Rosefellow has acquired part of the Méga Centre Notre-Dame mall in the Montreal area and plans to develop the piece as a three-building industrial campus, the company announced on LinkedIn.

The 1.2-million-square-foot retail centre is located in Laval, Que., the company announced on LinkedIn.

“With an estimated investment of about $200 million, the project underscores our confidence in the strength and resilience of Laval’s expanding market,” said the company.

The redevelopment will comprise a LEED and Zero Carbon-certified class-A industrial campus.

Rosefellow purchased the portion from the mall’s owners, RioCan REIT and Harden, for $75 million, according to a published report.

Rosefellow plans to construct 550,00 square across the three industrial buildings, the report adds.

Co-CEO Mike Jager told an interviewer that the company is looking to capitalize on high demand for industrial space in the area, adding that the Highway 13 site’s proximity to the mall, bars and restaurants will appeal to prospective tenants and Laval’s large labour pool.

Demolition of the acquired portion is slated to commence once existing leases expire at year-end 2025 and tenants are relocated. RioCan and Harden will continue to own and operate the remaining portion of the mall, according to the report.

Pictured: Méga Centre Notre-Dame in Laval, Que.

Photo: RioCan REIT