12:37 PM EST, 03/07/2024 (MT Newswires) -- Morguard Corp. ( MRCBF ) said Thursday that it has sold 181 Queen Street in Ottawa to Public Works and Government Services.

The sale price is $125.3 million, or about $500 per square foot. The company plans to use a portion of the proceeds to repay a first mortgage of $57.7 million.

Morguard ( MRCBF ) has a portfolio of over 3.3 million square feet.

The company's shares were up 2.4% on last look on Thursday.

Price: 116.47, Change: +2.74, Percent Change: +2.41