For immediate distribution
A COLOSSAL $70 MILLION INDUSTRIAL FREEZER TO BE BUILT ON THE NORTH SHORE OF MONTREAL
Mascouche, Quebec, March 17, 2022 – Congebec, Quebec’s largest multi-temperature food processing, distribution, and logistics company, has signed a long-term lease at a development that will become the company’s first major cold storage facility located on Montreal’s North Shore. This crucial infrastructure project, which will be developed through a joint venture partnership between Rosefellow, a real estate developer, and Skyline Commercial REIT, will be located in Mascouche and is expected to substantially increase Quebec’s food autonomy.
This $70 million development will include a new 219,000 square foot state-of-the-art cold storage facility that will enable food producers in the region to store inventories closer to their operations, creating efficiencies within the supply chain.
Construction of the building, which will begin this spring, is expected be completed in 2023. The facility will be equipped with an innovative CO2 based refrigeration system that is more eco-responsible and safer than conventional ammonia-based systems.
The lease commitment represents Congebec’s first major new facility to open in Quebec in more than ten years, and brings the company’s strategic Canadian network of cold storage facilities to thirteen properties that extend across Quebec, Ontario, Manitoba, Saskatchewan, and Alberta.
“This project represents a bit of a homecoming for us. As a key link between food production and consumption, we want to continue to support this industry in which our company got its start. The pandemic and the supply issues of the past few months have enabled us to refocus on our customers’ needs right here at home. This new space will contribute to the growth of the region’s food chain and to the food autonomy of Quebec as a whole,” said Nicholas-P. Pedneault, Congebec’s President and CEO.
More than $2 billion worth of food products pass through Congebec’s cold storage facilities each year. The company’s 500 employees generate more than $1 billion in annual economic activity and spinoffs in the local agri-food industry. The Mascouche facility alone is expected to generate approximately $500 million in annual economic activity.
MASCOUCHE, A STRATEGIC CHOICE
The new building, which will be owned by Skyline Commercial REIT and Rosefellow, will be built in the Mascouche Industrial Park, at the corner of rue Louis-Blériot and Avenue de la Gare. This represents an increasingly strategic location for companies looking to conduct business north of the Laval market, which is becoming more and more competitive.
“This first foray into the North Shore of Montreal marks an important step for Rosefellow. We chose Mascouche because it is a proactive city in terms of development. We are proud to erect an industrial building for a client as prestigious as Congebec in partnership with Skyline Commercial REIT,” said Mike Jager, co-founder of Rosefellow.
“We are thrilled to welcome Rosefellow and Skyline Commercial REIT’s multi-tenant industrial project to the Centroparc, and with the arrival of Congebec. Mascouche becomes the first city on the North Shore to have been selected by Rosefellow and its partners for this major investment. This once again demonstrates the attractiveness of Mascouche’s industrial park,” said Guillaume Tremblay, mayor of Mascouche.
“Skyline Commercial REIT’s relationship with Congebec began in 2018 with the acquisition of eight cold storage facilities located across Canada. We are excited to grow this relationship and to increase the REIT’s investment in the cold storage sector, which continues to enjoy solid growth globally. This project aligns with our property development strategy which aims to deliver a pipeline of modern, well-located logistics and warehousing assets in key markets,” said Michael Mackenzie, president of Skyline Commercial REIT.
Congebec provides integrated multi-temperature food processing, distribution, and logistics services. Its twelve facilities totaling more than 57 million cubic feet are strategically located in Quebec, Ontario, Manitoba, Saskatchewan, and Alberta. Congebec is a value-added Canadian industry leader, which is committed to food safety.
Rosefellow is a leading real estate developer based in Montreal with over 14 million square feet of industrial and multi-residential development projects located in the provinces of Québec and Ontario. Rosefellow designs, builds and manages properties that constantly push the boundaries of sustainable innovation. Their successes include Le Cent-Onze, a residential rental project located in Ville St-Laurent, which is expected to be delivered in the summer 2022, as well as numerous industrial buildings in the Montreal region and in Ontario.
Skyline Commercial REIT (the “REIT”) is a privately owned and managed REIT that is focused on acquiring industrial and logistics-centred investments along major highway corridors and transportation routes in Canada. Skyline Commercial REIT is distributed as an alternative investment product through Skyline Wealth Management Inc. (“Skyline Wealth”), the preferred Exempt Market Dealer for the REIT.
To learn about additional alternative investment products offered through Skyline Wealth, please visit SkylineWealth.ca. Skyline Commercial REIT is operated and managed by Skyline Group of Companies.
Congebec | congebec.com
Rosefellow | rosefellow.com
Skyline Commercial REIT | Skyline CommercialREIT.ca _
My-Le Nguyen | email@example.com