May 9, 2019. Montreal.
Forum Properties and Crofton Moore announced today the acquisition of 11 retail properties in Quebec. This portfolio represents over one million square feet of gross leasable area (GLA). Seven of the properties acquired in the transaction will be managed by Forum Properties and four by Crofton Moore.
The shopping centres acquired serve consumers' daily needs with strong anchors such as Walmart, IGA, Provigo, Super C (Metro) and Pharmaprix (Shoppers Drug Mart).
"These additional strong retail properties enhance our commitment to provide national, regional and local retailers with the ability to coordinate their leasing and growth strategies," said Forum founding partner Dean Mendel.
"We are delighted to partner with Crofton Moore in this acquisition," he continued. They are a well-known name in real estate, and they use their in-depth knowledge about markets and tenants to help their clients invest and flourish in the Quebec and Ontario real estate markets. They have developed a full array of real estate services over the last 22 years."
Crofton Moore president Mitchell Moss echoed Mr. Mendel's thoughts. "Our success and growth have been driven by our commitment to our tenants, providing them with the location, traffic and amenities they need to reach their core demographic. That is the same commitment we see at work at Forum Properties, and we look forward to working together on these new acquisitions."
The new properties include:
Centre le Village (Nuns' Island)
Place Elgar (Nuns' Island)
Plaza des Seigneurs (Terrebonne)
Repentigny Shopping Centre (Repentigny)
Saint-Rémi Shopping Plaza (Saint-Rémi)
Centre Sorel (Sorel)
Marché Marcel Laurin (Ville St. Laurent)
Centre Commercial Chateauguay (Chateauguay)
Place Desormeaux (Longueuil)
Méga Centre Côte Vertu (Ville St. Laurent)
About Forum Properties
Forum Properties is a leading developer of retail neighbourhood shopping centres across Canada. The company is a full-service real estate provider that manages all aspects of the development process including due diligence, acquisition, land use planning, construction,leasing and day-to-day property management.
About Crofton Moore
Since its inception over 20 years ago, Crofton Moore has been active in over 8,500,000 square feet of real estate in both Quebec and Ontario. Crofton Moore specializes in the development and redevelopment of real estate projects by providing creative solutions to commercial properties positioned to meet the current and future needs of commercial tenants and their clients.