- What Two mixed-use complexes in Québec City have traded
- Why A joint venture between Oktodev and Debertin paid $116/sq ft
- What next The properties will be rebranded
Immeubles Roussin sold two adjacent mixed-use complexes in Québec City’s Des Rivières borough last month for $23.9m, Green Street News can reveal.
A joint venture between Montréal-based Oktodev and Debertin of Québec City acquired the properties for approximately $116/sq ft. CBRE had the marketing assignment. The deal closed on Sept. 9.
The two-storey properties each have a mix of industrial, retail and office space across 98 rental units combined. The complex at 925-965 Avenue Newton totals 116,000 sq ft and was built in 1988. It’s 90% occupied.
The other, at 3023-3095 Wilfrid-Hamel Boulevard, spans 89,000 sq ft and was built in 1979. It has an 86% occupancy rate.
The properties are close to the Robert-Bourassa and Henri-IV highways as well as public transportation.
Oktodev primarily develops multi-residential properties but also owns industrial and mixed-use assets. It is active in Gatineau, Montréal, Ottawa and Québec City. Debertin is a developer and brokerage.
Article updated at 2:28 p.m. ET on Oct. 29, 2024, to reflect the occupancy rates of the complexes.
