In a merger of equals — NAI Commercial Montreal and Terramont Real Estate Services Inc., two of Montreal’s top commercial real estate firms, will join forces and beginning March 1 will operate as NAI Terramont Commercial. With the merger, the official NAI Global office in Montreal enters the top 5 firms serving the office, industrial, retail, tenant and investor market in Canada’s second biggest city, announced Paul-Eric Poitras, President of the newly formed entity NAI Terramont Commercial.
Poitras was President of NAI Commercial Montreal, which began operations in 2005 and as a company has primarily served industrial property owners and occupiers, as well as local, national and international commercial property investors and sellers. Since 1998 Terramont has been providing corporate real estate solutions for some of North America’s leading companies locally, nationally, across the U.S. and around the world. Terramont’s strength has historically been in the tenant representation and office leasing arenas. For international client services, Terramont had formerly been affiliated with Cresa Partners and later, TCN Worldwide.
NAI Terramont Commercial will initially consolidate offices into NAI Commercial’s location at 615 René-Lévesque Blvd W, Montreal, QC H3B 1P9, Canada. Combined, with 22 brokers NAI Terramont Commercial becomes the 5th largest commercial real estate services firm ranked by the number of brokers in Montreal.
“The combined firms are complementary in so many ways and the primary beneficiaries of the merger will be our respective clients, which will now have a single resource to provide all of their real estate needs regionally as well as nationally, and with NAI Global’s backing, globally,” said Paul-Eric Poitras.
Added Jean-Marc LeBlanc, who had been a Senior Vice President and co-founder of Terramont and now assumes the role of Senior Partner at NAI Terramont Commercial: “The strength and operating efficiency achieved by blending two great and entrepreneurial commercial real estate businesses will not only enable us to pursue new business that may have otherwise been out of reach for our firms individually, the merger also gives us fresh opportunity to consider acquisitions of other local and boutique commercial real estate companies and grow throughout Northeastern Canada.”
Other goals of the new company, according to Poitras, include establishing an alliance with a strong and local firm offering building management, project management, lease administration and legal services. The firm also intends to invest in technology on a regular basis to offer its clients and brokers the most advanced and mobile experience in the commercial real estate industry.
Michelle Moller, a former principal of Terramont, is one of the three managing partners of NAI Terramont along with LeBlanc and Poitras.
Jay Olshonsky, FRICS, SIOR and President of New York-based NAI Global, said he was thrilled to have an even better and bigger presence serving the Montreal marketplace.
“NAI Commercial Montreal has historically been one of the most active participants in our leadership groups and at global conferences, as well as being one of the most active trading partners in deal generation out of Canada with U.S. and other NAI firms worldwide. Adding the quality and depth of personnel that Terramont represents for us in Quebec Province is an absolute win-win for NAI Global,” Olshonsky said.
NAI Global is one of the largest commercial real estate brokerage firms in Canada with nine offices spread across the country providing leadership and market insight to local, pan-Canadian and international investors. The newly formed NAI Terramont Commercial based in Montreal, Quebec, boasts an experienced and energized team of brokers, offering tailored brokerage services in the leasing and disposition of office, industrial and retail properties, as well as servicing the real estate investment market. To learn more, visit www.naiterramont.ca.
NAI Global provides a complete range of corporate and institutional real estate services, including brokerage and leasing, property and facilities management, real estate investment and capital market services, due diligence, global supply chain and logistics consulting and related advisory services. To learn more, visit www.naiglobal.com.