Québec City, April 9, 2026 – Immostar announces, in partnership with Primaris REIT (“Primaris”), the acquisition of the North and South commercial complexes located next to Galeries de la Capitale, in the heart of the Lebourgneuf area.
Totaling over 307,900 square feet of gross leasable area, these assets are fully occupied by leading national tenants.
This strategic investment strengthens the presence in one of Québec City’s most dynamic retail hubs and enables an integrated approach to the site’s future development.
Highlights
$62.3 million acquisition, with Immostar as managing partner (75% ownership) and Primaris as non-managing partner (25% ownership);
10 buildings totaling 307,900 sq. ft. on a site of approximately 1,280,000 sq. ft.;
Only 22% of the site is currently built, offering strong development potential;
100% occupancy with 14 major tenants, including 4 on the South side (Rona, Adonis, Bâton Rouge, Quality Suites) and 10 on the North side (BMO, McDonald’s, Cochon Dingue, Renaud-Bray, Lunët Espace Vision, The Brick, Golf Town, Bouclair, Corbeil Appliances and EQ3).
A Long-Term Vision
Beyond the acquisition, Immostar aims to optimize and evolve the North and South complexes with a long-term value creation perspective, aligned with the area’s continued growth.
Together, Immostar and Primaris are not only investing in real estate—they are actively shaping the future of one of Québec City’s most strategic growth corridors.
Media Coverage
RENX - Immostar, Primaris acquire 2 Quebec City retail sites for $62.3M
The Globe And Mail - Immostar and Primaris REIT Strengthen their Presence in Quebec City
TipRanks - Immostar, Primaris REIT expand Quebec City footprint with $63 million retail acquisition
ConnectCRE - Immostar, Primaris Acquire Two Quebec City Retail Centres for $63M
Yahoo!Finance - Immostar and Primaris REIT Acquire Les Galeries de la Capitale for $62.3M