Montcrest Asset Management (formerly known as NYX Capital Corp.) and Bluebird Self Storage acquired an existing commercial building on 2.15 acres of industrial land.
Located at 5715-5785 Metropolitain Blvd. East, the Metropolitain Self Storage building is in Montréal’s Saint-Leonard district – a rapidly densifying residential and commercial area that has an underserved market and high demand for self-storage. Purchase price and seller have not been disclosed.
Montcrest CEO Yashar Fatehi said, “We plan to demolish the existing building and construct a brand new, A-Class storage facility. Metropolitain will be the ninth self-storage project between our partnership with Bluebird and marks Montcrest’s first property outside of the Greater Toronto Hamilton Area (GTHA). This acquisition brings us one step closer to accomplishing our common goal of being the top self-storage brand in Canada.”
Bluebird Self Storage Managing Principal, Reade De Curtins said, “We are actively engaged in an aggressive Montréal growth strategy. Motivated by the success of our first location on Henri Bourassa Blvd., which we acquired in the summer of 2020, we were eager to identify our next high-profile location in this market, and the site on Metropolitain Blvd. E., is it. Extending our valued relationship with Montcrest outside the Greater Toronto Hamilton Area (GTHA), the development of this property should be smooth sailing and further testament to our shared focus to grow the Bluebird brand across Canada.”
