Allied Properties is purchasing a mixed-use complex in Montreal for $276 million.
Located in the International Quarter, 747 Square-Victoria Street features 519,574 square feet of rentable office space, 43,015 square feet of retail and 858 underground parking spaces. There is also potential for extra office and retail space if common areas are transformed. The goal is to help serve companies in sectors like tech, advertising, media and information.
The building, currently 90.7 per cent leased, was completed in the early 1990s, and now takes up a large part of a city block. It integrates heritage structure along Saint-Antoine and Saint-Jacque streets, with new structure along a historic laneway (Ruelle des Fortifications) that extends the length of the block from Saint-Pierre to Square-Victoria.
The laneway rises to a glass canopy along the roofline of the united structures to form an atrium that allows access to the many retail and office uses within the complex.
747 Square-Victoria is located in close proximity to (and is essentially connected with) Allied’s 700 de la Gauchetière Street West and 425 Viger Avenue West. Allied said the proximity and connectivity will make it easier to coordinate and enrich the user experience at all three buildings over time.