1329 Greene Avenue, Westmount

Commercial Space for Lease
2,900 square feet of commercial space available for lease on Westmount’s premier retail artery
1329 Greene Avenue, Westmount
Mark Sinnett
Executive Vice President
Commercial and Retail Properties Group
Real Estate Broker
Jones Lang LaSalle
T. +1 514 667 5696
[email protected]
Armen Markarian
Associate
Commercial and Retail Properties Group
Commercial Real Estate Broker
Jones Lang LaSalle
T. +1 514 667 5695
[email protected]
2,900 SF of prime retail space with an
additional 800 SF of finished basement for
lease on prestigious Greene Avenue
Floor Plan
Highlights
•
2,900 square feet of commercial space
for lease on Greene Avenue on the
corner of de Maisonneuve Boulevard
West in Westmount’s primary retail node.
•
Features high-quality finishings including
hard wood floors, a 15-foot ceiling, a
30-foot glass façade, a loading dock and
a freight elevator.
•
Additional 2,600 square feet of basement
space, of which 800 square feet are
finished; the remaining 1,800 square feet
can be used for storage.
•
One parking stall is also available.
•
Strong retail environment characterized
by a unique village-like atmosphere
and known for its upscale boutiques,
restaurants and bistros, art galleries and
antique dealers.
•
Local tenants include the Bank of
Montréal, Scotia Bank, Second Cup, Les
Cinq Saisons, Jean-Coutu Pharmacy,
Restaurant Chez Nick, Au Pain Doré,
Bistro on the Avenue, La Cache, etc.
•
1329 Greene Avenue, Westmount
In the heart of the prestigious City of
Westmount, known for its exceptional
quality of life, high household income
and unique residential character.
Renovated space featuring high-quality
finishings
Net Asking Rent: $40 psf
($9,660 monthly)
Additional Rent: $21 psf
($5,057 monthly)
1329 Greene Avenue, Westmount
Commercial and Retail Properties Group | Page 2
1329 Greene Avenue, Westmount
Commercial and Retail Properties Group | Page 3
Retail Environment
Market Overview
Greene Avenue, which runs north-south down
from Sherbrooke Street West, is considered
to be Westmount’s premier retail node. It is
known for its upscale shops, restaurants, art
galleries and antique dealers and its villagelike atmosphere that encourages shoppers to
stroll and window-shop. It features a number
of local institutions, such as Nicolas Hoare, a
popular independent bookstore, Chez Nick’s,
Bistro on the Avenue, Vago, Emma Boutique,
Georges Rech, Galerie D’Este, and respected
antiquities shops, like Lapidarius and Coach
House Antiques. Other well-known retailers
include Lululemon, Les Cinq Saisons,
Starbucks, and Au Pain Doré.
The City of Westmount distinguishes itself from
other Montréal boroughs for its exceptional
quality of life, as illustrated by the many
luxurious residences which line the quiet,
winding roads. Although only a few minutes
away from downtown Montréal, Westmount
retains a distinctively residential character, with
commercial activity centered around Sherbrooke
Street West, Sainte-Catherine Street West and
Greene Avenue.
Indicative of Westmount’s unique character,
household incomes, median age, and
educational levels here are significantly higher
than in the Greater Montréal Area.
Almost 28% of Westmount households report
incomes in excess of $250,000, with the average
household income resting at $226,499, as
compared to the GMA average of $76,157. The
median age in Westmount is also significantly
higher than the rest of the island, 45.9 as
compared to 39.4. It is also important to note that
the majority of Westmount’s population hold a
bachelor’s degree or higher (68%) whereas only
24% of the GMA’s population have completed
post-secondary education.
This is reflected in the area’s economic
activity, where we find one of the city’s lowest
unemployment rates (4.9%). Occupations
in management (20%), in social science,
education, government and religion (18.4%) and
sales and services (18%) represent the largest
employment sectors. No doubt the health and
natural and applied sciences occupations will
come to play a bigger role upon the completion
of the MUHC’s Glen Campus, an estimated
$1,343 billion investment in the area. Other
major employers include the Canadian Union of
Public Employees (CUPE), the Dale Parizeau
Morris Mackenzie insurance firm, Dawson
College and Xerox Canada.
At the heart of one of Montréal’s most
prestigious, upscale neighbourhoods
Heavy pedestrian traffic generated by
Greene Avenue’s unique village-like
atmosphere
1329 Greene Avenue, Westmount
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1329 Greene Avenue, Westmount
Commercial and Retail Properties Group | Page 5
About the Commercial and Retail Properties Group
JLL’s Commercial and Retail Properties Group specializes in the acquisition, disposition and leasing of
commercial, semi-commercial and retail properties both in the Greater Montréal Area and throughout the
province. The group offers:
•
Acquisition and disposition services;
•
Leasing and landlord representation services;
•
Asset review and financial analysis; and
•
Investment strategy development and due diligence support.
Our main objective is to ensure that our clients receive maximum value for their real estate investments. Our
approach, tools and processes have all been optimized to meet this goal, allowing us to successfully transact
the majority of our assignments. In addition to our 20 years of cumulative experience, we offer industryleading research, market intelligence, and unmatched exposure to investors, retailers, users, and developers
across the country.
About JLL
JLL (NYSE:JLL) is a professional services and investment management firm offering specialized real estate
services to clients seeking increased value by owning, occupying and investing in real estate. With annual
revenue of $4 billion, JLL operates in 75 countries worldwide. On behalf of its clients, the firm provides
management and real estate outsourcing services for a property portfolio of 3 billion square feet and
completed $99 billion in sales, acquisitions and finance transactions in 2013. Its investment management
business, LaSalle Investment Management, has $47.6 billion of real estate assets under management.
Jones Lang LaSalle Real Estate Services Inc.
Real Estate Agency
1 Place Ville Marie, Suite 2121
Montréal, Québec, H3B 2C6
Tel. +1 514 849 8849
www.jll.ca
Mark Sinnett
Executive Vice President
Commercial and Retail Properties Group
Real Estate Broker
Jones Lang LaSalle
T. +1 514 667 5696
[email protected]
Armen Markarian
Associate
Commercial and Retail Properties Group
Commercial Real Estate Broker
Jones Lang LaSalle
T. +1 514 667 5695
[email protected]