Espace Montréal Podcast

Montreal's office market is facing a growing divide. While premium office buildings are filling up, Class B and C properties continue to struggle with vacancies.

In this episode of the Espace Montreal Podcast, Axel Monsaingeon welcomes back Lloyd Cooper, Executive Vice Chairman at Cushman & Wakefield, to explore how major bank relocations, return-to-office mandates, and the flight to quality are reshaping downtown Montreal.

They discuss BMO's expansion at 1250 René-Lévesque, the shortage of Class AAA office space, potential new developments, and what landlords must do to remain competitive.

From office conversions to Quebec City's leasing activity, discover where the opportunities and challenges lie in today's commercial real estate market.

This episode is sponsored by ClickSpace.

Click Space is redefining the future of office space in Montreal with turnkey offices, storage, 3PL, conference rooms, lounges, and niche communities for ecommerce entrepreneurs, women entrepreneurs, and AI-focused businesses.

Spaces start at just $550/month, and paid referral partnerships are available for brokers.

Learn more: https://clickspace.ca/ Get in touch: [email protected]

Mentioned resources:

BMO Financial Group: https://www.bmo.com/country-language-selector/

Alto High-Speed Rail: https://www.altotrain.ca/en

🌐 Explore more resources

📊 Market guides, data, and advertising opportunities: https://www.e5pace.com/

🔗Connect with Lloyd Cooper

💼 LinkedIn: https://www.linkedin.com/in/mtlofficespace/

🏢 Cushman & Wakefield: https://www.cushmanwakefield.com/en

👤Follow Axel Monsaingeon

💼 LinkedIn: https://www.linkedin.com/in/axel-monsaingeon-42577b28/

📸 Instagram: https://www.instagram.com/axelmonsaingeon

Topics and timestamps

🏙️ Montreal's office leasing activity (00:01:24)

🏦 Banks return to downtown offices (00:02:59)

📍 BMO's expansion at 1250 René-Lévesque (00:05:47)

📉 Class AAA office space shortage (00:08:34)

🏢 The divide between premium and older buildings (00:11:39)

🛠️ Why amenities drive leasing demand (00:12:08)

⏳ Planning office leases five years ahead (00:14:31)

🏗️ Potential new downtown developments (00:15:18)

🚆 Transit connectivity and the South Block opportunity (00:16:25)

🌐 Montreal's potential NATO Defence Bank opportunity (00:17:44)

📐 Redeveloping existing office towers (00:18:11)

🚇 Why location and transit access matter (00:20:52)

📊 Quebec City's commercial leasing activity (00:22:47)

🔄 Office conversions and alternative uses (00:23:53)

💰 How Class B landlords can compete (00:25:51)

🔑 Investment opportunities in older office buildings (00:26:11)

In this episode of the Espace Montréal Podcast, Axel Monsaingeon sits down with Richard Dansereau, Vice President at Desjardins, to explore the lessons behind a career in global commercial real estate investment.

From costly investment mistakes in New York to managing Desjardins' real estate fund, Richard shares why due diligence, disciplined risk management, and strong partnerships matter more than ever.

Discover how Desjardins is diversifying its portfolio across Canada, where it sees opportunities in retail, multifamily, industrial, and seniors housing, and why lasting relationships can become an investor's greatest competitive advantage.

This episode is sponsored by ClickSpace.

Click Space is redefining the future of office space in Montreal with turnkey offices, storage, 3PL, conference rooms, lounges, and niche communities for ecommerce entrepreneurs, women entrepreneurs, and AI-focused businesses.

Spaces start at just $550/month, and paid referral partnerships are available for brokers.

Learn more: https://clickspace.ca/ Get in touch: [email protected]

Mentioned resources:

CDPQ: https://www.lacaisse.com/fr

Stonehenge NYC: https://www.stonehengenyc.com/

Boardwalk REIT: https://www.bwalk.com/en-ca/

KingSett Capital: https://www.kingsettcapital.com/

🔗Connect with Richard Dansereau

💼 LinkedIn: https://www.linkedin.com/in/richarddansereau/

🏢 Desjardins: https://www.desjardins.com/

👤Follow Axel Monsaingeon 💼 LinkedIn: https://www.linkedin.com/in/axel-monsaingeon-42577b28/ 📸 Instagram: https://www.instagram.com/axelmonsaingeon

🌐 Explore more resources 📊 Market guides, data, and advertising opportunities: https://www.e5pace.com/

Topics and timestamps

🏗️ Richard's journey into real estate (00:00:00)

🌎 Global investments and high-risk strategies (00:04:09)

⚠️ Costly deals and lessons in due diligence (00:06:11)

🗽 Doing business in New York (00:11:19)

🏦 Leading Desjardins' real estate fund (00:14:55)

💰 Capital advantages and off-market opportunities (00:20:46)

🏢 Diversifying across asset classes (00:23:35)

🤝 Strategic partnerships across Canada (00:25:01)

📊 Portfolio allocations and investment priorities (00:26:57)

👵 Seniors housing and demographic demand (00:28:32)

🔗 Why relationships create opportunities (00:31:36)

What does it take to transform aging industrial buildings into thriving business hubs? And why should Montreal rethink the way it develops its neighborhoods?

In this episode of the Espace Montréal Podcast, host Axel Monsaingeon welcomes commercial real estate broker Mike Merten to explore how Montreal's Mile End evolved into a creative and technology hub. Drawing on decades of experience, Mike explains how strategic leasing, affordable spaces, and a neighborhood-focused vision can breathe new life into underused properties.

The conversation also explores the importance of walkable neighborhoods, public transportation, and connectivity in commercial real estate. Discover why successful urban development goes beyond buildings and rental rates to create places where businesses, communities, and people can thrive.

This episode is sponsored by ClickSpace.

Click Space is redefining the future of office space in Montreal with turnkey offices, storage, 3PL, conference rooms, lounges, and niche communities for ecommerce entrepreneurs, women entrepreneurs, and AI-focused businesses.

Spaces start at just $550/month, and paid referral partnerships are available for brokers.

Learn more: https://clickspace.ca/ Get in touch: [email protected]

🔗Connect with Mike Merten

💼 LinkedIn: https://www.linkedin.com/in/mike-merten-13a68b51/ 🏢 STRATEGIQUE Real Estate Solutions Inc: https://srescorp.com/en

👤Follow Axel Monsaingeon 💼 LinkedIn: https://www.linkedin.com/in/axel-monsaingeon-42577b28/ 📸 Instagram: https://www.instagram.com/axelmonsaingeon

MENTIONED RESOURCES:

BIXI Montreal: https://bixi.com/fr/

What does it take to build a successful career in commercial real estate when the odds are stacked against you?

In this episode of the Espace Montreal Podcast, Axel Monsaingeon sits down with Jenny-Kate Sgarbi, President of CREW M, to explore the challenges of entering a male-dominated industry, the costly lessons that shaped her career, and why relationships are the foundation of long-term success.

From navigating brokerage and protecting your value to mentorship, leadership, and advancing women in real estate, discover practical insights on building confidence, creating opportunities, and growing a lasting career.

The conversation also looks ahead to the CREW M Excellence Gala on November 17, where Espace Montréal Podcast will record live and celebrate leadership and excellence in commercial real estate.

This episode is sponsored by ClickSpace.

Click Space is redefining the future of office space in Montreal with turnkey offices, storage, 3PL, conference rooms, lounges, and niche communities for ecommerce entrepreneurs, women entrepreneurs, and AI-focused businesses.

Spaces start at just $550/month, and paid referral partnerships are available for brokers.

Learn more: https://clickspace.ca/ Get in touch: [email protected]

🔗Connect with Jenny-Kate Sgarbi

💼 LinkedIn: https://www.linkedin.com/in/jennykatesgarbi/ 🏢 CREW M: https://crewm.com/

👤Follow Axel Monsaingeon 💼 LinkedIn: https://www.linkedin.com/in/axel-monsaingeon-42577b28/ 📸 Instagram: https://www.instagram.com/axelmonsaingeon

MENTIONED RESOURCES:

CREW Network: https://crewnetwork.org/

Institut de développement urbain du Québec (IDU) - Professional networking and industry development: https://www.idu.quebec/fr/

BOMA Québec: https://boma-quebec.org/en

CREW M Excellence Gala: November 17 event recognizing women and industry allies in commercial real estate: https://crewm.com/produit/gala-excellence-2026/

🌐 Explore more resources 📊 Market guides, data, and advertising opportunities: https://www.e5pace.com/

Topics and timestamps

🏙️ Breaking into commercial real estate (00:00:00)

🚧 Overcoming barriers in a male-dominated industry (00:07:27)

💰 Costly brokerage mistakes and lessons learned (00:10:08)

🤝 Why relationships drive success (00:13:28)

👩‍💼 Mentorship and the journey to CREW M (00:16:09)

🌟 Leadership, visibility, and industry partnerships (00:26:28)

💡 Career advice for young professionals (00:30:01)

🏆 CREW M Excellence Gala and industry recognition (00:34:12)

Un locataire peut-il résilier son bail commercial lorsqu'un propriétaire ne respecte pas ses engagements?

Dans cet épisode d'Espace Montréal Podcast, Axel Monsaingeon reçoit François Nantel, avocat chez Cain Lamarre, pour analyser une décision judiciaire ayant entraîné plus de 250 000 $ en dommages.

Découvrez les risques d'une résiliation unilatérale, l'importance des ententes négociées et les clauses essentielles pour protéger propriétaires et locataires commerciaux.

This episode is sponsored by ClickSpace.

Click Space is redefining the future of office space in Montreal with turnkey offices, storage, 3PL, conference rooms, lounges, and niche communities for ecommerce entrepreneurs, women entrepreneurs, and AI-focused businesses.

Spaces start at just $550/month, and paid referral partnerships are available for brokers.

Learn more: https://clickspace.ca/ Get in touch: [email protected]

Sujets et horodatages

⚖️ Le droit immobilier et l'accompagnement juridique (00:02:09)

🏥 Une clinique privée de pharmacie (00:05:31)

📝 Une entente qui complique la résiliation (00:08:19)

💸 Une résiliation à plus de 250 000 $ (00:10:30)

🛡️ Les recours possibles pour le locataire (00:15:09)

🔒 Les clauses d'exclusivité commerciale (00:18:13)

🏬 L'obligation d'exploitation continue (00:19:20)

📈 L'importance de la synergie commerciale (00:20:24)

🔗 Connectez-vous avec François Nantel

💼 LinkedIn:https://www.linkedin.com/in/fran%C3%A7ois-nantel-88924576/ 🏢 CAIN LAMARRE: https://cainlamarre.ca/

👤Suivez Axel Monsaingeon 💼 LinkedIn: https://www.linkedin.com/in/axel-monsaingeon-42577b28/ 📸 Instagram: https://www.instagram.com/axelmonsaingeon

🌐 Explorez plus de ressources

📊 Guides de marché, données et opportunités publicitaires: https://www.e5pace.com/

Le parc locatif québécois vieillit, les rénovations coûtent de plus en plus cher et la relève des petits propriétaires devient un enjeu majeur.

Dans cette deuxième partie d'Espace Montréal Podcast, Axel Monsaingeon poursuit sa conversation avec Éric Sansoucy, porte-parole de la CORPIQ, autour de quatre grands chantiers pour l'habitation au Québec. Gouvernance, rénovation, soutien aux personnes vulnérables et transmission du parc locatif : découvrez les propositions avancées pour préserver un modèle immobilier unique et mieux répondre aux réalités du terrain.

This episode is sponsored by ClickSpace.

Click Space is redefining the future of office space in Montreal with turnkey offices, storage, 3PL, conference rooms, lounges, and niche communities for ecommerce entrepreneurs, women entrepreneurs, and AI-focused businesses.

Spaces start at just $550/month, and paid referral partnerships are available for brokers.

Learn more: https://clickspace.ca/ Get in touch: [email protected]

Sujets et horodatages

🏘️ Pourquoi le modèle locatif québécois est unique (00:02:54)

🧭 Quatre grands chantiers pour l'habitation (00:05:14)

📊 Mieux décider grâce aux données (00:07:37)

🏛️ Mieux coordonner les politiques d'habitation (00:09:34)

🔨 Comment relancer la rénovation du parc locatif (00:12:27)

💰 Le poids financier sur les petits propriétaires (00:18:24)

🤝 Mieux soutenir les locataires vulnérables (00:21:42)

🏠 Prévenir l'itinérance en amont (00:23:55)

🔑 Faciliter la relève des propriétaires (00:26:20)

📈 Encourager le réinvestissement immobilier (00:28:42)

🔗 Connectez-vous avec Éric Sansoucy

💼 LinkedIn:https://www.linkedin.com/in/eric-sansoucy-44098952/ 🏢 CORPIQ LinkedIn: https://www.linkedin.com/company/corpiq/home/

👤Suivez Axel Monsaingeon 💼 LinkedIn: https://www.linkedin.com/in/axel-monsaingeon-42577b28/ 📸 Instagram: https://www.instagram.com/axelmonsaingeon

🌐 Explorez plus de ressources

📊 Guides de marché, données et opportunités publicitaires: https://www.e5pace.com/

Le marché locatif québécois évolue rapidement, entre nouvelles réglementations, hausse des coûts, vacance et incertitude.

Dans cet épisode d'Espace Montréal Podcast, Axel Monsaingeon reçoit Éric Sansoucy, porte-parole de la CORPIQ, pour comprendre comment l'organisation accompagne les propriétaires, de la gestion quotidienne aux enjeux réglementaires. Ils abordent aussi le risque réglementaire, l'importance de meilleures données sur l'habitation et les grands défis qui façonneront l'avenir du parc locatif québécois.

L'épisode souligne notamment que la CORPIQ représente environ 30 000 membres et 600 000 logements, tout en offrant des outils, du soutien-conseil et une représentation auprès du gouvernement.

This episode is sponsored by ClickSpace.

Click Space is redefining the future of office space in Montreal with turnkey offices, storage, 3PL, conference rooms, lounges, and niche communities for ecommerce entrepreneurs, women entrepreneurs, and AI-focused businesses.

Spaces start at just $550/month, and paid referral partnerships are available for brokers.

Learn more: https://clickspace.ca/ Get in touch: [email protected]

🔗 Connectez-vous avec Éric Sansoucy

💼 LinkedIn:https://www.linkedin.com/in/eric-sansoucy-44098952/ 🏢 CORPIQ LinkedIn: https://www.linkedin.com/company/corpiq/home/

👤Suivez Axel Monsaingeon 💼 LinkedIn: https://www.linkedin.com/in/axel-monsaingeon-42577b28/ 📸 Instagram: https://www.instagram.com/axelmonsaingeon

🌐 Explorez plus de ressources

📊 Guides de marché, données et opportunités publicitaires: https://www.e5pace.com/

Sujets et horodatages

🏢 La CORPIQ et son rôle auprès des propriétaires (00:01:36)

🛠️ Les outils pour simplifier la gestion locative (00:03:31)

⚖️ Éviter les erreurs dans un cadre réglementaire complexe (00:07:28)

🏛️ Représenter les propriétaires auprès du gouvernement (00:10:24)

📊 Comprendre la nouvelle réalité du marché locatif (00:11:34)

⚠️ Le risque réglementaire en immobilier (00:15:26)

🔭 Les priorités pour l'avenir de la CORPIQ (00:17:16)

🏘️ Les quatre grands chantiers pour l'habitation au Québec (00:20:02)

Pourquoi la productivité du Québec peine-t-elle à progresser?

Axel Monsaingeon reçoit Robert Gagné pour analyser les politiques publiques qui influencent la compétitivité des entreprises québécoises. Subventions, crédits d'impôt, taxe sur la masse salariale, innovation, commerce international et pénurie de main-d'œuvre: découvrez les changements qui pourraient favoriser une économie plus productive et résiliente.

This episode is sponsored by ClickSpace.

Click Space is redefining the future of office space in Montreal with turnkey offices, storage, 3PL, conference rooms, lounges, and niche communities for ecommerce entrepreneurs, women entrepreneurs, and AI-focused businesses.

Spaces start at just $550/month, and paid referral partnerships are available for brokers.

Learn more: https://clickspace.ca/ Get in touch: [email protected]

🌐 Explorez plus de ressources

📊 Guides de marché, données et opportunités publicitaires: https://www.e5pace.com/

Sujets et horodatages

📉 Le retard de productivité du Québec et du Canada (00:02:50) 💰 Subventions et dépendance au soutien de l'État (00:05:29) 🌎 Guerre commerciale, exportations et compétitivité (00:11:41) 🏛️ Comment repenser le soutien aux entreprises (00:18:46) 🧾 Crédits d'impôt et efficacité de la R&D (00:19:11) 👥 Le poids de la taxe sur la masse salariale (00:23:43) 🗳️ Élections, immigration et pénurie de main-d'œuvre (00:28:00) 🏭 L'impact de la main-d'œuvre sur la croissance (00:30:59)

🔗 Connectez-vous avec Robert Gagné

💼 LinkedIn:https://www.linkedin.com/in/robert-gagn%C3%A9-ba8a232b8/ 🏢 CIRANO: https://cirano.qc.ca/fr

🏢 HEC Montreal: https://www.linkedin.com/school/hecmontreal/

🏢 Centre sur la productivité et la prospérité: https://cpp.hec.ca/

👤Suivez Axel Monsaingeon 💼 LinkedIn: https://www.linkedin.com/in/axel-monsaingeon-42577b28/ 📸 Instagram: https://www.instagram.com/axelmonsaingeon

Nikolai Ray returns to Espace Montréal Podcast to explain why his real estate strategy is expanding from Sherbrooke to Edmonton. He and host Axel Monsaingeon explore diversification, concentration risk, market selection, development timing, immigration, and why today's investors need more knowledge, patience, and resilience. Nikolai also shares how his team evaluates new markets and why long-term investors must adapt their strategy as real estate cycles change.

This episode is sponsored by ClickSpace.

Click Space is redefining the future of office space in Montreal with turnkey offices, storage, 3PL, conference rooms, lounges, and niche communities for ecommerce entrepreneurs, women entrepreneurs, and AI-focused businesses.

Spaces start at just $550/month, and paid referral partnerships are available for brokers.

Learn more: https://clickspace.ca/ Get in touch: [email protected]

Topics and timestamps

🌎 Why Nikolai Ray is expanding beyond Quebec (00:02:37)

📈 Why Edmonton stood out as an investment market (00:04:37)

🔎 How to research and enter a new real estate market (00:06:51)

🤝 Building a local team from scratch (00:09:12)

🏗️ Scaling before moving into development (00:10:36)

🛡️ Managing concentration and currency risk (00:13:15)

⏳ Why patience matters in real estate development (00:16:17)

🔄 Investing through changing real estate cycles (00:18:23)

🏘️ Immigration, population growth and housing demand (00:20:06)

🎓 Why real estate investors need more education today (00:22:38)

🌊 Preparing for a more volatile investment environment (00:26:24)

📅 Quebec Real Estate Week (00:27:49)

🔗Connect with Nikolai Ray

💼 LinkedIn: https://www.linkedin.com/in/nikolairay/ 🏢 Ikigai Impact: https://ikigai-impact.com/

👤Follow Axel Monsaingeon 💼 LinkedIn: https://www.linkedin.com/in/axel-monsaingeon-42577b28/ 📸 Instagram: https://www.instagram.com/axelmonsaingeon

🌐 Explore more resources 📊 Market guides, data, and advertising opportunities: https://www.e5pace.com/

Dans cette deuxième partie, Axel Monsaingeon poursuit sa conversation avec Yves Bouchard, directeur de la location bureau chez Devimco. De Maestria à Bridge-Bonaventure, Panama et Sainte-Julie, ils explorent comment Devimco adapte ses grands projets à un marché immobilier plus exigeant. Au cœur de l'épisode : densification, transport collectif, mixité des usages, sélection des sites et intégration verticale. Une discussion sur les stratégies qui permettent de continuer à développer malgré les changements de cycle.

This episode is sponsored by ClickSpace.

Click Space is redefining the future of office space in Montreal with turnkey offices, storage, 3PL, conference rooms, lounges, and niche communities for ecommerce entrepreneurs, women entrepreneurs, and AI-focused businesses.

Spaces start at just $550/month, and paid referral partnerships are available for brokers.

Learn more: https://clickspace.ca/ Get in touch: [email protected]

Sujets et horodatages

🏙️ Maestria et son impact sur le centre-ville (00:01:26)

🏗️ Les défis derrière un projet de cette ampleur (00:03:52)

🌉 Où en est Bridge-Bonaventure? (00:06:04)

📅 Un début de développement prévu en 2027 (00:09:02)

🚆 Panama et un nouveau projet connecté au REM (00:11:22)

📉 Développer malgré un marché plus difficile (00:14:11)

🚌 Sainte-Julie et la stratégie axée sur le transport (00:15:39)

⚙️ L'avantage d'une entreprise intégrée verticalement (00:16:12)

🔮 Les projets qui façonneront les prochaines années (00:18:24)

☕ Les nouvelles enseignes choisies pour Solar (00:19:31)

🔗 Connectez-vous avec Yves Bouchard

💼 LinkedIn:https://www.linkedin.com/in/yvesbouchardd/ 🏢 Groupe Devimco: https://devimco.com/

👤Suivez Axel Monsaingeon 💼 LinkedIn: https://www.linkedin.com/in/axel-monsaingeon-42577b28/ 📸 Instagram: https://www.instagram.com/axelmonsaingeon

🌐 Explorez plus de ressources

📊 Guides de marché, données et opportunités publicitaires: https://www.e5pace.com/