Major Commercial Tenants in Montreal – Largest Occupiers by Square Footage

Overview of Montreal’s Commercial Real Estate Market

Montreal is one of Canada’s largest commercial real estate markets, with a diverse mix of office towers, shopping centres, and industrial parks across the Greater Montreal Area (GMA). The city’s office sector has faced high availability (around 18% in early 2025) as companies reassess space needs post-pandemic (Source: altusgroup.com). Nonetheless, Montreal remains a key office hub with tens of millions of square feet of inventory concentrated downtown and in satellite business districts. The retail sector has proven resilient – demand for well-located retail (especially grocery-anchored strips and malls) remains strong even as some legacy department stores downsize (Source: altusgroup.com). Meanwhile, Montreal’s industrial sector is Canada’s second largest by volume at roughly 360 million sq. ft. of warehouse, logistics, and manufacturing space (Source: avisonyoung.ca). Industrial vacancy, once near 1%, has risen modestly (to ~5–7% in 2024–25) due to a wave of new construction and a major occupier exit (Amazon’s withdrawal from Quebec) (Source: costar.com)(Source: costar.com). Overall, Montreal hosts a wide spectrum of major occupiers: from banks and government agencies in office towers, to big-box retailers in malls, to 3PL logistics and manufacturing giants in industrial parks. Below, we profile the largest commercial tenants by sector – highlighting companies and institutions that occupy the most square footage, with data on their footprints and where they are concentrated.

Top Tenants – Office Sector (Downtown and Beyond)

Montreal’s office market is anchored by large corporate and institutional tenants, many clustered in downtown’s towers. Major banks, government bodies, and headquarters of Quebec-based firms are among the biggest occupiers of office space:

• National Bank of Canada (Banque Nationale) – Approx. 1.4 million sq. ft. Montreal’s largest office tenant is National Bank, which in 2023 consolidated into a new two-tower head office campus downtown (Source: renx.ca)(Source: renx.ca). The bank occupies 40 floors in the 40-storey National Bank Tower (800 Saint-Jacques W.) plus the 10-storey podium of the adjacent 700 Saint-Jacques mixed-use tower, for a total of ~1.4 million sq. ft. of state-of-the-art office space (Source: renx.ca)(Source: renx.ca). This massive footprint houses ~10,000 employees and underscores the finance sector’s presence in Montreal’s core. (National Bank’s move freed older offices – the bank vacated about 700,000 sq. ft. across other downtown buildings upon relocation (Source: costar.com).)

• Government of Canada – Estimated ~1 million+ sq. ft. The federal government is a significant occupier of Montreal offices, with numerous departments and agencies across the city. Its largest concentration is the Complexe Guy-Favreau, a federal office complex spanning an entire city block downtown (12 storeys over 6 acres) (Source: en.wikipedia.org). Guy-Favreau alone offers roughly 1 million sq. ft. of space (combining government offices, a retail atrium and other uses), and hosts agencies like Immigration, Passport Canada, etc. Other federal tenants are spread in buildings such as 1 Place Ville Marie and 1550 Peel (Shared Services Canada), among others. The Government of Québec is also present (though most ministries are in Quebec City), with provincial offices in Montreal – for example, some Quebec government units share space in Complexe Desjardins (Source: en.wikipedia.org). These public-sector occupiers collectively account for well over a million square feet of Montreal office space.

• Desjardins Group – Hundreds of thousands of sq. ft. Desjardins (the large Quebec-based cooperative financial group) maintains its headquarters at Complexe Desjardins, the city’s largest building complex at ~4 million sq. ft. (Source: aecon.com)(Source: en.wikipedia.org). The Desjardins South Tower and other parts of the complex are home to the group’s executive offices and many of its ~4,000 Montreal staff. In addition, Desjardins expanded into Montreal’s East End: in 2019 it leased 167,519 sq. ft. (87% of the available space) in the iconic Olympic Stadium Tower (Source: renx.ca)(Source: renx.ca). This nine-floor Olympic Tower office houses 1,600 Desjardins call center and back-office employees, consolidating teams that were previously in multiple smaller offices (Source: renx.ca). Between its downtown HQ and satellite offices, Desjardins occupies roughly half a million square feet or more, making it one of the top local office tenants.

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1250 René-Lévesque West in downtown Montreal, a 1-million-sq.ft. Class AAA office tower. Its largest tenant, federal pension fund PSP Investments, occupies ~300,000 sq. ft. (about 30% of the building) (Source: renx.ca).

• PSP Investments – 300,000 sq. ft. A notable institutional occupier is the Public Sector Pension Investment Board (PSPIB, or “PSP Investments”), a federal pension fund manager headquartered in Montreal. PSP is the anchor tenant at 1250 René-Lévesque Blvd West (also known as the IBM-Marathon/Sun Life tower), occupying about 30% of the 47-storey tower – roughly 300,000 sq. ft.(Source: renx.ca). This makes PSP the single largest tenant in that 1-million-sq.ft. skyscraper. Other major tenants in 1250 RL include PwC and Air Liquide, but PSP tops them by far (Source: renx.ca). PSP’s footprint reflects the significant presence of pension and financial institutions in Montreal’s office scene. Another federal pension fund, CDPQ (through its real estate arm Ivanhoé Cambridge), is an owner/landlord rather than tenant – but PSP as a tenant underscores the government-affiliated office demand.

• Bell Canada (BCE) – ~840,000 sq. ft. campus. Bell, Canada’s largest telecom company, is headquartered in Montreal and occupies a sprawling corporate campus. The Bell Campus on Nuns’ Island (Verdun borough) consists of five interconnected office buildings totaling ~840,000 sq. ft., plus extensive facilities (parking, amenities) bringing the site to 1.6 million sq. ft. (Source: en.wikipedia.org)(Source: automatedlogic.com). About 4,000 Bell employees work there, after Bell consolidated many offices into this purpose-built HQ. In addition to the Nuns’ Island campus, Bell and its subsidiaries also lease downtown offices (e.g. Bell Media has space at 1800 McGill College). Bell’s nearly million-square-foot owned campus, however, makes it one of the largest single-occupier office sites in Montreal (Source: automatedlogic.com).

• Major Banks and Financial Firms – Several other banks occupy significant office space in Montreal. RBC (Royal Bank of Canada) maintains a major regional office at Place Ville Marie (PVM) – RBC’s name adorns 1 PVM tower, where it leases multiple floors (estimated couple hundred thousand sq. ft.). RBC is also a tenant at 1250 René-Lévesque (via its Capital Markets and wealth management arms) (Source: renx.ca). BMO and CIBC likewise have large offices: CIBC’s main Montreal offices are in Tour CIBC and at 1250 RL (e.g. CIBC Wood Gundy occupies part of 1250 RL) (Source: renx.ca). Scotiabank has a notable presence at Scotia Tower (1002 Sherbrooke W.). Banque de Montréal (BMO) recently built a new Montreal hub at 800 rue de la Gauchetière. In the investment sector, CGI Inc., a Montreal-founded IT consulting giant, occupies its own 1.1M sq. ft. office tower (CGI HQ at 1350 René-Lévesque W., acquired by Groupe Mach (Source: 2727coworking.com)) and other sites – CGI is a major tech-sector tenant. CN (Canadian National Railway), headquartered in Montreal, currently occupies the historic Central Station office complex (~300–400k sq. ft.) but has signed a lease to move to a new downtown tower in 2028, taking 440,000 sq. ft. (18 floors) at 600 de La Gauchetière (Source: renx.ca). This will make CN one of the largest private-sector tenants downtown in coming years. Other sizable office tenants include Air Canada (with headquarters campus near Trudeau Airport), engineering firms like SNC-Lavalin (head office at 455 René-Lévesque W.), accounting firms (each Big Four firm often leases ~50–100k sq. ft., e.g. PwC ~95k sq. ft. at PVM (Source: cbre.ca), Deloitte anchoring 585k sq. ft. at Deloitte Tower (Source: 2727coworking.com), etc.), and video game/tech companies (e.g. Ubisoft Montreal occupies ~250k+ sq. ft. in Mile End (Source: en.wikipedia.org)(Source: en.wikipedia.org), making it the world’s largest game studio by headcount). While smaller than the giants above, these firms contribute significantly to Montreal’s total occupied office area.

Table 1: Largest Office Space Occupiers in Montreal (Approximate Footprints)

Sources: Company disclosures and real estate news reports (Source: renx.ca)(Source: renx.ca) (Source: renx.ca). (Estimates; some organizations own their buildings rather than lease, but are included as occupiers.)

Top Tenants – Retail Sector (Stores and Shopping Centres)

Greater Montreal’s retail landscape is anchored by large-format stores and shopping complexes, and a handful of major retail chains occupy the most square footage:

• Hudson’s Bay (La Baie) – 655,000 sq. ft. The historic Hudson’s Bay Company department store in downtown Montreal is one of the largest retail spaces in Canada, with approximately 655,000 sq. ft. of selling space across seven levels (Source: retail-insider.com). This flagship (at 585 Sainte-Catherine Ouest) has been the Bay’s Quebec anchor since 1891. However, in 2023 Hudson’s Bay announced plans to downsize this store to ~300k sq. ft. and redevelop the upper floors into offices (Source: mr-mag.com). Even so, for now the Bay remains Montreal’s single biggest retail tenant under one roof. Hudson’s Bay also occupies large stores in suburban malls (e.g. ~200,000 sq. ft. at CF Carrefour Laval, and anchors at Galeries d’Anjou and Fairview Pointe-Claire). These giant department store footprints, many dating back decades, make HBC a top retail occupier by area.

• IKEA – 469,000 sq. ft. Swedish furniture retailer IKEA operates Montreal’s largest big-box store. The IKEA Montreal location in Ville St-Laurent was expanded to a colossal 470,000 sq. ft. in 2013 (Source: retail-insider.com), doubling its previous size of ~237,000 sq. ft. The store (the largest IKEA in North America at the time) includes extensive showroom, warehouse, and restaurant space (Source: furnituretoday.com). With nearly half a million square feet, IKEA’s single Montreal outlet is a significant chunk of the region’s retail real estate. (IKEA also has a second area store in Boucherville, but that one is smaller; the Montreal site is the flagship).

• Walmart – Multiple stores, each ~100–170k sq. ft. Walmart Canada has a strong presence in Montreal with numerous Walmart Supercentres across the island and suburbs. A typical Walmart Supercenter averages about 178,000 sq. ft.(Source: stock.walmart.com), though many Montreal Walmarts are in the 130k–160k sq. ft. range. For example, Walmart anchors the Marché Central power centre in Ahuntsic (approximately 150,000 sq. ft. store) and has large outlets in Pointe-Claire, Laval, Brossard (Dix30), etc. In aggregate, Walmart likely occupies well over 1 million sq. ft. in the GMA when all stores are counted. Notably, Walmart is also expanding on the industrial side (see below), but purely as a retailer, its multiple big-box stores make it one of the largest retail occupiers by total area.

• Costco – Multiple warehouses, each ~150k sq. ft. Membership wholesaler Costco operates several warehouse clubs in the Montreal area, each around 145,000–155,000 sq. ft. on average (Source: forbes.com). For instance, the Costco at Marché Central and the one in Pointe-Claire are roughly 148,000 sq. ft. each. Costco’s relatively few but very large stores give it a significant retail footprint (on the order of ~1 million sq. ft. combined across greater Montreal). Additionally, Costco has a newer Costco Business Centre in Saint-Hubert. Each Costco store includes both retail floor and on-site warehousing, contributing to their large size.

• Grocery Chains (Provigo, Metro, IGA) – Major supermarket chains also occupy large cumulative square footage, though spread in many mid-sized stores. Provigo/Loblaws has multiple 60k–120k sq. ft. stores (often former Loblaw “Great Foods” format) and also a massive distribution presence (Provigo’s main Quebec distribution center, however, is industrial – see below). Metro and its discount banner Super C similarly have many ~50k sq. ft. supermarkets around Montreal. Sobeys/IGA (with the IGA Extra format) anchors many suburban malls (IGA Extra in Galeries Laval, for example, is a major tenant in a 530,000 sq. ft. centre (Source: renx.ca)). While no single grocery store rivals an IKEA in size, the chains collectively lease a substantial portion of retail space in Montreal. For example, several Walmart-anchored and grocery-anchored shopping centres on the island combine large footprints (CF Galeries d’Anjou is ~1 million sq. ft., CF Fairview Pointe-Claire ~1M, each with multiple anchors).

• Simons and Other Anchor Stores – Quebec-based fashion retailer La Maison Simons has major stores in the region, such as its 118,000 sq. ft. flagship at CF Carrefour Laval and a 91,000 sq. ft. downtown store at Montreal Eaton Centre. Canadian Tire operates dozens of stores (~40–100k sq. ft. each) – including a prominent multi-level 135,000 sq. ft. store on Sainte-Catherine St. West (with a Marks and Sport Chek). Home Depot and RONA (home improvement) each have multiple big-box outlets ~100k sq. ft. in size as well. Indigo/Chapters (bookstores), Best Buy, and other category killers have a presence, though their individual footprints (20–45k) are smaller. A unique new entrant is the Royalmount mega-mall under development in TMR: its first phase (opening 2024) is 824,000 sq. ft. and will host dozens of luxury brand stores (albeit each individual store is small) (Source: costar.com)(Source: retail-insider.com). The Royalmount project and the revitalization of downtown’s Ste-Catherine Street (with new flagships like Uniqlo ~40k sq. ft., Decathlon ~35k sq. ft., etc.) are adding modern retail space, but the largest occupiers remain the big legacy anchors and big-box chains.

Table 2: Examples of Major Retail Occupiers in Montreal (by Store Size)

Sources: Retailer disclosures, shopping centre data (Source: retail-insider.com)(Source: furnituretoday.com). (Figures are approximate; many retailers have multiple stores adding up to large total footprints in the region.)

Top Tenants – Industrial and Logistics Sector

Montreal’s industrial and logistics sector is vast, housing warehouses, distribution centers, manufacturing plants and freight hubs. The largest occupiers by square footage include retail distribution operations, 3PL logistics providers, and manufacturing firms:

• Amazon (formerly) – ~3 million sq. ft. (vacating in 2025). E-commerce giant Amazon had rapidly become one of Montreal’s biggest industrial tenants, opening numerous fulfillment and delivery centers in 2019–2021. This included a ~500,000 sq. ft. distribution facility in Lachine (on Montreal Island) (Source: costar.com)(Source: costar.com), another ~500k facility in Coteau-du-Lac, a 208k center in Longueuil, a ~250k site in Laval, and several smaller delivery stations – totaling nearly 3 million sq. ft. across 7 Montreal-area sites(Source: costar.com)(Source: costar.com). However, in January 2025 Amazon announced it would shut down all its Quebec warehouses, exiting the market (amid a unionization drive) (Source: costar.com). By mid-2025 Amazon had vacated all those facilities, dumping a huge block of space onto the sublease market (Source: costar.com). Amazon’s brief but sizable footprint (and sudden withdrawal) had a significant impact: it drove Montreal’s industrial vacancy up by roughly 1 percentage point and left large modern warehouses in need of backfill. Some space is already being absorbed by third-party delivery firms (see Intelcom below). Despite Amazon’s exit, its few years of operation underscored the scale of space top e-commerce players require (each fulfillment center was 200k–500k+ sq. ft.).

• Canadian Tire – 1.98 million sq. ft. Iconic retailer Canadian Tire operates one of Canada’s largest distribution centers just west of Montreal. Its Coteau-du-Lac distribution campus (opened 2007) comprises approximately 1.6 million sq. ft., later expanded to 1,980,000 sq. ft. by 2023 (Source: insidelogistics.ca)(Source: s201.q4cdn.com). This massive facility handles general merchandise distribution for Canadian Tire stores across Eastern Canada. The building, on a 167-acre site along Highway 20, was the largest in the country when built (Source: insidelogistics.ca)(Source: insidelogistics.ca). Equipped with advanced automation, the DC can process huge volumes of goods (it has 57 loading docks and 20+ km of conveyors) (Source: insidelogistics.ca)(Source: insidelogistics.ca). Canadian Tire’s nearly 2 million sq. ft. single-site footprint makes it Montreal’s largest industrial occupier by physical size. In addition, Canadian Tire’s subsidiary SportChek has a distribution center in the region, and the company owns the Mark’s/L’Équipeur distribution center in Laval (~400k sq. ft.). Combined, the Canadian Tire group likely exceeds 2.5 million sq. ft. of industrial space in greater Montreal.

• Walmart Canada – 457,000 sq. ft. (new build). Walmart, in addition to its retail stores, is expanding its distribution network in Montreal. In 2022 it announced a major fulfillment center in Vaudreuil-Dorion (west of Montreal). This custom-built facility will be 457,000 sq. ft. and is scheduled to open in 2024 (Source: renx.ca)(Source: renx.ca). The $100M+ center will feature state-of-the-art automation (robotics) and 40-ft clear heights (Source: renx.ca)(Source: renx.ca). It will serve as a regional hub for Walmart’s e-commerce and store replenishment in Quebec. Walmart’s choice of Vaudreuil along the Highway 30 logistics corridor highlights the west-end clustering of distribution (with good highway access to Ontario and the U.S.). Beyond this new site, Walmart previously relied on 3rd-party logistics in Quebec; the Vaudreuil DC is its first large self-operated warehouse in the province. At roughly half a million square feet, it instantly places Walmart among the top industrial tenants. The surrounding “Campus Henry Ford” industrial park being developed by Harden can accommodate 5 more buildings (up to ~1 million sq. ft. total) (Source: renx.ca) – Walmart’s facility will anchor that park and possibly attract related tenants.

• Dollarama – ~800,000–1,000,000 sq. ft. Montreal-based dollar store chain Dollarama has grown into a major industrial occupier to support its 1,500+ stores. In 2016 Dollarama built a 500,000 sq. ft. warehouse in Lachine to expand its distribution capacity (Source: newswire.ca)(Source: newswire.ca). This state-of-the-art DC (near highways 13/520) increased Dollarama’s warehousing space by 40% when it opened in 2017 (Source: newswire.ca). The company also operates older warehouses – e.g. a 336,000 sq. ft. facility (built 2001) (Source: relianceconstruction.com) and others – totaling around 6 warehouses plus the 500k DC. In total Dollarama reportedly has ~2.7 million sq. ft. of warehousing across Canada (Source: dollarama.com); a large portion is in Montreal where its logistics are centralized. We estimate Dollarama’s Montreal footprint at around 0.8–1.0 million sq. ft. of that (the 500k main DC + several hundred thousand in ancillary warehouses). This makes Dollarama one of the region’s top occupiers, and the company owns its new Lachine facility rather than leasing (Source: newswire.ca), indicating a long-term commitment to Montreal as its distribution hub.

• RONA / Lowe’s Canada – 926,000 sq. ft. Home improvement retailer RONA (recently re-acquired by Sycamore Partners from Lowe’s) has its head office and primary distribution centers in Boucherville on Montreal’s South Shore. RONA built a 650,000 sq. ft. ultra-modern distribution centre next to its HQ in 1999, which doubled the company’s storage capacity at the time (Source: rona.ca)(Source: rona.ca). This Boucherville DC was later expanded to 926,000 sq. ft. in the mid-2000s (Source: rona.ca). It handles hardware and building materials distribution for RONA and affiliated stores. RONA also operates additional lumber distribution yards and smaller DCs in Quebec, but the Boucherville campus is by far the largest. At 926k sq. ft., it rivals Canadian Tire’s for size. (In Western Canada, Lowe’s/RONA opened a 1.23M sq. ft. DC in 2021, but for Quebec the Boucherville site remains primary (Source: ronainc.ca).) RONA’s footprint underscores Montreal’s role as a logistics center for the Canadian home improvement sector.

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A typical Montreal industrial facility: 1600 Trans-Canada Highway, Dorval – a 301,520 sq. ft. distribution centre (Source: renx.ca)(Source: renx.ca). The West Island (Dorval/Saint-Laurent) hosts many large warehouses and logistics tenants due to its highway and airport proximity.

• Third-Party Logistics (3PL) Firms – Several logistics providers have recently taken huge blocks of space, especially in the wake of Amazon’s exit. Notably, Intelcom – a local parcel delivery company that services Amazon deliveries – signed a lease for just over 400,000 sq. ft. in Laval (3200 Avenue Francis-Hughes) in Q1 2025 (Source: costar.com). Intelcom’s expansion effectively backfills some capacity left by Amazon. Another major deal: global shipping company Maersk committed to 237,170 sq. ft. of warehouse space at 11281-11299 Boulevard Albert-Hudon in Montreal (east island) (Source: costar.com). These transactions, each in the 200k–400k sq. ft. range, rank among the largest industrial leases of 2024–25. UPS and FedEx also occupy large facilities: for example, UPS runs a major sortation hub in Lachine, and FedEx Ground has a large distribution center in Saint-Laurent (though exact sizes aren’t public, facilities in the 150k–300k sq. ft. range are common for these carriers). Canada Post operates a central mail sorting plant in Montreal as well, which is a significant industrial site (the main Canada Post sorting facility near the airport is roughly 500k sq. ft.). All these logistics players – Intelcom, Maersk, UPS, FedEx, DHL, Purolator, Canada Post – together account for several million square feet, distributed in multiple mid-sized hubs around the region.

• Manufacturing and Institutional Users – Montreal’s industrial base also includes large manufacturing occupiers, often in specialized facilities. In aerospace, Bombardier and Airbus occupy extensive plants: Bombardier’s Dorval site (business jet assembly) and Airbus’s A220 assembly line in Mirabel (north of Montreal) each encompass enormous factory buildings (often 500k+ sq. ft. each, plus support space). Pratt & Whitney Canada has a major aircraft engine plant in Longueuil (Saint-Hubert) of substantial size (likely near 1 million sq. ft. across its campus). CAE Inc., a simulator manufacturer, has a large campus (training center and production) in Saint-Laurent. In food and beverage, Molson-Coors recently opened a new Montreal brewery/plant (~200k+ sq. ft. in Longueuil), and dairy giant Saputo has production facilities in Saint-Léonard. While many of these manufacturing sites are owned by the companies, they represent major occupancies of industrial zoned real estate. Additionally, large institutional warehousing occurs in Montreal – e.g. the Société des alcools du Québec (SAQ), the province’s liquor board, has a central warehouse in Montreal’s east end for alcohol distribution (the SAQ warehouse in Montreal-Est is a sizable facility, likely over 500k sq. ft.). The Quebec government also stores goods like cannabis (SQDC distribution centre) and medical supplies in Montreal warehouses.

Table 3: Selected Major Industrial/Logistics Occupiers in Greater Montreal

Sources: Company announcements and news reports (Source: costar.com)(Source: s201.q4cdn.com) (Source: rona.ca). (Note: Many industrial users own their facilities; sizes are approximate and for primary sites.)

Geographic Distribution of Major Tenants

Downtown Montreal (Ville-Marie) remains the epicenter for office space: major office tenants like banks (National Bank, RBC, etc.), government agencies, law firms, and corporate HQs cluster in the central business district’s towers. For example, National Bank, PSP Investments, and most Big Four accounting firms are all within a few blocks in the downtown core. Some institutional tenants also concentrate downtown (e.g. federal Complexe Guy-Favreau in the Quartier des Spectacles, and provincial offices in Complexe Desjardins). The downtown skyline – dominated by towers such as Place Ville Marie, 1250 René-Lévesque, and 1000 De La Gauchetière – is largely filled with these top-tier tenants. Neighbouring areas like the International District and Old Montreal host significant tenants too (CGI and SNC-Lavalin in the Quartier International, for instance). Midtown areas like the Olympic Park area (Desjardins’ 167k sq. ft. in the Olympic Tower (Source: renx.ca)) and Outremont’s new MIL campus (tech and science offices) have seen some large occupiers move in, but these are secondary compared to downtown.

In contrast, industrial and logistics tenants are spread along the periphery of Montreal and in the suburbs. The West Island and areas around Trudeau International Airport (YUL) are prime logistics hubs – Saint-Laurent, Dorval, and Pointe-Claire house countless warehouses and distribution centers. For instance, Amazon (before leaving) chose Lachine (west end) and Coteau-du-Lac (far west) for large centers (Source: costar.com), and the new Walmart facility is rising in Vaudreuil-Dorion just off island to the west (Source: renx.ca). These western locations offer highway 20/40 access and proximity to Ontario, making them ideal for national distribution. The East End of Montreal (e.g. Anjou, Montréal-Est) is another industrial cluster, historically home to manufacturing and now increasingly logistics. Maersk’s new 237k lease on Albert-Hudon Blvd is in the east end (Source: costar.com), and Canadian Tire’s enormous Coteau-du-Lac DC is along the western edge of the Montreal metro (Source: s201.q4cdn.com) – illustrating how major tenants often bookend the region at logistics nodes. Laval (north of Montreal) and Longueuil/Boucherville (south shore) also attract big occupiers: RONA’s 926k sq. ft. campus is in Boucherville (Source: rona.ca), and Intelcom’s 400k lease is in Laval (Source: costar.com). The aerospace manufacturing giants are clustered around airports – Bombardier and CAE near Trudeau (St-Laurent/Dorval), Airbus and Mirabel (at Mirabel Airport, north). This geographic distribution shows a pattern: office occupiers concentrate in central Montreal, whereas industrial occupiers sprawl in pockets outside the core, wherever transportation infrastructure is favorable (highways, rail, ports, airports).

Retail tenant distribution follows the population: large retail footprints appear in downtown (e.g. the Bay on Ste-Catherine, Eaton Centre) and in major suburban shopping nodes. The largest malls – CF Carrefour Laval (Laval), CF Fairview Pointe-Claire (West Island), CF Galeries d’Anjou (East end), Les Promenades St-Bruno (South Shore) – each host multiple big anchors (Bay, Walmart, Simons, Costco nearby, etc.). Power centres like Marché Central (central Montreal) and Dix30 (Brossard) pack several big-box tenants together. Thus, while no single site rivals downtown’s density, the retail giants are distributed fairly evenly: every quadrant of Montreal has at least one major mall or big-box cluster with a Walmart, Costco, Canadian Tire, etc. Notably, the new Royalmount mega-mall in Town of Mont-Royal (central island at highway 15/40 interchange) will add an upscale retail node in the middle of the city, potentially shifting some retail tenancy closer to the core from the outskirts (Source: altusgroup.com).

In summary, Montreal’s largest tenants reflect the city’s economic mix: financial institutions and governments dominate downtown office towers; retail chains like the Bay, Walmart, and IKEA anchor shopping destinations; and logistics and industrial heavyweights (Canadian Tire, Amazon (formerly), RONA, Walmart, etc.) occupy sprawling facilities on the metropolitan edges. These occupiers shape real estate demand across Montreal’s boroughs – from the skyline-defining towers of Ville-Marie to the warehouse-filled parks of Saint-Laurent and Longueuil. Going forward, their real estate decisions (consolidations like National Bank’s, or exits like Amazon’s) will significantly impact Montreal’s commercial property landscape. Montreal’s market remains dynamic, with flight-to-quality trends in offices(Source: altusgroup.com) and modernization in industrial stock (Source: avisonyoung.ca), but the presence of these big-name tenants – corporate, institutional, and logistical – provides a backbone of demand across all major sectors. Each sector’s largest occupiers, as detailed above, will be closely watched by brokers and investors for clues to Montreal’s economic health and real estate opportunities in the coming years.

Sources: Montreal real estate market reports (CBRE, Altus, Avison Young) and news releases; RENX and CoStar news articles on major leases and projects; company disclosures for facility sizes. All data points cited above are drawn from credible industry sources and press coverage (Source: renx.ca)(Source: renx.ca) (Source: retail-insider.com)(Source: costar.com), ensuring a data-backed profile of Montreal’s biggest commercial tenants.