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For Sale: Last-Mile, 32’ Clear Height Distribution Facility Fully Leased to Amazon - #1
For Sale: Last-Mile, 32’ Clear Height Distribution Facility Fully Leased to Amazon - #2
For Sale: Last-Mile, 32’ Clear Height Distribution Facility Fully Leased to Amazon - #3
For Sale: Last-Mile, 32’ Clear Height Distribution Facility Fully Leased to Amazon - #4

3399 Avenue Francis-Hughes, Laval, QC

Colliers International (the “Agent”) has been retained by Francis-Hughes Coinvest GP (the “Vendor”) as exclusive agent to arrange for the offering and sale of a 100% freehold interest of an approximately 10.97 acres site improved with an approximately 119,808 SF single tenant industrial logistics facility, municipally described as 3399 Avenue Francis-Hughes, Laval, QC (“the Property”).

The Property is 100% leased to Amazon Canada Fulfillment Service (the “Tenant” or “Amazon”) and operates as an integral part of Amazon’s distribution network serving as the last-mile, distribution facility, in the Laval sub-market of Montreal.

The Property is an ideal high-throughput facility offering: clear heights of 32’, a “cross-dock” design with 6 dock level and 7 grade level shipping/roll-up doors along multiple elevations, and a low building to lot coverage ratio of 25% with a fully asphalted yard providing substantial trailer/van parking stalls. Prior to Amazon taking occupancy in 2020, over $22M was invested to improve and modernize the Property for the Tenant’s operations. Replacement costs for the Property are estimated to exceed $50M and land value alone is estimated to exceed $33M. The Property is anticipated to sell at a substantial discount to replacement costs.

The Property is located in the Laval sub-market of Montreal and is within close proximity to Hwy’s A440, A15 & A19 providing quick and convenient access to the broader Greater Montreal Area (GMA). Laval is the second largest sub-market in the GMA with a population of over 445,000. The Laval industrial market generally comprises of newer buildings compared to the broader GMA, making it a desirable location for multi-national distribution tenants. As evidence of the desirability of the sub-market, average asking rents are consistently ±$1.00 PSF higher in Laval compared to the GMA ($14.80 net PSF compared to $13.77 net PSF as of Q2 2022).

The Property is leased to Amazon on a long-term basis at contractual rents estimated to be +/- 50% below market. This offering represents an opportunity to acquire a unique last-mile, distribution facility, with income stability from a strong covenant Tenant and future rental upside at expiry.

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