- What Place Major, in Terrebonne, Qué., has sold for $20m
- Why CBRE brokered the transaction, which closed on April 9
- What next Salthill Capital is the new owner
A grocery-anchored strip mall on Montréal’s North Shore has traded for $20m, Green Street News can reveal.
Salthill Capital acquired Place Major in the Domaine-du-Boisé neighbourhood of Terrebonne from Groupe Stocan. CBRE brokered the deal, which closed on April 9, with the price translating to a capitalization rate of 6.25%.
Place Major, at 5333 and 5381 Laurier Boulevard, spans 96,000 sq ft. The valuation works out to $208/sq ft.
The property is 98% leased and anchored by Super C. Other tenants include Dollarama, Jean Coutu, Mondou and National Bank. The average remaining lease term is six years.
The strip centre is 4 km from Highway 640 and 35 km from downtown Montréal.
Salthill Capital, formerly Strathallen Capital, manages a portfolio valued at $2.7bn, comprising 9.5 m sq ft of real estate assets across Canada. The company has significant retail holdings and continues to expand via acquisitions of grocery-anchored strip centres.
