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U.S.-based Equinix REIT has purchased a Montreal-area data centre for $121.5 million.

Equinix REIT Acquires Montreal Data Centre for $121.5M

U.S.-based Equinix REIT has purchased a Montreal-area data centre for $121.5 million.

The 575,795-square-foot property is located along the Trans-Canada Highway near Highway 13 in Saint-Laurent, Que. The property sold for $211 per square foot.

The deal closed in the third quarter of 2023. Morguard reported the transaction in its 2024 Canadian commercial real estate market outlook.

Silicon Valley-based Equinix is the parent of the company of the same name, which serves as a global data centre provider and bills itself as the world’s largest digital infrastructure company. The property houses Hypertec’s Canadian headquarters.

Hypertec is a Canadian-owned, end-to-end global technology provider.

The deal reflects ongoing strong investor appetite for data centres in Quebec and the rest of Canada.

Microsoft plans to invest $680 million (US$500 million) in Quebec digital infrastructure, including new data centres, over the next two years.

Photo: gonzo / Shutterstock.com

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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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