The Colliers Montreal industrial team received a mandate to sell or lease a 31,250 SF property located at 500 Morgan Blvd, in Baie d’Urfé, a city in Montreal’s West Island.
A family business specializing in highly specialized, high tech teleconferencing solutions, John McAllister Holdings Inc. knew that relocating the company’s place of business would be quite complex and expensive. The ideal situation would be to sell the property and lease back the space needed to pursue its operations.
The biggest challenge thus lay in securing a purchaser who would be willing to enter into a sale-and-lease-back deal of half of the building’s area. The configuration of the property was also particular in that it was comprised of an uncommonly large proportion of office vs. warehouse space, 50%.
After carefully assessing all challenges that this mandate represented, the Colliers team performed an extensive market research to find the most suitable purchaser and secure a winning deal.
As a result, Colliers negotiated a favorable deal structure for an office furniture company that purchased the building and leased back half of the space to the Vendor, a win-win situation for both parties.
Service line: Brokerage, Industrial
Advisors: Jean-Marc Dubé, Arnold Fox, Norm Laff, Vincent Iadeluca, Nicholas Payette