m, Green Street News can reveal.
The Montréal Trudeau International Airport operator paid $730/sq ft for the combined 85,000 sq ft at 10325 and 10345 Ryan Avenue. CBRE brokered the deal, which closed on March 10.
The buildings, on 11 acres, have 510 feet of frontage on Ryan Avenue. Together, they offer 60 truck-level doors and 17 drive-in doors, with parking capacity for 200 trailers.
At 10325 Ryan Avenue, Broccolini developed a 37,000 sq ft building after acquiring the site in 2021. It comprises 10,000 sq ft of office space and 27,000 sq ft of warehouse space. TFI International is the sole tenant of this building.
The original 1964-built structure at 10345 Ryan Avenue is a single-story, 48,000 sq ft building with 21- to 25-ft clear heights.
The property is just off Highway 520. It is less than 3 km from Highway 13 and Highway 20, and a kilometre from Montréal Trudeau International Airport.
Broccolini purchased the site in 2021 for $27.5m ($327/sq ft) before constructing the new building at 10325 Ryan Avenue.
Aéroports de Montréal is a private nonprofit that manages and operates Montréal Trudeau International Airport. It has been expanding its real estate holdings in the area.
Broccolini, founded in 1949, is one of Québec’s largest construction and real estate development firms. The family-owned company has delivered more than 40 m sq ft of industrial, commercial, institutional and residential projects across Canada.
