On June 29, 2021, Skyline Commercial REIT, along with its partners, developer Rosefellow and Quebec-based FIT Ventures, held a groundbreaking ceremony for two new industrial/logistical development projects on the Island of Montreal, which began construction earlier this year:
- 151 Avenue Reverchon, Pointe-Claire, Quebec – a 325,000 SF build
- 8300 Place Marien & 11235 Boulevard Metropolitain Est, Montreal, Quebec – a 250,000 SF build
The developments are owned by Skyline Commercial REIT in partnership with Rosefellow and FIT Ventures.
“Skyline Commercial REIT’s current development focus allows us to build a pipeline of product for investment that we believe to be best-in-class, in the best locations, and at the best price,” said Michael Mackenzie, President, Skyline Commercial REIT.
“Through developing purpose-built Class A assets in underserved major markets, we are able to meet the specific requirements of the new supply chain, fulfill rising tenant demands, and potentially increase value for Skyline Commercial REIT investors.”
In addition to the Avenue Reverchon and Boulevard Metropolitain Est developments, Skyline Commercial REIT has formally partnered with Rosefellow and FIT Ventures in launching a $100M industrial development fund in Quebec. This partnership, RF Limited Partnership I, was featured on RENX.ca news earlier this year. To learn more about Skyline Commercial REIT developments, visit SkylineCommercialREIT.ca.
Through this investment, Skyline Commercial REIT and its fund partners aim to supply roughly 2 million square feet of sought-after new industrial/logistical development to the Montreal area over the next two to three years.
Skyline Commercial REIT identified Montreal as an underserved major market where the demand for logistics and warehousing facilities is very strong and current vacancy rates are historically low.