On January 15, 2002, North American Development Group purchased 104 acres of land in Boucherville on the south shore of Montreal to build a mixed-use retail and office project. The retail power centre will be anchored by a 295,000 square foot IKEA furniture store that is scheduled to open in the spring of 2003. The value of the deal is undisclosed.
Glenn Munro, vice-president of development for North American leads the project. North American was represented by Fredric Carsley of Mendelsohn Rosentzveig Shacter in Montreal, assisted by Philipp Duffy, Illana Perez and Jo-Anne Durand. IKEA was represented by Paul Mayer of Fasken Martineau DuMoulin LLP, assisted by Daniel Martin and Anne Drost in Montreal.