Colliers International (Québec) Inc. Finalizes the Sale of Carrefour Côte-des-Neiges for $ 25.7 M

Colliers International (Québec) Inc., a leading commercial real estate firm in Montréal, finalizes the sale of Carrefour Côte-des-Neiges located at 5700 Côte-des-Neiges for $25.7M.

This 92,000 square foot, five-storey building is well known to house the CLSC of Côte-des-Neiges. It is in close proximity to three hospitals including the Jewish General Hospital, St. Justine’s Hospital, and St. Mary’s Hospital. The property is fully leased to a strong mix of tenants including the CLSC which occupies 80% of the space, a pharmacy, Blockbuster and a branch of Royal Bank of Canada.

In the Côte-des-Neiges borough, an established commercial and residential area a short distance from downtown Montreal, the building is strategically located.
The transaction was completed by Joe Lomanno, Vice President Investments for Colliers International (Québec) Inc. He was the exclusive broker representing both the seller, 
Steltek Inc. and the purchaser, Gazit America Inc.
‘Location and long-term tenants were key elements to closing this transaction" commented Joe Lomanno. This acquisition follows the purchaser’s strategy of acquiring medical office properties in order to grow their portfolio and mark their first transaction in the Montreal real estate market’’.

on February 3, 2011