The JLL Capital Markets team has completed the sale of the iconic site of North America’s oldest brewery.
The Molson District located at 1555 Notre-Dame Street East in Montreal, Quebec was sold to a consortium of consortium of Groupe Sélection, Groupe Montoni and Fonds immobilier de solidarité FTQ.
“This large-scale landmark development property is of unparalleled magnitude. It holds the potential to create a multi-use neighborhood with riverfront and city panoramic views, strategically located in the heart of Montréal,” said Senior Vice President Robert A. MacDougall, who led the JLL team.
The 1.2M square feet land site with 1.6M square feet of building improvements will now be developed for mixed use but retaining the Molson heritage which began in 1786, as the firm has signed a long-term lease for its Montreal headquarters and a facility showcasing its brand history.
“The unique character of the Molson District and its historical heritage helped us attract a deep pool of interest from Canadian and international investors alike,” said Executive Vice President Matt Picken, leader of JLL’s Capital Markets team in Canada. “We are appreciative and humbled to have been selected to be the exclusive advisor to a company as renowned as Molson on this landmark transaction.”
Vice President Jenny Daly also worked on the deal alongside MacDougall and Picken.