LaSalle Investment Management has acquired a logistics hub of more than 20,000m² on a forward-funding investment (VEFA contract) on behalf of LaSalle E-REGI. The site is located near Nîmes (30), located along the corridor of vital French logistics hubs, on the crossroads of the A9 and A54 motorways. The design and construction of the site will be carried out by IDEC, and it has already been pre-marketed in its entirety.
The site is made up of 55,000m, and IDEC will build a Class A building of 20,230 m² composed of three blocks (two dedicated to conventional storage and one more adapted to freight), and a further 420m² of office space, a maintenance workshop and a battery station. Its car park will offer space for 37 trucks and 74 cars. The complex will have a rooftop photovoltaic power plant operated by a leading expert in solar photovoltaic in Europe, the URBASOLAR group. The asset is aiming for a BREEAM environmental certification at Very Good level, and its completion is scheduled for November 2021.
"This acquisition is well aligned to the strategy of creating a well-balanced core portfolio, furthermore, it shows our commitment to logistics and our strategy of diversification in sectors with high growth potential” explains Uwe Rempis, Fund Manager of LaSalle E-REGI. “This transaction perfectly illustrates our ability to identify and secure high-quality logistics assets in a very competitive market. The dynamism of the French market, driven by excellent fundamentals and boosted by the rise of e-commerce, make this asset class one of our priorities for future investments.” says Beverley Kilbride, Country Manager of France.
The location of the site is near to Actiparc Mitra, a project involves the establishment of around 100 companies in the logistics, tertiary and service sectors (including 180,000 m2 of logistics spaces); it is spread over 120 hectares on either side of the A54 motorway (Nîmes / Salon-de-Provence) and benefits from a direct service via the Nîmes-Garons interchange. Furthermore, it is situated close to Nîmes Camargue Cévennes airport, and is 50 km from France’s leading port, Marseille. In terms of ease of access and distribution reach, a fundamental criterion of the logistics sector, this excellent location at the intersection of the North-South (A6 and A7) and East-West (A9 and A54) motorways, is a huge benefit for quickly reaching both the South-East of Spain than the southwest of Italy. It gives the future real estate complex a strategic positioning on the Mediterranean belt. These strengths have already convinced a pan-European transport and logistics operator, who plans to set up there upon delivery, under a firm nine-year lease.
LaSalle was advised by C&C Notaires, Reed Smith and KPMG Avocats on legal and tax matters respectively, and by ETYO on technical aspects. The acquisition was carried out through BNP Paris Real Estate.