- What A two-lot industrial parcel totaling 318,000 sq ft sold in Montréal
- Why BGO subdivided a larger parcel that it has owned since 1988
- What next New owner Rosefellow plans to build a 172,000 sq ft facility
Rosefellow has acquired two industrial lots in Montréal’s Saint-Laurent borough for $16.4m, Green Street News can reveal.
The lots, on Rue Sartelon, total 318,000 sq ft. The valuation works out to $52/sq ft. The transaction was brokered by CBRE and closed on May 14.
The land was sold by BGO, which has owned the property since 1988 as part of a larger parcel that has been subdivided over the years.
Rosefellow is set to build a 172,000 sq ft mid-bay industrial facility on the site.
The property is 2km from Highway 40, 5km from Montréal–Trudeau International Airport and 15km from the Old Port of Montréal shipping docks, providing access to major transportation routes.
Rosefellow, founded in 2019 by Mike Jager and Sam Tsoumas, has rapidly established itself as a significant player in Montréal’s real estate market. The firm has developed over 14m sq ft of industrial and multifamily projects, including several notable developments in the Greater Montréal Area.
Several industrial deals have taken place in the Montréal area so far this year, according to Green Street’s Sales Comps Database, the largest of which is the $22.5m trade of 315 Boulevard Industriel in Châteauguay. The sale closed on Feb. 17.
