Aeroterm, a leading owner and developer of on-airport cargo facilities, announces the acquisition of two airport adjacent warehouses located at 1790-1820 Saint-François and 2600-2650 André in Dorval, Quebec. Located less than 10 minutes from Montréal – Trudeau International Airport and offering a combined total of 220,860 square feet across 13.38 acres, the warehouses are fully leased and have 24 loading positions.
“These two facilities are 100 percent leased in a supplied constrained market making them excellent additions to our portfolio,” said David Rose, Managing Director & Fund Manager, Aeroterm. “The properties have a unique combination of loading positions, ample parking and exterior storage making both facilities desirable for distribution tenants.”
Montréal has one of the tightest industrial markets in North America with a vacancy rate of 1.2 percent and at the airport there is no industrial space available. In addition to their excellent airport proximity 1790-1820 Saint-François and 2600-2650 André are located just 23 minutes west of downtown Montréal, with immediate access to the Trans-Canada Highway and Autoroute 13.
“Montréal – Trudeau International Airport received 124,424 tons of belly cargo in 2019, a five percent increase from 2018, and that number is expected to increase dramatically in the coming years,” said Alexi Lachambre, Vice President of Development, Aeroterm. “With almost no vacancies for industrial space at the airport or in the greater Montréal region, these acquisitions are valuable additions to our portfolio.”
Highlights of 1820 Saint-François and 2600-2650 André include:
• Square feet: 220,860 SF
• Land area: 13.38 acres
• Loading positions: 24
• Access: Montréal – Trudeau International Airport, Trans-Canada Highway and Autoroute 13
Photos of the facilities can be found here and credited to Realterm.
Realterm executes private equity strategies at the intersection of the global supply chain and evolving consumption trends. Realterm currently manages over $10 billion in assets through five transportation logistics-oriented private equity fund series: Realterm Airport Logistics Properties (RALP), an open-end fund investing into high flow-through (HFT) on-airport logistics real estate throughout North America; Realterm Logistics Income Fund (RLIF), an open-end, core-plus fund, and the Realterm Logistics Fund (RLF) series, a closed-end, value-added fund series, both of which invest into HFT surface transportation logistics real estate throughout the U.S.; Realterm Europe Logistics Fund (RELF), a closed-end, value-added fund series investing into HFT logistics real estate throughout Europe; and Indospace Logistics Parks (ILP), a closed-end, opportunistic fund series investing into warehouse and logistics real estate throughout the top industrial markets in India.