Canderel

Canderel

January 15, 2008 11:36 ET

Canderel Completes Acquisition of 1201-1215 Phillips Square

Development Company Acquires Strategic Property in Downtown Montreal

MONTREAL, QUEBEC--(Marketwire - Jan. 15, 2008) - The Canderel Group of Companies (www.canderel.com), a leader in the Canadian real estate development industry announced today that it recently closed on the acquisition of the parking lot located at 1201-1215 Phillips Square in downtown Montreal.

This parking lot, located steps from prime Ste. Catherine Street retail and the core downtown office buildings of Rene Levesque, is one of the last available downtown locations in Montreal for the construction of new office and retail space.

"This is a substantial acquisition for our firm as this future development will be the first new development in downtown Montreal that will be LEED certified." says Jonathan Wener, Chairman of the Canderel Group of Companies. "This development will continue to demonstrate Canderel's commitment to building a greener today for a brighter tomorrow."

Daniel D. Peritz, Senior Vice President of Canderel in Montreal, adds that "the location of this future multi-use development is extremely strategic for large format retailers given it is adjacent to St.Catherine Street. For office users it is an ideal location that is close to services, in proximity to the underground network and has excellent access to the public transit and the major arteries serving the downtown core."

While Canderel is in the early planning stages, the projected development will include approximately 140,000 square feet of prime retail space with close to 500,000 square feet of Class "A" office space.

Contact Information

  • Canderel
    Peter Picciola
    Executive Director, Leasing and Development
    514-842-8636, ext. 242
    ppicciola@canderel.com