Brivia Group Inc. has purchased a prime downtown Montreal development site which could offer nearly a million square feet of buildable area. Named 1 Square Phillips, sales start fall 2019
The Phillips Square site is just off of the city’s primary commercial artery, Sainte-Catherine Street. It represents an “exceptional development opportunity” of 925,000 square feet or more, JLL says in a release announcing the sale. Brivia paid $45 million for the 79,864-square-foot property, located at 1201-1215 Phillips Square, according to JLL Montreal’s Capital Markets Group, which executed the sale. The vendor is Canderel Group of Companies.
On its website, Canderel calls it “one of the last prominent downtown locations in Montreal for the construction of a new office tower.” Canderel also lauds the easy access to the Montreal Metro system and major highways such as the Bonaventure and the 720 (Ville Marie Expressway).
When Canderel purchased the site, used as a parking lot, in 2015 it was planning a LEED-certified office tower with up to 140,000 square feet of retail space at the base.
Sales for 1 square Phillips condos by Brivia group are planned to start early fall of 2019, for plantinum access and fisrt in line sales register at Platinum Access 1 Square Phillips condos
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