for lease or for sale

FOR LEASE OR FOR SALE
LES CONDOS CRESCENT
1220 Crescent Street, Montréal
Commercial spaces for lease or for sale in a prestigious
development in the heart of downtown Montréal
Mark Sinnett
Senior Vice President
Real Estate Broker
514.849.6441
[email protected]
Armen Markarian
Sales Representative
Real Estate Broker
514.849.3539
[email protected]
FEATURES
5,000 square feet available for lease or for sale.
Can be divided according to the tenant’s requirements.
Net Leasing Rate: $55.00 psf
Asking Rate: $3,250,000
On the ground floor of a prestigious new construction located on Crescent Street, between Sainte-Catherine Street and
René-Lévesque Boulevard, in the heart of downtown Montréal.
Construction will begin in February 2014.
Excellent fenestration, lots of natural light and good signage opportunity on a busy street, that features over 7,000 cars
and 12,000 pedestrians every day.
Well-serviced by public transit: Only minutes away from the Lucien L’Allier, Peel and Guy-Concordia metro stations and
frequent bus service (#1, 15, 28, 150, 350, 355, 358, 364, 427, 435, 747).
Proximity to many Sainte-Catherine Street destination retailers, the Bell Center, McGill and Concordia Universities and the
Central Business District.
PRIVATE CAPITAL GROUP | MONTRÉAL
Les Condos Crescent | Page 2
PROPERTY OVERVIEW
FAÇADE ALONG CRESCENT STREET
LOBBY
PROPERTY RENDERING
PRIVATE CAPITAL GROUP | MONTRÉAL
CONDO RENDERING
Les Condos Crescent | Page 3
LOCAL NEIGHBOURHOOD OVERVIEW
BEDO - URBAN OUTFITTERS - SAINTE-CATHERINE STREET WEST
OGILVY - SAINTE-CATHERINE STREET WEST
NEWTON - CRESCENT STREET
CRESCENT STREET
PRIVATE CAPITAL GROUP | MONTRÉAL
Les Condos Crescent | Page 4
THE VILLE-MARIE BOROUGH
OVERVIEW
Downtown Montréal is both the heart of the city and an
important economic center for the province. Much of the
province economic activity is located between Atwater and
Bleury Streets and de la Gauchetière and Sherbrooke Streets.
While the city’s center used to lie in the Old Port of Montréal, the
development of landmark skyscrapers from the 1930s through
to the 1960s shifted Montréal’s economic activity to the Sun Life
Building, Place Ville Marie, 1000 de la Gauchetière and the Bell
Building. Large infrastructure projects such as the Bonaventure
and Ville Marie autoroutes further concretize this move. Today
over 250,000 people travel in from the West Island, the North
and South Shores, and further afield to work and play in this
vibrant neighbourhood, enjoying the many bars, restaurants,
shops, boutiques, museums, and art galleries, all a few minutes’
walk away.
DEMOGRAPHIC TRENDS
Like many areas in Montréal, the Ville-Marie borough has
seen growing population trends. This is both a result of new
infrastructure as well as a densification of the downtown core.
According to Statistics Canada, the population in the Ville-Marie
borough was 90,748 in 2013. This represents a 4.1% increase
since 2008 and a further 15% increase is expected for the next
five years. The median age is 36, with the 25-34 age range
the most significant. It is interesting to note that 43% of the
Ville-Marie population have post-secondary education degrees,
which is significantly higher than for the rest of Montréal, where
the rate lies at 24%. On average, the household income in
Ville-Marie is $69,123, with the average household size of 1.7
persons. Some of the most important companies in this area are
Sun Life Financial, the Laurentian Bank, BDC, Intact Assurance,
Manulife Assurance, McGill University and VIA Rail Canada Inc.
PRIVATE CAPITAL GROUP | MONTRÉAL
REAL ESTATE TRENDS – RESIDENTIAL
Ville-Marie has seen numerous condominium projects
undertaken, which attract a new influx of people to smaller,
new and modern units. That said, there still exists many older
buildings which offer a difference ambiance. Condominium
units average between 600 and 3,000 square feet and sell
for anywhere between $270,000 and $7,000,000. Major
condominium projects include the prestigious Icon and
Roccabella developments as well as the much-publicized Tour
des Canadiens and L’Avenue.
As in the rest of the city, most inhabitants rent (approximately 70%
of the population). The average prices of single-family homes
in the Ville-Marie borough for the last year is of $650,000,
condominiums sold for $323,000 and plexes for $410,000.
These figures are much higher than those of the whole Island
of Montreal where single-family homes have recently sold for
$379,000, plexes for $444,500 and condominiums have sold
for $268,000.
REAL ESTATE TRENDS – COMMERCIAL
The area is expected to change significantly in the next few
years and massive infrastructural investments are made. The
Harbourfront Tramway, for instance, will connect the Central
Business District and Old Montréal, and complement Montréal’s
metro and pedestrian networks. Another important initiative will
redevelop the Montréal Harbourfront by expanding recreational,
tourist and cultural attractions, repurposing vacant land and
improving the efficiency of transportation networks. Finally,
the Quartier Bonaventure project, one of the largest underway,
will see the transformation of the Bonaventure Autoroute into a
boulevard and tramway line.
Les Condos Crescent | Page 5
ABOUT CBRE
ABOUT THE PRIVATE CAPITAL GROUP
CBRE is the world’s premier commercial real estate firm, with
more than 200 years of experience in helping clients successfully
navigate the ever-changing world of real estate. Our guiding
philosophy is «navigating a New World» — a demonstration
of our commitment to help our clients foresee the landscape
ahead, steer through the obstacles and seize opportunities.
The Private Capital Group represents private investors and
owners in marketing, trading, and leasing commercial and
semi-commercial assets.
A pioneer in the industry, CBRE was the first globally integrated
real estate services firm with wholly-owned and managed
operations in virtually every major business capital of the world.
Ahead of our competitors, we recognized the growing demand
for multi-market real estate service, and in the 1960s, began
expanding our reach to cultivate global capabilities.
Today, we operate more than 400 offices in 64 countries and
over 34,000 employees worldwide. In Canada, CBRE has 1,850
employees and serves clients through twenty offices strategically
located in Calgary, Edmonton, Halifax, Kitchener, London,
Montreal, Ottawa, Toronto (3 offices), Saint John, Vancouver and
Winnipeg. Our powerful presence in the marketplace enables us
to provide a range and quality of services that is unparalleled.
CBRE combines the people; services and knowledge to best
meet the needs of each individual client.
Our commercial leasing division is focused on agency
representation and seeks to maximize the value of your property
by targeted reputable users and retailers. We are present in
all of Montréal’s most important urban markets, from SainteCatherine Street, du Mont-Royal Avenue and Saint-Laurent
Boulevard to the well-established markets of Outremont and
Westmount and the up-and-coming boroughs of Sud-Ouest
and HOMA.
Our marketing strategies have been developed and honed to
meet our clients’ needs, the unique features of their spaces,
and the potential ideal tenants. They rest upon a complete and
thorough understanding of Montréal’s urban retail landscape
and our database of over 2,500 local, provincial and national
retailers and users. Our team collaborates with brokers,
investors and owners to stay ahead of market trends, to harness
the competitive nature of the leasing market and to exploit new
opportunities as soon as they arise.
We believe that our system, exclusive to the team, is unparalleled
in the Montreal market.
For more information, please contact Montréal’s Private Capital Group:
Mark Sinnett
Senior Vice President
Real Estate Broker
514.849.6441
[email protected]
Armen Markarian
Sales Representative
Real Estate Broker
514.849.3539
[email protected]
CBRE Limited | Real Estate Agency
2001 McGill College Avenue, Suite 2000, Montréal, Québec, H3A 1G1
T 514.849.6000 | F 514.849.7095 | www.cbre.ca
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