Montreal, August 2002 - Canderel Management Inc. announced the acquisition from Siemens Canada Limited of 7300 Trans-Canada Highway, Borough of Pointe-Claire, Montreal, Quebec.

7300 Trans-Canada Highway is a 100,000 sq. ft. office/industrial building located in the heart of Montreal's West Island, directly across from Fairview Mall.

A long-term lease for the entire property has been signed with Tyco Healthcare Group Canada Inc., a leader in the healthcare supply worldwide. Tyco, who owns the adjacent property, is consolidating their Canadian operations in Pointe-Claire. "7300 is a strategic component of our expansion plans in Canada. Given its location adjacent to our existing installations, the property will give the increased efficiency we need to meet our ever growing clients' needs. We intend to complete our improvements and occupy the project in October, 2002." says company spokesperson, Jean-Pierre Robert.

The Canderel Group of Companies has offices in Montreal, Toronto, and Ottawa, and since 1975, has been active in the management and development of first-class real estate across Canada and the US. It has developed over 11 million sq. ft. of office, industrial, retail and residential space throughout North America and is currently overseeing development projects ranging from the new Daimler Chrysler headquarters in Windsor, Ontario, to the NorthTech Campus in Kanata, Ontario and the Pepsi Forum Entertainment Center in Montreal.