In 2006, Terracap acquired 5000 Taschereau Boulevard, a strategically located retail property on the south shore of the Greater Montreal Area in Brossard, bordering the Greenfield Park Borough. The centre’s prime location on Taschereau Boulevard, a high-traffic arterial road, and its proximity to Highway 10 made it an attractive investment. Situated in a growing area with strong middle-income demographics, the property offered significant untapped potential for redevelopment and value creation. At the time of acquisition, the retail centre was in poor condition, presenting an opportunity for Terracap to purchase it at an exceptionally low price of $45 per square foot, with an initial capitalization rate of 9.45% based on in-place income. Recognizing the site’s potential, Terracap embarked on an ambitious plan to revitalize the property. The original interior mall was demolished and reimagined as a modern, open-concept community shopping centre. This transformation provided greater tenant visibility, enhanced the flow of foot traffic, and created a more functional and inviting layout for both retailers and customers. The redeveloped centre attracted several prominent anchor tenants, including Super C, a leading grocery chain that caters to the needs of the local community, and Michaels, a popular arts and crafts retailer. Additional tenants included SAQ, Quebec’s trusted government-operated liquor store; L’Équipeur (Mark’s), a well-known retailer specializing in apparel and footwear; and a nephrology clinic, adding a health and wellness component to the tenant mix. In 2016, the property underwent further enhancements, including a major façade renovation to give it a fresh, modern appearance. Landscaping improvements were made to enhance the site’s curb appeal, creating a more welcoming environment for shoppers. Terracap also introduced updated corporate branding to reflect the centre’s transformation. With ample parking available, the property now offers a convenient and accessible shopping experience for customers, further increasing its attractiveness to tenants. Spanning 242,000 square feet of rentable area, the centre is currently 60% leased, leaving room to attract additional tenants and maximize the property’s income potential. Situated directly on Taschereau Boulevard and close to Highway 10, the location ensures exceptional visibility and accessibility, drawing consistent traffic from the surrounding neighborhoods of Brossard and Greenfield Park. These areas are characterized by strong middle-income households, providing a stable and reliable customer base for the centre’s tenants. Since its acquisition, 5000 Taschereau Boulevard has become a testament to Terracap’s ability to identify underperforming assets and unlock their potential through strategic redevelopment. By transforming the property into a well-maintained and community-focused shopping destination, Terracap has created significant value for both tenants and investors. The company remains focused on leasing the remaining space and attracting a dynamic mix of tenants to further enhance the centre’s offerings. Looking ahead, Terracap plans to build on the centre’s strong foundations by aligning its tenant mix with the needs of the local community and exploring further upgrades to elevate the customer experience. With its prime location, modern amenities, and potential for growth, 5000 Taschereau Boulevard is well-positioned to remain a key retail hub in the Greater Montreal Area.

Terragreen

Terracap is embarking on a program to ensure that all our properties implement initiatives that adhere to principles of environmental sustainability where practical and these initiatives are representative of ongoing efforts to implement a comprehensive program. The Complexe 5 Mille Shopping Centre offers tenants energy conservation features that include LED lighting in parking areas managed by timers and smart control systems, and on-site recycling containers. Environmentally-friendly cleaning products and a ban against plastic bags are also advocated for Centre businesses. For more information about the Terragreen program visit our News page.