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Commercial Space for Lease2,900 square feet of commercial space available for lease on Westmount’s premier retail artery
1329 Greene Avenue, Westmount
Mark SinnettExecutive Vice PresidentCommercial and Retail Properties GroupReal Estate BrokerJones Lang LaSalleT. +1 514 667 [email protected]
Armen MarkarianAssociateCommercial and Retail Properties GroupCommercial Real Estate BrokerJones Lang LaSalleT. +1 514 667 [email protected]
2,900 SF of prime retail space with an additional 800 SF of finished basement for lease on prestigious Greene Avenue
Highlights
• 2,900 square feet of commercial space for lease on Greene Avenue on the corner of de Maisonneuve Boulevard West in Westmount’s primary retail node.
• Features high-quality finishings including hard wood floors, a 15-foot ceiling, a 30-foot glass façade, a loading dock and a freight elevator.
• Additional 2,600 square feet of basement space, of which 800 square feet are finished; the remaining 1,800 square feet can be used for storage.
• One parking stall is also available.
• Strong retail environment characterized by a unique village-like atmosphere and known for its upscale boutiques, restaurants and bistros, art galleries and antique dealers.
• Local tenants include the Bank of Montréal, Scotia Bank, Second Cup, Les Cinq Saisons, Jean-Coutu Pharmacy, Restaurant Chez Nick, Au Pain Doré, Bistro on the Avenue, La Cache, etc.
• In the heart of the prestigious City of Westmount, known for its exceptional quality of life, high household income and unique residential character.
Net Asking Rent: $40 psf ($9,660 monthly)
Additional Rent: $21 psf ($5,057 monthly)
1329 Greene Avenue, Westmount Commercial and Retail Properties Group | Page 2
1329 Greene Avenue, Westmount
Renovated space featuring high-quality finishings
1329 Greene Avenue, Westmount Commercial and Retail Properties Group | Page 3
Floor Plan
1329 Greene Avenue, Westmount Commercial and Retail Properties Group | Page 4
Heavy pedestrian traffic generated by Greene Avenue’s unique village-like atmosphere
Retail Environment
Greene Avenue, which runs north-south down from Sherbrooke Street West, is considered to be Westmount’s premier retail node. It is known for its upscale shops, restaurants, art galleries and antique dealers and its village-like atmosphere that encourages shoppers to stroll and window-shop. It features a number of local institutions, such as Nicolas Hoare, a popular independent bookstore, Chez Nick’s, Bistro on the Avenue, Vago, Emma Boutique, Georges Rech, Galerie D’Este, and respected antiquities shops, like Lapidarius and Coach House Antiques. Other well-known retailers include Lululemon, Les Cinq Saisons, Starbucks, and Au Pain Doré.
At the heart of one of Montréal’s most prestigious, upscale neighbourhoods
Market Overview
The City of Westmount distinguishes itself from other Montréal boroughs for its exceptional quality of life, as illustrated by the many luxurious residences which line the quiet, winding roads. Although only a few minutes away from downtown Montréal, Westmount retains a distinctively residential character, with commercial activity centered around Sherbrooke Street West, Sainte-Catherine Street West and Greene Avenue.
Indicative of Westmount’s unique character, household incomes, median age, and educational levels here are significantly higher than in the Greater Montréal Area.
Almost 28% of Westmount households report incomes in excess of $250,000, with the average household income resting at $226,499, as compared to the GMA average of $76,157. The median age in Westmount is also significantly higher than the rest of the island, 45.9 as compared to 39.4. It is also important to note that the majority of Westmount’s population hold a
bachelor’s degree or higher (68%) whereas only 24% of the GMA’s population have completed post-secondary education.
This is reflected in the area’s economic activity, where we find one of the city’s lowest unemployment rates (4.9%). Occupations in management (20%), in social science, education, government and religion (18.4%) and sales and services (18%) represent the largest employment sectors. No doubt the health and natural and applied sciences occupations will come to play a bigger role upon the completion of the MUHC’s Glen Campus, an estimated $1,343 billion investment in the area. Other major employers include the Canadian Union of Public Employees (CUPE), the Dale Parizeau Morris Mackenzie insurance firm, Dawson College and Xerox Canada.
1329 Greene Avenue, Westmount Commercial and Retail Properties Group | Page 5
About the Commercial and Retail Properties GroupJLL’s Commercial and Retail Properties Group specializes in the acquisition, disposition and leasing of commercial, semi-commercial and retail properties both in the Greater Montréal Area and throughout the province. The group offers:• Acquisition and disposition services;• Leasing and landlord representation services;• Asset review and financial analysis; and• Investment strategy development and due diligence support.Our main objective is to ensure that our clients receive maximum value for their real estate investments. Our approach, tools and processes have all been optimized to meet this goal, allowing us to successfully transact the majority of our assignments. In addition to our 20 years of cumulative experience, we offer industry-leading research, market intelligence, and unmatched exposure to investors, retailers, users, and developers across the country.
About JLLJLL (NYSE:JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual revenue of $4 billion, JLL operates in 75 countries worldwide. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3 billion square feet and completed $99 billion in sales, acquisitions and finance transactions in 2013. Its investment management business, LaSalle Investment Management, has $47.6 billion of real estate assets under management.
Jones Lang LaSalle Real Estate Services Inc.Real Estate Agency1 Place Ville Marie, Suite 2121Montréal, Québec, H3B 2C6Tel. +1 514 849 8849www.jll.ca
Mark SinnettExecutive Vice PresidentCommercial and Retail Properties GroupReal Estate BrokerJones Lang LaSalleT. +1 514 667 [email protected]
Armen MarkarianAssociateCommercial and Retail Properties GroupCommercial Real Estate BrokerJones Lang LaSalleT. +1 514 667 [email protected]
