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Quebec  + Alberta & Prairies + Ontario  + Industrial  |  July 30, 2024
Photo of Montreal industrial building.
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By: Monte Stewart

AIMCo Acquires Montreal Industrial Portfolio from Pure for $129.2M: JLL

The Alberta Investment Management Corporation has acquired a Montreal-based industrial portfolio for $129.2 million, according to JLL.

The commercial real estate services firm reported that Edmonton-based AIMCo acquired the 455,972-square-foot portfolio from Toronto-based Pure Industrial during the second quarter. According to a published report, the portfolio comprises five buildings altogether.

The purchase price equated to $283.5 per square foot.

In another notable Montreal industrial deal, Groupe Mach sold a 664,218-sf portfolio to Zorg for $136.7 million, or $205.8 psf.

AIMCo and Mach helped the Montreal industrial market post its highest sales volume total, $850 million, since the first quarter of 2021, said JLL in its report.

Pictured: A Montreal industrial building that is part of an industrial portfolio acquired by AIMCo.

Photo: Pure Industrial/AIMCo

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AIMCoPure Industrial

About Monte Stewart

Monte Stewart serves as Content Director - Canada for Connect Commercial Real Estate. Based in Vancouver, British Columbia, Monte provides daily news coverage of major Canadian commercial real estate markets, including Vancouver, Toronto, Montreal and Calgary. He has written about the real estate sector for various media outlets and Avison Young since the early 2000s. In addition, he has covered sports, general news and business for several leading wire services and publications, including The Canadian Press, The Associated Press, The Calgary Herald, The Globe and Mail, Research Money, The Daily Oil Bulletin, Natural Gas World and The Toronto Star. Monte is active in his community as a youth basketball coach and raises funds for such charitable causes as Movember.
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