Terracap acquired 5000 Taschereau Boulevard in 2006 The centre borders the City of Brossard and Greenfield Park Borough, east of Highway 10 on the south shore of the greater municipality of Montreal, Quebec.
With a prime location in a high-traffic street surrounded by strong middle income demographics, Terracap recognised the centre’s potential. At the time of purchase, the retail centre was in a poor state, enabling Terracap to purchase the property at a price of $45 per square foot, with an initial capitalisation rate of 9.45% on in-place income.
Terracap demolished the interior mall and remerchandised the centre into a community shopping centre. The centre is now well-maintained with ample parking, and anchored by tenants like Super C , Michaels, a Nephrologhy Clinic, SAQ, and L’Equippeur.
The façade was renovated in 2016, with an additional landscaping update and new corporate branding. The centre’s 242,000 square feet of rentable area is currently leased at 60%, and future plans involve attracting new tenants for the property.