New York City-based Thor Equities is acquiring three prominent retail buildings on Montreal’s Saint Catherine Street West. These include properties at 1325, 1327-1333, and 1391-1397 Saint Catherine Street West, totalling 56,800 square feet of retail space.
The 1327-1333 Saint Catherine Street West property features 11,860 square feet of retail and 18,550 square feet of office space on six levels, at the corner of Rue Crescent. The adjacent 1325 Saint Catherine Street address features a 2,600-square-foot retail property located next door to an Apple Store, as well as the prominent Ogilvy department store.
The 1391-1397 Saint Catherine Street West building, located on the corner of Bishop Street, has approximately 23,800 square feet of retail and residential space over four levels, including 6,900 square feet of retail on the ground and lower levels.
“Saint Catherine Street is a premier shopping corridor that is primed for further growth, as evidenced by the recently opened Aritzia flagship store, planned Holt Renfrew-Ogilvy luxury superstore, and the launch of new high-end hotel and condominium developments,” said Joseph Sitt, CEO of Thor Equities.
In 2015, Thor Equities acquired its first property in Montreal at 777 Saint Catherine Street West. The historical building includes 20,000 square feet of prime retail space currently occupied by Banana Republic.
The City of Montreal plans to invest millions of dollars to enhance Saint Catherine Street with new pedestrian malls, free Wi-Fi and heated sidewalks, which will likely lead to more deals and increased retail sales in the area.