Montreal, Quebec, Canada
TRANSACTION TYPE & DETAILSTransaction Date: January 2024 Transaction Type: Sale Property Type: Industrial Size: 375,000 sq. ft. Price: $72,000,000 |
Client Objectives:
- The initial request was to find a parcel of land big enough for purchase with industrial zoning for the construction of a 400,000-square-foot distribution center. XTL Distribution was in the market to increase its footprint in the Montreal Market to accommodate its current clients and new business.
- The main objective was to own a building that can provide temperature-controlled space for specific clients.
Transaction Profile:
- This building will provide temperature-controlled space, heavy duty dock plates, trailer restraints, concrete trucking yard with trailer parking, truck scale, fully fenced-in with controlled gate, C-TPAT certified.
- The building will have a clear height of 40 feet, equipped with ESFR sprinklers.
Challenges
The only challenge was to find a parcel of land large enough and zoned to allow the construction of a 400,000-square-foot distribution center. Industrial land in the Montreal Market is very rare, and when available, zoning is always a major issue as most municipalities are looking for manufacturing and technology-based companies.
Notable Accomplishments
- This project provides visibility to XTL Distribution, as a major player in the 3PL business in the Montreal Market.
- in Quebec, will provide extra space for XTL’s current customers and allow more space for new business.
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