Developer Montoni on Wednesday announced the acquisition of 4.3 million square feet of land in the industrial ecopark of Saint-Bruno-de-Monterville in the South Shore.
Fund Manager Alberta Investment Management Corporation and another institutionalized pension plan finalize the investment to consolidate the supply of industrial land in the Montreal suburbs.
Construction of a total of 1.6 million square feet of industrial buildings will begin in 2022 for development that represents an investment of approximately $ 400 million.
The site selection was not so lucky as the project will be built near Highway 30 and Highway 116, two major highways in North America.
With its two partners, the Montoni Group intends through its investment to participate in the sustainable development of the Saint-Bruno Municipality.
“We are grateful to have the opportunity to participate in the development of Saint-Bruno-de-Monterville. Our practices are trustworthy, development is qualitative and respectful of the environment in which we are established,” Montoni Group President Dario Montoni said in a statement.
“Logistics remains a key area for AIMCo and we are very excited to partner with a leading developer who shares our commitment to the best environmental practices,” said Tony Vadachino, Vice President of AIMCo.
“The city is optimistic about the realization of ambitious industrial construction projects. They help create an environmentally friendly living environment that promotes high value-added industrial activities, research and development, logistics centers and headquarters, ”he said. Saint-Bruno-de-Mayor Ludovic Grise Farand Monterville.