Montreal-based commercial property developer Harden says it has gone ahead with the sale of a 27-acre portion of the Méga Centre Notre-Dame along Autoroute 13 in Laval to Rosefellow, an industrial real estate developer, for a purchase price of $75M.
According to Harden, the transaction marks a key milestone in the Méga Centre site’s transformation, “supporting broader redevelopment efforts and reinforcing a long-term commitment to enhancing Laval’s economic and commercial vitality.”
Harden co-owns the property with RioCan in a 50 per cent partnership.
“The portion sold to Rosefellow was a less productive area of the site,” Harden acknowledged in their statement.
“This strategic disposition enables targeted reinvestment into the retail core of Méga Centre Notre-Dame, accelerating its transformation into a productive, dynamic destination for residents, workers, and visitors alike,” they added.
“With new retailers like Sephora already open, Krispy Kreme on the way, and major expansions by iconic brands such as Winners/HomeSense, Gap, Banana Republic, La Vie En Rose, Dollarama and Poulet Rouge, Méga Centre Notre-Dame is entering a new chapter that reflects our dedication to creating lasting value for residents and businesses alike,” said Tyler Harden, co-chief executive officer with the company.
The transformation will include the expansion of Winners/HomeSense into one of the largest stores of its kind in Quebec, with a footprint of approximately 70,000 square feet, and a significant expansion by Dollarama.
Harden said a tenant reconfiguration is already underway on the sold property, with established retailers like GAP, Banana Republic, La Vie En Rose, Carter’s OshKosh, Dormez-Vous, Dollarama, Sushi Shop, Thai Express, Service Canada, and SQDC relocating within the site.
New concepts expected in the future include Mondou’s “next-generation” store and a refreshed Second Cup café.
Harden said it continues to actively manage and enhance the remaining portions of Méga Centre Notre-Dame, in partnership with RioCan.
Rosefellow’s planned $200 million redevelopment of its newly-acquired portion will see the construction of three state-of-the-art industrial buildings, meeting a growing regional demand for high-performance logistics and light industrial space.
The parties all believe this development will complement the centre’s retail operations, creating a mixed-use hub that draws value from both sectors, while serving evolving needs.
