Commerz Grundbesitz-Spezialfondsgesellschaft (CGS), a subsidiary of Commerz Grundbesitz Group, just signed the deed for a logistics project located in Isle d'Abeau near Lyon. The property, selling for approximately €12 million, is earmarked for one of the company's institutional property funds, CGS-Immo-Spezial.
The building was sold by Caserta S.A. and has a gross lettable area of 14,000 m². The completion of the property is scheduled for January 2008. Even ahead of the start of construction the building was fully let to the Italian wholesale company Caserta and the associated company La Place.
The logistics property is raised in Isle d'Abeau, the largest logistics location in the Alpes region in France.
The location has a total logistics area of about 1 million m² and is located about 35 km from downtown Lyon, directly bordering on the A43 motorway to Grenoble and Italy.