- What An aircraft engine maintenance facility traded last month for $201/sq ft
- Why FTAI Aviation bought the property to enhance its maintenance services
- What next The deal included the facility and equipment
Lockheed Martin Canada sold an aircraft-engine maintenance-repair facility in Montréal’s Saint-Laurent borough last month for $53.3m, Green Street News can reveal.
New York-based FTAI Aviation bought the 526,000 sq ft facility for $201/sq ft. RBC Capital Markets brokered the deal, which closed on Sept. 9 and included the property and equipment.
FTAI said the deal enhances its maintenance, repair and exchange business, allowing it to provide additional maintenance services to airline customers. The facility will be rebranded FTAI Aviation Canada.
The property is on 20 acres at 7171 Boulevard de la Côte-Vertu,1.5 km from the Montréal-Pierre Elliott Trudeau International Airport. Downtown Montreal is 15 km east.
