Groupe Mach has continued its hometown buying spree, as the privately held real estate company announced the purchase of four properties on Trans-Canada Road in the Montreal borough of St. Laurent.
- 8401 Trans-Canada Road, a 84,000-square-foot, three-storey office building built in 1995.
- 8625 Trans-Canada Road, a 50,000-square-foot, two-storey, office structure built in 1997.
- 8801 Trans-Canada Road, a 114,000-square-foot, seven-floor office tower built in 2006.
- 8885 Trans-Canada Road a 133,000-square-foot, six-storey office tower built in 2001.
Groupe Mach paid a total of $84 million for the four properties, according CoStar data. The seller was Montreal-based Canderel, which had purchased the properties in partnership with Toronto-based Forgestone Capital and Healthcare of Ontario Pension Plan as part of a much larger deal for the the former Liberty Business Park in 2014.
All four buildings sit just over half a kilometre apart on the northeast side of the intersection of highways 13 and 40. In total they amount to almost 380,000 square feet of Class A office space.
Earlier in February, Groupe Mach, which has been led by Vincent Ciara for over two decades, purchased the InterContinental Hotel in downtown Montreal for $80 million.
Montreal's office rental business has suffered a downturn in recent times, as the office vacancy rate in the greater Montreal region sat at 17% at the end of 2022 according to CBRE.