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Midyear Meetings · April 22-25, 2007 · Fairmont Queen Elizabeth Hotel · Montreal
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Real Estate Overview

• The City of Montreal was “de-merged” in January 2006 and now has a population of more than 1.6 million in 19 boroughs, with 15 re-created cities with a combined population of over 200,000. It ranks as the second largest metropolis in Canada.

• Though office and industrial vacancy rates continue to creep up, retail spending is above average per capita. One reason? Montreal’s cultural identity as a shopping destination. The GMA market represents close to $40 billion in retail sales, or 10 percent of the Canadian total.

• Adaptive reuse initiatives include a 1 million square foot redevelopment of the Mirabel airport terminal that will include a tropical beach and a 1.2 million square foot shopping center at the site of a former GM assembly plant.

• The total office market inventory is in excess of 74 million square feet. Researchers expect tenants to retain space in class B buildings as the trend of revamping, upgrading and consolidating space continues and provides a sound alternative to class A space.

• Design Montreal , created in 2006, is a new organization whose mission is to implement the action plan for improving the city’s design and establishing its reputation as a “design city,”

• Greater Montreal has successfully shifted its industrial base to become a world leader of the new economy, ranking fourth in North America for high-tech job density. Other strategic industries include aerospace, biotechnology and life sciences, information technology, new media and e-commerce, logistics and distribution, call centers,and the film industry.

Sources: Cushman & Wakefield LePage; J.J. Barnicke Limited, Ville de Montreal

See the following research reports for a full range of information on Montreal real estate and the larger Canadian markets:

Avison Young

The Altus Group

J.J. Barnicke

CB Richard Ellis

Colliers International

Cushman & Wakefield

GVA Devencore

Jones Lang LaSalle

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