Morguard Corporation and Morguard REIT acquire office complex in Montreal
Morguard Corporation and Morguard REIT have acquired Place Innovation, a four-building interconnected office complex, located within Technoparc Montreal, the largest technology park in Canada, in the Montreal borough of Saint-Laurent, Quebec. The property contains 885,322 square feet of leasable area located on a 126 acre site which includes and 62.5 acres of land available for future development. The property is currently 98 per cent leased, with the two largest tenants occupying approximately 60 per cent of the rentable space. This acquisition adds to a diversified portfolio of 100 retail, multi-unit residential, office and industrial properties comprising 10,297 multi-unit residential suites and approximately 6.4 million square feet of commercial leasable space.