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10. April 2012     Print Print 

AXA Real Estate doubles volume of new logistics lettings in 2011

AXA Real Estate Investment Managers announces that it signed, on behalf of its clients, 19 leases representing a total of 265,000 sq m of space across its logistics portfolio in 2011. This marks a significant increase of over 76% compared to 2010, when 150,000 sq m of space was let across 6 leases.

Of the 19 lettings, 9 representing 145,000 sq m, were new leases, while the remaining 10, accounting for 120,000 sq m of space, comprised lease renewals and extensions. Furthermore, with the delivery of two new warehouses by the end of Q2 2012, located in Madrid and Bristol, AXA Real Estate will grow the logistic assets it manages across Europe to over two million sq m.

During the six past years, AXA Real Estate purchased approximately 1.4 million sq m of warehouse space on behalf of clients in the period up to 2011, of which around 600,000 sq m was developed on a speculative basis. Of the overall logistics portfolio, 1.1 million sq m is located in France, with Italy and Spain the next largest holdings at 250,000 sq m and 223,000 sq m respectively. The remaining portfolio is located across Germany, The Netherlands, Slovakia, the Nordic region and the United Kingdom.

2011 also saw the delivery of several new tenants to the AXA Real Estate French logistics portfolio. The largest new logistics letting of 2011 was to Conforama, the French general retailer in Saint Georges d’Esperanche (Lyon), where 42,000 sq m was let. Other significant lettings in the French logistic portfolio included:

• DISTRIMAG (short lease contract), the international furniture supplier, has taken 47,000 sq m in Fos Distriport Vistalog.

• Geodis, the logistics division of the SNCF group, has taken 38,300 sq m in Fos Distriport Vistalog.

• K&N, the international air filter manufacturer, has taken 41,600 sq m in Combs la Ville in the south of Paris.

• TNT Fashion, a market leading fashion, retail and lifestyle logistics provider, has taken 43,000 in Bergen op Zoom, The Netherlands.