Quebec
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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