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PROREIT Acquires Quebec City Mixed-Use Property For $7.4M


PROREIT has acquired a mixed-use office and retail building at 1275 Jules Verne Ave in the Quebec City suburb of L’Ancienne Lorette for $7.4M. The property, with nearly 50k SF of GLA on four acres, is 100% occupied by four tenants, notably Nordia Inc and Entrepot du Hockey (owned by a multi-store franchisee of FGL Sports, a subsidiary of Canadian Tire), both under long-term lease until 2026. The property is in the big-box retail node of L’Ancienne Lorette. PROREIT says a 350k SF IKEA is planned for development nearby.