NEWS RELEASE PAGE
Headline: The Cutler Property Group & Grassi Construction Inc. enter development with Alexis Nihon REIT on $11.1 million property acquisition in Pointe-Claire, Quebec
MONTREAL, June 20 – The CUTLER PROPERTY GROUP & GRASSI CONSTRUCTION INC. announce that they have entered into a development agreement with ALEXIS NIHON REIT upon the acquisition today of a land site fronting on Trans-Canada Highway in Pointe-Claire, Quebec, The site located at 2400 – 2620 Trans-Canada Highway south service road comprises of 894,300 square feet of land area and approximately 293,000 square feet of mostly older industrial / warehouse space.
The Cutler Property Group (3286924 Canada Inc. President: Adam Cutler) and Grassi Construction Inc. (President: Sabino Grassi), the development partners, shall oversee a multiyear redevelopment of the site. . Projected plans call for two phases of work. The 1st phase is estimated to cost $7,000,000 and shall consist of the demolition of the east side buildings fronting on Trans-Canada and the construction of approximately 120,000 sf. of new light industrial/warehouse & hi-tech office space for 1 – 4 tenants. The 2nd phase shall consist of new construction on the west side Trans-Canada frontage for an entirely new self contained building for a large built to suit tenant looking for up to 450,000 sf. Accomplished architect Maurice Bergman has been retained to complete site and building plans. Leasing will be handled through Metivier, Grassi Real Estate Services Inc.
For more information please contact Adam Cutler of The Cutler Group @ 514-867-3545. www.cutler-group.com : e-mail: aacutler@bellnet.ca or Sabino Grassi of Grassi Construction Inc. @ 514-879-1597.
For leasing information please contact Cindy Falcone at Metivier, Grassi Real Estate Services @ 514-879-1597.
