MONTREAL, Oct. 05, 2021 (GLOBE NEWSWIRE) — Canadian leader in real estate development and construction, Broccolini, is pleased to announce the acquisition of 2.5 million square feet (211,159.1 m²) of land in Montreal’s East End. Located along Highway 40 and straddling the border between the Anjou borough and the City of Montreal East, this commercial/industrial-zoned land will be redeveloped according to the highest environmental standards.
“We’re proud to participate in the sustainable development of this sector and we look forward to presenting a bold project that will contribute to the green economic recovery of Montreal’s East End,” said Roger Plamondon, President of the Broccolini Real Estate Group. “The purchase of this land represents our first major foray into Montreal’s East End, and we’re enthusiastic about the prospect of working with the various local government authorities and business partners, as we have throughout the acquisition process, to develop a project that will become an integral part of its community.”
The land, consisting of two adjacent lots, was sold to Broccolini by Groupe C. Laganière for $56.8M. Guy Laganière, President of the company, points out that this sum will help give additional impetus and momentum to their Complexe environnemental Montréal-Est (CEME): “I’m very proud of the work accomplished by my team to carry out this transaction, which I see as a positive move for the future of Groupe C. Laganière and for the revitalization of Montreal’s East End. The sale of a portion of our land to Broccolini opens the door to keep converting old environmental liabilities into strategic assets for the redevelopment of our local community in a sustainable way. The sale will also help contribute to the realization of our future projects and ensure the succession of our company.”
Sustainable construction is part of Broccolini’s DNA. In fact, even before the purchase was finalized, Broccolini had already committed to ceding part of its new land and actively participating in the development of a green corridor. Discussions with the various government authorities have also been initiated to ensure compliance with all the environmental guidelines for the area.
Broccolini is a leading single-source provider of construction, development, and real-estate services in Canada. The company provides a wide range of services in the industrial, commercial, institutional, and residential markets, acting variously as a general contractor, construction manager, project manager, property manager and developer. Broccolini’s Real Estate Management subsidiary currently owns and manages a portfolio of more than 45 properties, representing a total of over 11 million square feet of assets.
About Groupe C. Laganière
Groupe C. Laganière is a family business that has been established in Montreal East for 60 years. Specializing in environmental rehabilitation and related civil engineering work, it employs about 100 qualified workers and offers its services as a contractor across Quebec. The company also owns CEME, an accredited biological treatment centre for contaminated soils, located on 8.5M square feet of land in a commercial/industrial zone in Montreal East. Over the next three to four years, the company will direct and oversee the redevelopment of the CEME treatment centre. With an exemplary record in ESG criteria and in occupational health and safety, Groupe C. Laganière notably counts Fondaction and Investissement Québec among its financial partners.
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Groupe C. Laganière