Le Versant golf course sells a nine-hole course and reinvests the sum in improving the quality of its four remaining courses. The buyer is a company linked to Rosefellow, a developer active in the construction of state-of-the-art distribution centers in the Montreal region.
After discussions that stretched over two years, Rosefellow acquired on December 4 the land zoned industrial with an area of 2.5 million square feet (232,000 square meters) on Boulevard de la Pinière Ouest in Terrebonne, in along Highway 640, for the sum of 85 million.
“Last summer, we reorganized our courses and took the opportunity to modernize and bring our work up to date,” explains Nadia Di Menna, general manager and co-owner of the Le Versant golf club, in an interview. We took the opportunity to make major investments to improve the quality of the courses for our customers in the summer of 2024.
“Next summer, we will offer our customers two championship courses of 7,000 yards (6,400 meters) each,” she continues. We still have the 18-hole par 3 course and, something new, we will have a 9-hole executive course, so pars 3 and 4 only. »
Le Versant golf course has belonged to the Di Menna family for 35 years. The first lots were purchased in 1985. With its 72 holes on the same site, the Versant was until last year the largest golf complex in Canada, maintains Nadia Di Menna.
PHOTO PROVIDED BY ROSEFELLOW
On the buyer’s side, permissive zoning for distribution centers caught the attention of Mike Jager, partner at Rosefellow. “It’s a gem,” he said of the lot’s features. Its neighbors are the Sobeys and Metro distribution centers. On the other side of the A640 is the Rona distribution center.
“The pool of employees is wonderful in the Mascouche-Terrebonne sector,” adds Mr. Jager, inexhaustible.
Access to the site will be improved with the upcoming construction of the overpass spanning the A640 at Boulevard Urbanova.
The Rosefellow Advantage
The Montreal developer intends to build two distribution centers: one of 350,000 sq. ft.2 and a second of 400,000 ft2 (from 32,500 to 37,200 m2). Rosefellow is recognized in the industry for its ability to build warehouses without a prior lease agreement.
“The advantage of Rosefellow is to build warehouses with the characteristics sought by the occupants: the right headroom, the right number of loading docks, well-spaced columns, offices with a limited surface area to maximize the volume of storage,” says broker Étienne Marcoux, of the Étienne & Steve Team at the Colliers agency, who assisted Rosefellow in purchasing the land.
Currently, the vacancy rate for industrial buildings stands at 1.7% in the Montreal region as of 3e quarter 2023. A balanced market is defined by a vacancy rate of around 5%, underlines Mr. Marcoux.
Mr. Jager wants to start construction of the first center in autumn 2024 and deliver it a year later.