Groupe Mach has acquired three industrial buildings spanning about 700,000 square feet in the Greater Montreal Area.

Two of the buildings are located in Laval’s industrial park, while the other is situated in Varennes, Que. Pelican, a leading global sports accessories designer, has fully leased two of the buildings, one each in Laval and Varennes.

The second Laval building, a 138,000-square-foot structure at 5850 Maurice Cullen Street, is vacant and available for immediate occupancy.

“This acquisition reflects our strategy of diversification and our ability to generate value for our partners and investors,” said Montreal-based Mach in a news release. “Currently, we’re focused on maximizing the value of our existing assets and gradually transitioning to decarbonization of our buildings.”

Mach is a leading private commercial real investor, manager and developer. The company’s portfolio spans about 45 msf and includes about 240 properties.