- What ASG Equities is selling a mixed-use development site on Sainte-Catherine Street West
- Why The site offers significant development potential in a prime retail corridor
- What next CBRE has the marketing assignment
ASG Equities is floating a prime development site in the heart of Montréal’s central business district for $15m, Green Street News can reveal.
CBRE has the marketing assignment for the 9,400 sq ft parcel, at 682-696 Sainte-Catherine Street West, which has 103 ft of frontage along the city’s premier retail corridor.
The site allows for up to 84,000 sq ft of buildable area, with height restrictions ranging from 14 m to a maximum of 65 m. The valuation works out to approximately $179/buildable sq ft.
The property offers significant development potential in one of downtown Montréal’s most sought-after locations. Zoning requires commercial use on the ground floor, while the remaining floors permit residential, office or hotel development.
The site is directly across from the Montréal Eaton Centre and the upcoming McGill REM station, part of Montréal’s new light-rail transit network. It is close to McGill University and is surrounded by major retail brands including Apple, Birks, Holt Renfrew, Lululemon, Nike, Sephora and Uniqlo.
ASG Equities, based in New York City, is the real estate family office of the Gindi family. It was founded in 1970 and owns 6.5m sq ft of predominantly retail and industrial real estate.
