Broccolini Enters Canadian Self-Storage Market With 3 Developments in Montreal

June 7, 2024

1 Min Read

Broccolini, a real estate developer and investor, is entering the Canadian self-storage market with three ground-up projects in Montreal. Totaling nearly 400,000 square feet, the facilities will be branded as Pandora Self Storage. They’ll be financed through Broccolini Self-Storage Fund LP, which aims to address the growing demand for self-storage in urban centers, according to the source.

“We’re going to be looking Canada-wide but with a specific focus on Quebec and Ontario,” said Jordan Dawson, director of investor relations. “The short-term focus, however, will be on Greater Montreal. There’s a significant lack of supply. There’s a lot of pretty significant fundamentals and drivers of demand, so we think the low-hanging fruit is really the Greater Montreal area.”

The Pandora self-storage projects include a $39-million, multi-story building at the intersection of Autoroute 40 and Charles-E. Frosst Street in Kirkland, Quebec. It’ll comprise 150,000 square feet in more than 1,100 units and up to 5,000 square feet of coworking space. It’s scheduled for completion in April.

Broccolini is also investing nearly $5 million to convert a multi-story building at 195 Brunswick Blvd. in Pointe-Claire, Quebec. The 115,000-square-foot structure was built two years ago but never occupied. Scheduled to open in early 2025, it’ll offer 900 units.

A third project on Matte Boulevard in Brossard, Quebec, will begin after the purchase of a vacant parcel closes in July. The planned 120,000-square-foot development is estimated to cost about $35 million. Construction may not be completed until 2026.

Founded in 1949, Montreal-based Broccolini has built more than 20 million square feet of industrial assets such as manufacturing facilities, warehouses, processing plants, distribution hubs and combined office/industrial space. It also has experience in the design and construction of specialized spaces like laboratories, clean rooms and refrigerated cold-storage facilities.

Source: Real Estate News Exchange, Broccolini Enters Self-Storage With New Fund, Pandora Facilities 

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