(For more retail coverage, click GlobeSt.com/RETAIL and toread more on the industrial market, click here.)
MONTREAL-Locally headquartered BTB Real Estate Investment Trusthas agreed to acquire a pair of mixed-use buildings in the GreaterMontreal region for $18 million. The larger of the two propertiesis Les Halles St-Jean, a fully leased retail and office building inthe province of St-Jean-sur-Richelieu, located 30 miles southeastof Montreal.
Located at 145 St-Joseph Blvd. E., the 108,972-sf buildingcontains a 62,000-sf indoor retail mall and 47,000 sf of office.Approximately 45% of the revenue from the property is generated bya financial institution, a government-owned corporation, a pharmacyand governmental offices. The property's NOI translates to a caprate of 9.05%, according to BTB. An expansion of the building isunder consideration.
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