A Saint-Laurent property developer has acquired a large section of a consumer megamall on the edge of Autoroute 13 near Sainte-Dorothée, with plans to redevelop it into a modern industrial space while reinforcing Laval’s supply-chain and logistics corridor.
The company, Rosefellow, paid owners RioCan REIT and Harden $75 million for the underused retail and commercial property where recent tenants included designer apparel factory outlets and occupancy was relatively low.
The company plans to spend around $200 million to develop 550,000 square feet, including three buildings, on the site at the northern end of Méga Centre Notre-Dame.
Demolition would begin as soon as existing leases end and current tenants are relocated, tentatively at the end of 2025, according to a commercial real estate source.
“This strategic acquisition represents a major step in the development of our activities in Laval and confirms our commitment to long-term investment in prime locations,” said Rosefellow co-CEO Sam Tsoumas.
“We are excited about the opportunity to positively contribute to Laval’s economic vitality,” he added.
