Primaris Real Estate Investment Trust recorded the largest real estate sales transaction in Canada in the final quarter of 2025 after acquiring the enclosed Promenades Saint-Bruno shopping center in Montreal for US$565 million in cash and shares.
The project received the Best Quarterly Deal award from CoStar Group’s Power Broker program. The center spans more than one million square feet and features major retailers such as Lululemon Athletica, Sephora, and Best Buy Express, generating annual sales exceeding US$271 million.
Key Leasing Deals in the Final Quarter:
Office Lease: Royal Bank of Canada signed the country’s largest office lease by renting 326,347 square feet at Simcoe Place in Toronto under a 4–5 year agreement. The bank will occupy around 40% of the building starting February 21.
Industrial Lease: TD Synnex leased 1.1 million square feet in an industrial facility in Caledon as part of the “Station 12” project, which is expected to be delivered in October 2027.
Retail Lease: Altea Active leased a 125,823-square-foot health club in Edmonton under a long-term 20-year lease extending through 2046.
These transactions reflect the strength of the Canadian real estate market across commercial, industrial, and office sectors, with continued demand for high-quality properties and strategically located assets.
