nordelec flyer draft - bingmetro lines, the downtown core and the suburbs of verdun and lasalle is...
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LE NORDELECMONTRÉAL, QUÉBEC
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INVESTMENT OVERVIEW
On behalf of 9277-6533 Québec Inc. and 9143-7459 Quebec Inc. (the “Vendor”), subsidiaries of Elad Canada Inc., Jones Lang LaSalle Real Estate Services Inc. (the “Advisor”) is pleased to off er for sale a 100 percent freehold interest in the offi ce and retail portions of Le Nordelec (the “Property”). Formerly the home of the Northern Electric Company Limited, Le Nordelec dominates Montréal's south-west district and is one of the city’s most recognizable buildings.
Built in several phases between 1913 and 1948, the approximately 790,000-square-foot brick facility – one of the largest of its kind in North America – has been carefully restored and converted into an impressive multi-purpose city within a city. It features eight storeys of loft-style offi ce accommodation, a retail concourse and four condominium wings (which are excluded from this sale). Over 2,300 people already live and work in this Montréal icon, with the population expected to grow signifi cantly as the project expands.
Occupying approximately half of the city block bordered by Richardson Street, Shearer Street, and Saint-Patrick Street, the Property is strategically located less than 10 minutes away from Montréal’s Central Business District, adjacent the trending and gentrifying Griffi ntown area.
Designed as a small-business incubator, Le Nordelec boasts a diverse mix of high-quality tenants and established covenants, which include Uber, Yellow Media, GSoft, The Interpublic Group (Foote, Cone & Belding) and Keywords Studios to name but a few.
Le Nordelec represents a unique opportunity to acquire a prestigious historical landmark at the forefront of innovation and creativity, all in the world-class city of Montréal.
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INVESTMENT HIGHLIGHTS
GRIFFINTOWN, THE POINTE AND LACHINE
CANAL: EXCEPTIONAL GROWTH AND
DEVELOPMENT
Le Nordelec is located in one of Montréal’s trendiest and fastest-gentrifying areas, encompassing Griffi ntown, Pointe-Saint-Charles and the Lachine Canal. Only a few minutes from Montréal’s downtown core, this historically industrial area is transforming at a rapid pace as waterfront properties are developed into condominiums and old industrial facilities are repositioned as state-of-the-art loft offi ce spaces. The area is without a doubt one of the most popular among young professionals, visionary entrepreneurs and innovative creatives, and there is an ever-expanding array of hip, high-quality restaurants and eclectic, original boutiques to respond to the increased demand for services. The proximity to the downtown core and Old Montréal will ensure the continued popularity of the area.
OUTSTANDING AND UNIQUE BRICKAND
BEAM CONSTRUCTION
Le Nordelec is one of North America’s largest brick-and-beam constructions and is known for its distinct red brick façade which dominates this part of Montréal. The restoration and development of the Property has successfully merged past and present and transformed it into a highly sought-after live-work-play environment. The warm red brick walls combined with high vaulted ceilings and hard wood and polished concrete fl oors provide unique loft-style offi ce accommodation close to the downtown core and trendy Griffi ntown.
1000 de la Gauchetière Street
Notre-Dame Street
Richardson Street
Saint-Patrick Street
Augustin Cantin Street
Centre StrIsland Street
Downtown Core
Place Ville-Marie
Sun Life Building
Bell Center
Deloitte Tower
KPMG Tower
McGill University
Laprairie Street
Griffi ntown
Pointe-Saint-Charles
Stock Exchange Tower
Lachine Canal
Wellington Street
Old Montréal
reet
Shearer Street
Jacques Cartier Bridge
Port of Montréal
Olympic Stadium
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INVESTMENT HIGHLIGHTS
A HIGHTECH AND CREATIVE HUB
Le Nordelec was conceived as a small-business incubator and therefore benefi ts from a strong, synergistic, and diverse mix of tenants. The tenant profi le is concentrated within the high-tech and creative industries: industry-leading software and gaming companies, cutting-edge marketing fi rms, and innovative graphic design and architecture businesses. Among the key tenants there are Uber, Yellow Media, GSoft, Keywords Studios, Soft Choice, and The Interpublic Group (Foote, Cone & Belding).
EXCELLENT LEASING VELOCITY
Le Nordelec has seen tremendous leasing velocity in recent years, averaging approximately 70,000 square feet per annum. The Property is currently 70 percent leased and, with the continued demand for loft offi ce space, investors have the opportunity to maximize Le Nordelec’s tenancy. Furthermore, investors will benefi t from the increasing net rental rates which were achieved in recent years as well as the potential for rental growth as older tenancies roll over in the next fi ve years. To this, we add the income which will be provided by the signifi cant rental steps which are built into the leases.
RETAIL UPSIDE OPPORTUNITY
A full retail concourse has been constructed to benefi t both offi ce and residential occupants of Le Nordelec as well as residents of the neighbouring condominium projects. The 34,000 square feet of retail space, complete with state-of-the-art loading docks, fronts onto Saint-Patrick Street and have been designed to accommodate a grocery store as well as complimentary uses such as dry-cleaning services, a coff ee shop and restaurants, all accessed from a spacious internal concourse with informal seating. Future investors will have the opportunity to shape the retail opportunity through the careful selection of retailers, that will be attracted by the large number of offi ce and residential occupants as well as the growing population of local residents in neighbouring condominium projects.
ATTRACTIVE MARKET CONDITIONS
Le Nordelec off ers investors the opportunity to place capital in one of the most dynamic cities in North America and one of the world’s most stable economies. Montréal is benefi ting from a manufacturing and export-driven lift to the Québec economy and Québec’s real GDP is forecasted to substantially outperform the Canadian national average through to the end of 2016 and into 2017.
GREAT BICYCLE ACCESS
SEAMLESS HIGHWAY ACCESS
BUSES 57, 61, 71 AND 107
CHARLEVOIX METRO
TWO BIXI STANDS ADJACENT LE NORDELEC, PROXIMITY TO THE LACHINE CANAL, AND ON
SITE BICYCLE STORAGE
A 5MINUTE DRIVE AWAY FROM HIGHWAYS 10, 15, AND 20 VIA WELLINGTON STREET
RUN IMMEDIATELY IN FRONT OF LE NORDELEC AND CONNECT TO THE GREEN AND ORANGE
METRO LINES, THE DOWNTOWN CORE AND THE SUBURBS OF VERDUN AND LASALLE
IS ONLY A 10MINUTE WALK AWAY, WHILE BUSES CONNECT TO LASALLE, PEEL,
BONAVENTURE, GUYCONCORDIA, LIONELGROULX AND ATWATER METRO STATIONS
DISCLAIMER© 2016 Jones Lang LaSalle, Inc. All rights reserved. All information contained herein is from sources deemed reliable; however, no representation or warranty is made to the accuracy thereof.Jones Lang LaSalle Real Estate Services, Inc.Real Estate Agency
For further information, please contact:
JLL Inc.Real Estate Agency
1 Place Ville-Marie, Suite 3838Montréal, Québec, H3B 4M6
T. + 1 514 849 8849www.jll.ca
Scott Speirs *
Vice PresidentCapital Markets
+ 1 514 667 [email protected]
Joseph von Maltzahn * MRICSAssociate Vice President
Capital Markets+ 1 514 667 5699
Matt Picken **
Executive Vice PresidentCapital Markets
T. + 1 416 304 [email protected]
Bryce Gibson **
Senior Vice PresidentCapital Markets
T. + 1 416 238 [email protected]
Lucy Fletcher ** MRICSManaging Director
International Capital GroupT. + 1 312 228 2481
lucy.fl [email protected]
* Real Estate Broker** Sales Representative