Montoni Group has announced an ambitious long-term plan to develop up to two million square feet of new industrial capacity at the Dieppe Industrial Park in New Brunswick, just outside the city of Moncton.
Montoni, which is based in Montreal, is touting the city’s location at a key transportation hub in the province. The site has access to highways 2, 11 and 15, and rail links to three nearby deepwater ports, as well as a strategic location next to the Roméo LeBlanc International Airport, which has seen significant growth in both passenger and domestic/international cargo traffic in recent years.
The announcement was made Thursday in Dieppe in conjunction with Expansion Dieppe, a local economic development agency, which was founded in 1973 as Dieppe Industrial Park Ltd.
“We are very proud to be concluding our very first development agreement in the Maritimes,” said Dario Montoni, the president of Montoni Group, in the announcement. “When we expand into new cities, we always prioritize working with local construction companies and subcontractors. I believe this is the key to success.”
Montoni estimates the value of the development at $125 million, though this would be spread over various phases of construction.
There was no immediate commitment announced for companies to take space at the site, but Montoni told local media his firm has received expressions of interest.
Major addition to Moncton area industrial capacity
The scope of potential development at the Dieppe property would result in a major expansion of the growing region’s industrial capacity. According to Colliers’ Q2 industrial report for the Moncton area, it has an inventory of just under 3.8 million square feet.
Vacancy has been steadily declining to 7.4 per cent across the region, although the Dieppe area had a vacancy of just 1.4 per cent – about 10,000 square feet.
“Dieppe Industrial Park plays a strategic role as an economic driver, attracting top-tier companies because of its ideal location and direct access to major North American markets,” said Louis Godbout, the executive director of Expansion Dieppe in the announcement. “This partnership with Montoni testifies to the strong professional relationship we have long enjoyed with the people behind this organization.
“This agreement is in keeping with our vision of a sustainable expansion that generates local opportunities and strengthens our region’s economic vitality.”
The logistics hub, supported by a rail network, facilitates the distribution of goods across Canada and the northeastern United States, with local officials saying it serves over 70 million consumers with delivery times of under 24 hours.
The industrial park is already home to a number of major companies including J.D. Irving, FedEx, Purolator, UPS, BMM Testlabs, Groupe Touchette and Midland Transport. Servicing and a roads network are already in place.
Montoni also notes Dieppe offers a bilingual workforce, with more than three-quarters of its residents speaking both official languages, English and French. “The population is young, dynamic and skilled,” the announcement states, with an average age 40.8, compared with 46.1 for the province of New Brunswick.
About Montoni
Montoni is a developer, builder and real estate manager which has completed more than 700 projects representing over 30 million square feet of industrial, commercial, institutional and residential construction and 30 corporate campuses. The firm has another 25 million square feet under development, mainly in Québec.
It has completed more than 5.2 million square feet of LEED-certified buildings and, among construction projects underway, is targeting LEED certification for nearly seven million square feet.
Construction is also nearing completion on some 4.5 million square feet of Zero-Carbon Building (ZCB) spaces.