Metso, a Finnish industrial machinery company, wished to sell its 301,654 SF facility located at 795 George V Street, in Lachine. With substantial frontage on Highway 20, this property offered exceptional visibility. With both highly technical and modern fittings, the building featured clear heights ranging from 18 to 51 feet and a solar heating system. 795 George V is also a rail-served site, a fantastic opportunity for a distribution company.
The mandate presented some key challenges as the deal structure would involve the current owner, the purchaser as well as the previous owner who still had environmental obligations towards the property. Having shut down its manufacturing operations, Metso wished to maintain its division office within the building and therefore lease back more than half of the building’s office space.
After narrowing into a selection of qualified potential purchasers, the Colliers Montreal Industrial team was able to secure a winning deal with a buyer who, despite the complexity of the situation but motivated by the very tight local industrial market, saw a great opportunity and acquired the property as an investment. Metso was able to retain its office space and benefit from a great visibility with brand signage on the building’s façade.
The mandate presented some key challenges as the deal structure would involve the current owner, the purchaser as well as the previous owner who still had environmental obligations towards the property. Having shut down its manufacturing operations, Metso wished to maintain its division office within the building and therefore lease back more than half of the building’s office space.
After narrowing into a selection of qualified potential purchasers, the Colliers Montreal Industrial team was able to secure a winning deal with a buyer who, despite the complexity of the situation but motivated by the very tight local industrial market, saw a great opportunity and acquired the property as an investment. Metso was able to retain its office space and benefit from a great visibility with brand signage on the building’s façade.