GECINA buys plot for 90,000 m² logistics park development in Paris region (FR)

GECINA has signed a promissory agreement to buy a 26 hectare plot from the development company IMC Promotion with a view to getting a logistics park representing close to 90,000 m² developed by CIBEX.

Th plot is located to the north of the Greater Paris Region, in the Moussy le Neuf district (Seine et Marne, 77), offering excellent links with a number of major highways, including the Francilienne and the A1 freeway. This park will also benefit from the immediate appeal of neighboring logistics centers around Roissy Airport in France.

This project will include the development of four buildings offering top-of-the-range services within a closed logistics park. Delivery will take place in two phases, covering two buildings each, with approximately 50,000 m² to be delivered at the end of 2008 and 40,000 m² at the end of 2009.

This future real estate acquisition is enabling GECINA to position itself far upstream on the development of a very high quality logistics park, covering a range of rental requirements. In this way, the buildings will be characterized by their strong divisibility and the flexibility of their surface areas. This operation will further strengthen GECINA's position on the logistics segment thanks to the development of new products adapted to demand. GECINA's investments since the end of 2005 represent a total of nearly 870,000 m² of logistics space, including some 357,000 m² on development projects.

Source: GECINA

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